9238 N 7th Ave - Apartments FOR SALE


Phoenix, AZ 85021- North Mountain
$1,250,000 USD
602-757-1319
9238 N 7th Ave, Phoenix, AZ for Sale
$1,250,000 USD
Apartments - FOR SALE
1/16
null | 6.69% Cap Rate

9238 N 7th Ave
Phoenix, AZ 85021
North Mountain


HIGHLIGHTS

  • 4 buildings (2 individual houses and 2 residential buildings with 6-studios)
  • Parking: 18 spaces (2.3 per unit)
  • Parcels: Two, totaling .46 acres
  • Gross Building Square Footage: 3,651 SF
  • Units: 8 total, renovated in 2019
  • Sunnyslope, Phoenix – steps from Grand Canal

OVERVIEW

Shangri-La: A Rare Multi-Family Opportunity with Growth Potential Kocour Company is proud to offer this unique investment opportunity in the dynamic Sunnyslope community. Shangri-La is a beautifully preserved 1940’s property, thoughtfully renovated in 2019, consisting of 8 units across 4 buildings: • Two individual homes • Two residential buildings offering 6 studio apartments The property spans .46 acres across two parcels and features 18 parking spaces (2.3 per unit), supporting both current residents and future expansion. What makes this offering stand out is the significant value-add upside: • Add More Units – Capitalize on infill development trends by expanding the property footprint. • Revenue Enhancements – Increase rents, implement RUBS, and add laundry services. • Prime Location – Steps from the Grand Canal and surrounded by popular, expanding restaurants such as O.H.S.O, Little O’s, The Vig, Little Miss BBQ, Timo Wine Bar, and Sushi Friend. Sunnyslope is undergoing a major revitalization fueled by adaptive reuse and new development. Shangri-La sits at the center of this movement, offering investors a rare opportunity to acquire a stabilized, renovated asset with strong upside. We are motivated and ready to transact. With existing income, expansion potential, and rising demand in Sunnyslope, this is the kind of investment that rarely hits the market. • Expansion Potential – Opportunity to build additional units on existing land. • Revenue Growth – Raise rents, implement RUBS, and monetize laundry services. • Market Momentum – Located in Sunnyslope, a community undergoing rapid revitalization with surging demand for modern housing. • Tenant Appeal – Surrounded by popular new restaurants and amenities: O.H.S.O, Little O’s, The Vig, Little Miss BBQ, Timo Wine Bar, Sushi Friend, and more. • Stable & Scalable – Fully renovated in 2019 with existing cash flow and long-term upside.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$376 USD /SF

# OF UNITS

8

PRICE/UNIT

$156,250

CAP RATE

6.69%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Shangri-la

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1949

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,038 SF

ZONING

C-2

APN/PARCEL ID

158-31-002,158-31-005

ASK ABOUT THIS PROPERTY

Brian KocourKocour CompanyMore Info
602-757-1319

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Brian KocourKocour CompanyMore Info
602-757-1319

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.