1623 W MISSOURI Avenue Phoenix, AZ ^$ 4,450,000

1623 W MISSOURI Avenue

^$ 4,450,000

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1623 W MISSOURI Avenue

Phoenix, AZ, 85015

^$ 4,450,000

Studio Baths0.0

Monthly Estimate*

^$ 27,399

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Studio

Multi-Family Home for sale in Phoenix, AZ

for $4,450,000. This home was built in 1964.

The Gem on Missouri is a 29-unit multifamily community positioned in the highly desirable Midtown Phoenix submarket. Located at 1623 & 1625 W Missouri Ave, the property was originally constructed in 1963 and spans approximately ±22,400 square feet, with an average unit size of ±772 SF, offering efficient and functional floor plans that appeal to a broad renter base. The property is currently achieving average rents of approximately $1,074, below market comparables averaging $1,317, representing upside of approximately $243 per unit. The asset has already undergone comprehensive interior renovations, including upgraded finishes and in-unit washer and dryer across all units, positioning this as primarily operational value-add opportunity

Multi-Family Active

Price

^$ 4,450,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

^$ 4,064

Style

Multiple Dwellings

Year Built

1964

Town/City

Phoenix

County/Region

Maricopa

MLS | Web ID

7033404

Features

General

Sewer Public Sewer

Heating Other

Cooling Ceiling Fan(s) Individual

Roof Composition

Zoning R4

Construction Materials Painted Block

Year Built 1964

Electric Individual Meter

Township 2N

Tax Year 2025

Ownership Fee Simple Fee Simple

Gross Income 420854.75

Community Features Barbecue Exercise Room Pool

County Maricopa

Net Operating Income 282239.0

Operating Expense 4064.0

New Construction N

Property Type Multiple Dwellings

Attached Garage N

Subdivision Name DENTON TRACT

Garage Y/N N

Status Active

City Phoenix

Disclosures None

High School District Phoenix Union High School District

Open Parking Spaces 10.0

Number Of Units Total 29

Carport Y/N N

Elementary School Solano School

Tax Annual Amount 4064.0

Lease Renewal Y/N N

Additional Parcels Y/N N

Lease Considered Y/N N

Rent Control Y/N N

Standard Status Active

Occupancy Type Tenant

Elementary School District Osborn Elementary District

Tax Lot 7

Cap Rate 6.34

New Financing: Conventional True

Senior Community N

Exterior

Exterior Amenities Sidewalk(s)

Parking Features Paved Free 1 Space/Unit Carport

Water Source Master Meter

Total Parking 39.0

Number of Buildings 8

Spa N

Lot Dimensions 266x264x128x120x120x144

Road Surface Type Concrete

Covered Spaces 29.0

Other Equipment Satellite Dish

Crops Included Y/N N

Irrigation Water Rights Y/N N

Interior

Flooring Vinyl

Air Conditioning Y/N Y

Heating Y/N Y

Total Baths 0

Internal Only

Street Number 1 1623

* Excluded Features

List By

Matthews Real Estate Investment Services

Broker

brad.skenderian@matthews.com

Affordability Calculator

$27,738

Per Month

Monthly Principal & Interest: $27,399
Monthly Property Taxes: $339
Monthly Home Insurance: --

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Loan Term

Interest Rate

Yearly Property Taxes

Yearly Home Insurance

Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Phoenix, AZ

Average List Price ^$1,228,139

Percent of Sale Price 72%

About Phoenix, AZ

1,596,463 Population

20% Since 2002

^$51,132 Median Income

34.66 Median Age

32% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

4327686 Elementary School

4327058 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
5/27/2026	$4,450,000		Listed Price

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1623 W MISSOURI Avenue, Phoenix, AZ, 85015 is a Multi-Family Home for sale at $4,450,000. 1623 W MISSOURI Avenue is a studio with 0.0 baths and was built in 1964. The property's zip code is 85015 which is in Phoenix, AZ

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Arizona Regional Multiple Listing Service, Inc. Real Estate listings held by brokerage firms (licensees) other than Weichert Realtors are marked with the ARMLS logo and detailed information about them includes the name of the listing brokers.

All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.

The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data is updated as of 5/28/2026.

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1623 W MISSOURI Avenue

Multi-Family Home for sale in Phoenix, AZ

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