2916 E MONROE Street Phoenix, AZ ^$ 1,040,000

2916 E MONROE Street

^$ 1,040,000

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Recently Listed

2916 E MONROE Street

Phoenix, AZ, 85034

^$ 1,040,000

Studio Baths0.0

Monthly Estimate*

^$ 6,403

2916 E MONROE Street, Phoenix, AZ 85034 - Image 1

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2916 E MONROE Street, Phoenix, AZ 85034 - Image 3

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2916 E MONROE Street, Phoenix, AZ 85034 - Image 5

2916 E MONROE Street, Phoenix, AZ 85034 - Image 6

2916 E MONROE Street, Phoenix, AZ 85034 - Image 7

2916 E MONROE Street, Phoenix, AZ 85034 - Image 8

2916 E MONROE Street, Phoenix, AZ 85034 - Image 9

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Studio

Multi-Family Home for sale in Phoenix, AZ

for $1,040,000. This home was built in 1944.

9 unit multifamily investment opportunity in Phoenix, AZ. Built in 1946, the property spans two contiguous parcels (2916 and 2920 E. Monroe Street) and features a diverse mix mix: (3) studios, (3) one-bedrooms, (2) two-bedrooms, and (1) large three-bedroom unit over 1,000 SF. The asset offers a cap rate of 7.79% on current financials resulting in stable cash flow with upside potential. Current ownership has already completed a full sewer line replacement, mitigating a major capital expense. Strategically located, the property provides convenient access to Downtown Phoenix, Phoenix Sky Harbor International Airport, and major transportation corridors (Loop 202 and I-10), ensuring strong long-term tenant demand and investment stability.

Multi-Family Active

Price

^$ 1,040,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

^$ 1,557

Style

Multiple Dwellings

Year Built

1944

Town/City

Phoenix

County/Region

Maricopa

MLS | Web ID

6990042

Features

General

Sewer Public Sewer

Heating See Remarks Individual Heat Pump Electric

Cooling Central Air See Remarks Individual

Roof Other Composition Rolled/Hot Mop

Zoning R-5

Construction Materials Other Wood Frame Painted Stucco

Year Built 1944

Electric APS Individual Meter

Township 1N

Tax Year 2025

Ownership Fee Simple Fee Simple

Community Features No Pool

County Maricopa

Net Operating Income 80990.0

Operating Expense 31557.0

Insurance Expense 1599.0

New Construction N

Property Type Multiple Dwellings

Attached Garage N

MaintenanceExpense 6313.0

Subdivision Name EL MOLINO PLACE

Garage Y/N N

Status Active

City Phoenix

Disclosures Other (See Remarks) None

High School District Phoenix Union High School District

Open Parking Spaces 15.0

Number Of Units Total 9

Carport Y/N N

Tax Annual Amount 1557.0

Middle/Junior High School Wilson Elementary School

Water Sewer Expense 22088.0

Lease Renewal Y/N N

Additional Parcels Y/N Y

Lease Considered Y/N N

Rent Control Y/N N

Standard Status Active

Elementary School District Wilson Elementary District

Tax Lot 16

Cap Rate 7.79

New Financing: Conventional True

Senior Community N

New Financing: Cash True

Interior

Flooring Other Ceramic Tile

Air Conditioning Y/N Y

Heating Y/N Y

Total Baths 0

Exterior

Parking Features Other >1 Space Per Unit On Street

Water Source City Franchise

Total Parking 15.0

Number of Buildings 6

Spa N

Lot Dimensions 100 ft x 150 ft

Road Surface Type Concrete Asphalt

Covered Spaces 0.0

Crops Included Y/N N

Irrigation Water Rights Y/N N

Internal Only

Street Number 1 2916

* Excluded Features

List By

Matthews Real Estate Investment Services

Broker

brad.skenderian@matthews.com

Affordability Calculator

$6,533

Per Month

Monthly Principal & Interest: $6,403
Monthly Property Taxes: $130
Monthly Home Insurance: --

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Interest Rate

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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 ^$1,253,965

Percent of Sale Price 21%

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.

4327165 Elementary School

4897117 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
2/26/2026	$1,040,000		Listed Price

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2916 E MONROE Street, Phoenix, AZ, 85034 is a Multi-Family Home for sale at $1,040,000. 2916 E MONROE Street is a studio with 0.0 baths and was built in 1944. The property's zip code is 85034 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 3/1/2026.

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2916 E MONROE Street

Multi-Family Home for sale in Phoenix, AZ

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