Fully renovated triplex investment opportunity in Phoenix's 85017 Canyon Corridor. The property underwent a comprehensive refresh just over a year ago and has been meticulously maintained since. Major capital improvements include a new roof (July 2024), all new sewer lines from under-slab to city connection, and updated electrical wiring—rare peace… Read More of mind for multifamily in this vintage. Each unit offers upgraded finishes with new flooring, cabinets, windows (with 2'' faux wood blinds), stainless steel appliances, in-unit stack washer/dryer, and private fenced backyards. Two of the three AC units and all water heaters installed in 2024. The property features block wall construction with metal security gates, a shared courtyard with picnic area, and strong tenant appeal. Currently 100% occupied. Grand Canyon University (GCU) is the neighborhood's dominant demand driver. Enrollment has surged from ~118,000 in 2023 to over 125,000 in 2024, and is projected to exceed 133,000 by 2025-26. The Phoenix campus now houses ~25,000 students, with ~17,000 living in 33 residence halls. GCU's growth generates year-round rental demand, service jobs, and billions in annual economic output for the area. Ongoing Canyon Corridor revitalization through public-private partnerships improving safety, streetscape, and long-term property values. Just off I-17 with direct access to Camelback Rd and 27th Ave. Served by Valley Metro bus routes and a short ride to light rail. Read Less
Courtesy of My Home Group Real Estate 480-685-2760
Listing Snapshot
Days Online
223
Last Updated
Property Type
Multiple Dwellings
Year Built
1961
MLS Number
6921067
30 Days Snapshot Of 85017
$328k
+22%
(avg) sold price
15
+36%
homes sold
88
-1%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
"Refrigerator", "Free-Standing Electric Oven", "Washer/Dryer"
Building
Built in 1961, Construction materials: "Painted", "Block", 3 total units
Cooling
"Central Air"
Expenses
Insurance: $3,000, Maintenance: $1,800, Water sewer: $1,500
Floors
"Ceramic Tile"
Heating
"Electric"
Parking
"1 Space/Unit", 3 total parkings
Property
Zoning: R3
Sewer
"Public Sewer"
Taxes
Annual amount: $1,321, Lot: 16
Utilities
"APS"
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