$629,000
$649,000
3.1%For more information regarding the value of a property, please contact us for a free consultation.
502 N 11TH Street Phoenix, AZ 85006
Key Details
Sold Price $629,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Mt Pleasant Tract Blocks 2-5
MLS Listing ID 6938774
Sold Date 07/15/26
Maintenance Fees $1,335
Year Built 1960
Annual Tax Amount $1,288
Tax Year 2025
Lot Dimensions 99.83 x 70.26 x 99.77 x 70.26
Source Arizona Regional Multiple Listing Service (ARMLS)
Property Description
**GARFIELD DISTRICT** is culturally-rich, w/HISTORICAL significance, mixed w/CONTEMPORARY community-life, PERFECTLY located IN-THE-HEART-OF-DOWNTOWN-PHOENIX's urban-landscape**EXCEPTIONAL-OPPORTUNITY** (2) units are 1 bd/1 bath & (2) units are Studio-flats~ALL units have GAS ranges, & FULL size STACKABLE washer/dryers~Units are submetered for Electric and Gas which Tenants pay~Each unit has Central air-conditioning systems~Duplexes & 4-Plexes in the area are selling upwards of $850K and vacant-lots in the area are listed over $1 million~This HISTORIC property was built-in 1960 & has been renovated throughout the years, it holds STRONG, cash-flow and LONG-TERM appreciation potential~This 4-Plex is A HIDDEN-GEM located in the reimagined, downtown, Phoenix, BOOMING rental-market! Located in the Garfield Historic District, one of the most desirable and rapidly evolving areas near Downtown Phoenix, this well-maintained 4-plex offers strong cash flow and long-term
appreciation potential.
Property Highlights:
4 total units
(2) One-Bedroom / One-Bath units
(2) Studio units
Central air conditioning in all units
Gas ranges
Full-size stackable washer/dryers in each unit
Electric and gas sub-metered (tenants pay utilities)
Renovated and maintained over the years
Investment Highlights:
Strong potential rental-yield (7%)
Located minutes from downtown employment, hospitals, universities, and entertainment
High demand rental market in central Phoenix
Comparable duplexes and four-plexes in the area selling over $800K
Nearby redevelopment and vacant land listings exceeding $1M
Value-Add Potential
Opportunity to increase rents over time in a rapidly appreciating neighborhood
Potential to further enhance units for additional upside
Desirable location for long-term rental demand
Location:
Situated in the vibrant Garfield neighborhood, known for its historic charm, arts community, and
proximity to downtown Phoenix, the property benefits from continued urban revitalization and strong
tenant demand.
Ideal for investors seeking cash flow + appreciation potential in one of Phoenix's most dynamic central neighborhoods.
Location
State AZ
County Maricopa
Community Mt Pleasant Tract Blocks 2-5
Area Maricopa
Zoning Multi-Family
Direction Roosevelt to 11th ST, South to Taylor, Property is located on the corner of Taylor and 11th ST
Interior
Heating Heat Pump, Electric
Cooling Central Air, Ceiling Fan(s), Individual
Flooring Tile
Appliance Refrigerator, Free-Standing Gas Oven, Washer/Dryer
Exterior
Exterior Feature Sidewalk(s)
Parking Features Paved, On Street
Community Features No Pool
Roof Type Composition
Private Pool No
Building
Sewer Public Sewer
Water Master Meter
Structure Type Sidewalk(s)
New Construction No
Schools
Elementary Schools Garfield School
Middle Schools Garfield School
High Schools North High School
School District Phoenix Union High School District
Others
Senior Community No
Tax ID 116-26-102
Acceptable Financing Conventional, 1031 Exchange
Disclosures None
Listing Terms Conventional, 1031 Exchange
Financing VA
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Bought with West USA Realty