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For sale by owner
  • $745,000

    2559 E Corona Ave, Phoenix, AZ 85040

    6beds
    2,250sqft
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    MultiFamily
    Built in 1963
    -- sqft lot
    $-- Zestimate®
    $331/sqft
    $-- HOA

    What's special

    Four freestanding residential buildingsGas rangeRange hoodPerimeter fencingGas water heaterWasher connections
    Rare Phoenix Multi-Family Investment Portfolio Package Price: $2,980,000 Four adjacent multi-family buildings located at 2549, 2551, 2557 & 2559 E Corona Ave, Phoenix, AZ 85040. THIS IS A PORTFOLIO SALE. All four properties are being offered together as one investment package and will not be sold separately. The equivalent purchase price is approximately $745,000 per building. Located in the rapidly expanding Phoenix Airport Economic Corridor, this exceptional investment portfolio consists of four freestanding residential buildings totaling twelve rental units situated on approximately 30,024 square feet of land with approximately 9,180 square feet of building area. All twelve units feature efficient two-bedroom, one-bathroom floor plans that continue to experience strong rental demand in one of Phoenix's fastest-growing employment corridors. The property is ideally positioned near Phoenix Sky Harbor International Airport, Interstate 10, Downtown Phoenix, Arizona State University, major distribution centers, manufacturing facilities, and numerous logistics employers. Continued population growth, expanding employment opportunities, and ongoing infrastructure investment continue to support strong occupancy, increasing rental demand, and long-term property appreciation throughout the area. Each unit includes a refrigerator, gas range, range hood, gas water heater, and washer connections. Separate electric and gas meters allow tenants to pay their own utilities, helping reduce operating expenses while improving overall management efficiency. The property also provides perimeter fencing and dedicated parking with two parking spaces assigned to each unit. This investment offers the unique combination of stable rental income and significant long-term land value. Investors benefit from immediate cash flow while also owning a sizeable land parcel with future redevelopment potential in one of the most active growth markets in Arizona. As available development sites continue to become increasingly limited, well-located multifamily properties with substantial land holdings are expected to remain highly desirable. Whether you are seeking long-term cash flow, portfolio expansion, a 1031 Exchange investment, or future redevelopment opportunities, this rare portfolio provides multiple avenues for value creation and long-term appreciation. Investment Highlights: Four Freestanding Buildings, Twelve Residential Rental Units, Portfolio Sale Only, Total Purchase Price of $2,980,000, Approximately $745,000 Per Building, Prime Phoenix Airport Location, Strong Rental Demand, Stable Income-Producing Asset, Future Redevelopment Potential, Excellent Opportunity for 1031 Exchange Investors. Showings are by appointment only. Please do not disturb tenants or enter the property without prior authorization.
    What the owner loves about this home
    Rare Phoenix Multi-Family Investment Portfolio. Portfolio Sale Only. Four adjacent buildings at 2549, 2551, 2557 & 2559 E Corona Ave are offered together for $2,980,000 (approximately $745,000 per building). Located in the rapidly growing Phoenix Airport Economic Corridor, this investment includes four freestanding buildings with a total of 12 residential rental units on approximately 30,024 SF of land and approximately 9,180 SF of improvements. All units are efficient 2-bedroom, 1-bath floor plans with strong rental demand. Excellent location near Phoenix Sky Harbor International Airport, I-10, Downtown Phoenix, Arizona State University, major distribution centers, manufacturing facilities, and logistics employers. Continued population and employment growth support strong long-term rental demand. Each unit includes a refrigerator, gas range, range hood, gas water heater, and washer hookups. Separate gas and electric meters allow tenants to pay their own utilities, reducing operating expenses. The property also offers perimeter fencing and two parking spaces for each unit. This portfolio combines immediate rental income with long-term appreciation potential. The large land parcel also offers future redevelopment opportunities, making it ideal for investors seeking stable cash flow, portfolio expansion, or a 1031 Exchange investment. Showings are by appointment only. Please do not disturb tenants or enter the property without prior authorization.
    16 days
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    181
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    12
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    Listed by:

    Property Owner (626) 639-6788

    This property is for sale by owner and Zillow, Inc. is displaying it at the owner's request. It is not subject to a listing agreement with Zillow, Inc. or its affiliates.

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 6
      • Bathrooms: 3
      • Full bathrooms: 3
      Heating
      • Heat pump
      Appliances
      • Included: Range / Oven, Refrigerator
      Features
      • Flooring: Tile
      • Basement: Unfinished
      Interior area
      • Total interior livable area: 2,250 sqft

      Property

      Features
      • Exterior features: Stucco
      Lot
      • Size: 7,343 Square Feet
      Details
      • Parcel number: 12257040A

      Construction

      Type & style
      • Home type: MultiFamily
      Materials
      • concrete
      • Roof: Built-up
      Condition
      • New construction: No
      • Year built: 1963

      Community & HOA

      Location
      • Region: Phoenix

      Financial & listing details

      • Price per square foot: $331/sqft
      • Tax assessed value: $326,200
      • Annual tax amount: $541
      • Date on market: 7/2/2026

        Estimated market value

        Not available

        Estimated sales range

        Not available

        $1,767/mo

        Price history

        DateEventPrice
        7/2/2026Listed for sale$745,000$331/sqft
        Source: Owner Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$541 +2.7%$32,620 -3.1%
        2024$527 +2.9%$33,656 +933%
        2023$513 +2%$3,258 -80.8%
        2022$502 -0.8%$16,970 +18.3%
        2021$506 +3.3%$14,340 +46.3%
        2020$490 +2.7%$9,802
        2019$477 $9,802 +6.4%
        2018$477 +4.9%$9,210 +68.7%
        2017$454 +11.7%$5,460 +11.7%
        2016$407 -3.5%$4,890 +17.3%
        2015$421 $4,170 +43.3%
        2014-- $2,910 +59%
        2013-- $1,830 -9.9%
        2012-- $2,030 -27.5%
        2011-- $2,800 -57.8%
        2010-- $6,640 -40.7%
        2009-- $11,190 +2.7%
        2008-- $10,900 +109.6%
        2004-- $5,200
        2003-- $5,200 +16.9%
        2002-- $4,450
        Find assessor info on the county website

        Monthly payment

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        Payment breakdown

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        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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        Climate risks

        Neighborhood: South Mountain

        Getting around

        44 / 100
        Car-Dependent
        42 / 100
        Some Transit
        55 / 100
        Bikeable

        Nearby schools

        GreatSchools rating

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