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.
For sale
$1,040,000
2916 E MONROE Street, Phoenix, AZ 85034
10beds
10baths
4,309sqft
Multi Family
Built in 1944
-- sqft lot
$-- Zestimate®
$241/sqft
$-- HOA
What's special
- 137 days |
- 105 |
- 3 |
Zillow last checked:
Listing updated:
Listed by:
Bradley Skenderian 949-533-5594,
Matthews Real Estate Investment Services
Source: ARMLS,MLS#: 6990042
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 10
- Bathrooms: 10
Heating
- See Remarks, Individual, Heat Pump, Electric
Cooling
- Central Air, See Remarks, Individual
Appliances
- Included: Built-In Range, Free-Standing Range, Other, Refrigerator, Microwave
Features
- Flooring: Other, Ceramic Tile
Interior area
- Total structure area: 4,309
- Total interior livable area: 4,309 sqft
Property
Parking
- Total spaces: 15
- Parking features: Other, >1 Space Per Unit, On Street
- Uncovered spaces: 15
Lot
- Size: 0.34 Acres
- Dimensions: 100 ft x 150 ft
Details
- Parcel number: 12165018
- Zoning: R-5
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Other, Wood Frame, Painted, Stucco
- Roof: Other,Composition
Condition
- Year built: 1944
Utilities & green energy
- Electric: APS, Individual Meter
- Sewer: Public Sewer
- Water: City Franchise
Community & HOA
Community
- Features: No Pool
- Subdivision: EL MOLINO PLACE
Location
- Region: Phoenix
Financial & listing details
- Price per square foot: $241/sqft
- Tax assessed value: $565,800
- Annual tax amount: $1,557
- Date on market: 2/26/2026
- Cumulative days on market: 137 days
- Listing terms: Conventional
- Ownership: Fee Simple
- Electric utility on property: Yes
- Road surface type: Concrete, Asphalt
Foreclosure details
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 2/26/2026 | Listed for sale | $1,040,000+4%$241/sqft |
Source:  ARMLS #6990042 Report a problem | ||
| 10/29/2025 | Listing removed | $999,999$232/sqft |
Source: ARMLS #6744412 Report a problem | ||
| 7/8/2025 | Price change | $999,999-9.1%$232/sqft |
Source: ARMLS #6744412 Report a problem | ||
| 3/31/2025 | Price change | $1,100,000-4.3%$255/sqft |
Source: ARMLS #6744412 Report a problem | ||
| 1/13/2025 | Price change | $1,150,000-8%$267/sqft |
Source: ARMLS #6744412 Report a problem | ||
| 9/24/2024 | Price change | $1,250,000-3.8%$290/sqft |
Source: ARMLS #6744412 Report a problem | ||
| 8/15/2024 | Listed for sale | $1,300,000+4%$302/sqft |
Source: ARMLS #6744412 Report a problem | ||
| 12/13/2023 | Listing removed | -- |
Source: ARMLS #6401123 Report a problem | ||
| 6/28/2022 | Listing removed | $1,250,000$290/sqft |
Source: ARMLS #6401123 Report a problem | ||
| 5/17/2022 | Listed for sale | $1,250,000+1386.5%$290/sqft |
Source: ARMLS #6401123 Report a problem | ||
| 7/23/2015 | Sold | $84,091-65%$20/sqft |
Source: Public Record Report a problem | ||
| 6/21/2013 | Sold | $240,000+142.4%$56/sqft |
Source: Public Record Report a problem | ||
| 7/29/2011 | Sold | $99,000-1%$23/sqft |
Source: ARMLS #4592922 Report a problem | ||
| 4/10/2011 | Sold | $100,000$23/sqft |
Source: ARMLS #4552112 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,557 +6.9% | $84,870 +0.9% |
| 2024 | $1,456 -0.5% | $84,105 +730.8% |
| 2023 | $1,462 +6.1% | $10,123 -76.5% |
| 2022 | $1,378 -1% | $43,155 +28% |
| 2021 | $1,392 +0.4% | $33,720 +19.5% |
| 2020 | $1,386 +1.2% | $28,215 +19% |
| 2019 | $1,369 | $23,715 +23.7% |
| 2018 | $1,369 +7.6% | $19,170 +2.8% |
| 2017 | $1,273 -1.4% | $18,645 +34.2% |
| 2016 | $1,291 -3.3% | $13,890 +13.2% |
| 2015 | $1,335 | $12,272 +107.3% |
| 2013 | -- | $5,920 -15.3% |
| 2012 | -- | $6,992 -70.4% |
| 2009 | -- | $23,636 +25.2% |
| 2007 | -- | $18,880 +57.7% |
| 2004 | -- | $11,972 +2.7% |
| 2003 | -- | $11,655 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.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.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: Central City
Nearby schools
GreatSchools rating
- 2/10Wilson Primary SchoolGrades: PK-3Distance: 0.2 mi
- 3/10Wilson Elementary SchoolGrades: 4-8Distance: 0.3 mi
- 3/10Camelback High SchoolGrades: 9-12Distance: 3.8 mi
Schools provided by the listing agent
- Middle: Wilson Elementary School
- District: Wilson Elementary District
Source: ARMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
- $---- bd1 ba442 sqft2916 E Monroe St #7, Phoenix, AZ 85034Off Market
- $--2 bd2 ba556 sqft2916 E Monroe St #2, Phoenix, AZ 85034Off Market
- $330,0003 bd2 ba1k sqft2912 E Monroe St, Phoenix, AZ 85034Sold
- $326,600-- bd1 ba1.1k sqft2920 E Monroe St, Phoenix, AZ 85034Off Market
- $465,9001 bd1 ba-- sqft2920 E Monroe St #9, Phoenix, AZ 85034Off Market
- $590,0007 bd2 ba2.8k sqft2924 E Monroe St, Phoenix, AZ 85034Sold
- $285,700-- bd1 ba842 sqft2906 E Monroe St, Phoenix, AZ 85034Off Market
- $375,9003 bd-- ba1.2k sqft2902 E Monroe St, Phoenix, AZ 85034Off Market
A local agent can set up tours, give advice and negotiate with sellers.
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- Arizona
- Maricopa County
- Phoenix
- 85034
- Central City
- 2916 E MONROE Street
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Nearby zip codes
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