5013 N 22nd Avenue, Phoenix, AZ 85015
Local realty services provided by:Better Homes and Gardens Real Estate S.J. Fowler
5013 N 22nd Avenue,Phoenix, AZ 85015
$699,000
- - Beds
- - Baths
- - sq. ft.
- Multi-family
- Active
Listed by: kiran vedantam
Office: kosh realty
MLS#:7037138
Source:ARMLS
Price summary
- Price:$699,000
About this home
Exceptional turn-key 4-unit multifamily investment opportunity in the heart of Phoenix! This fully remodeled 4-plex sits on nearly 1/2 acre and offers strong in-place cash flow with significant upside potential through rental increases, additional income opportunities, and future development potential.
The property consists of:
Two spacious 2 Bed / 1 Bath units
Two remodeled 1 Bed / 1 Bath units
Additional approximately 300 SF storage space
Separate approximately 4,000 SF yard area with potential for RV parking, storage rental income, or future expansion All units have been extensively renovated top-to-bottom with modern finishes throughout with over $150K renovations which were completed in Jan 2025, including:
Brand new kitchens
Fully updated bathrooms
New windows
New appliances
New water heaters installed January 2025
Unit Breakdown:
Unit 1: Approx. 800 SF - 2 Bed / 1 Bath
Units 2 & 3: Approx. 637 SF each - 1 Bed / 1 Bath
Unit 4: Approx. 900 SF - 2 Bed / 1 Bath
The property features individually metered electric service for all units and an impressive 12 parking spaces, providing ample room for tenant vehicles, work trucks, RVs, and guests.
Currently fully occupied and generating approximately $4,500/month in rental income. Current rents are below market, providing immediate upside potential for increased cash flow through future rent adjustments. Additional revenue opportunities include leasing the storage space to existing tenants and creating RV parking rentals within the oversized lot.
The large lot size and favorable layout also provide flexibility for future development opportunities and the potential to add additional units (buyer to verify with city/zoning requirements).
Conveniently located just 1 minute from I-17 with easy access to Downtown Phoenix, Grand Canyon University, shopping, employment centers, and public transportation. Situated in a strong rental market area with continued growth and high tenant demand.
Whether you are looking for a stable cash-flowing asset, value-add opportunity, or long-term development play, this property checks all the boxes.
Buyer to verify all facts, figures, measurements, zoning, and future development potential....
Contact an agent
Home facts
- Year built:1947
- Listing ID #:7037138
- Updated:June 04, 2026 at 10:44 PM
Rooms and interior
- Flooring:Ceramic Tile, Vinyl
Heating and cooling
- Cooling:Electric
Structure and exterior
- Year built:1947
- Construction Materials:Painted, Stucco
Schools
- High school:Alhambra High School
- Elementary school:Alma Elementary School
Finances and disclosures
- Price:$699,000
- Tax amount:$1,577 (2025)
Parking
- Total parking spaces:10
- Parking description:1 Parking Space/Unit
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.New listings near 5013 N 22nd Avenue
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