909 S 35TH Avenue, Phoenix, AZ, 85009
About This Home
Discover a prime investment opportunity in strong central Phoenix with this fully occupied 8-unit multifamily complex generating consistent cash flow from day one. This exceptional property comprises three spacious 1-bedroom, 1-bathroom units and five efficient studio units, perfectly positioned to capitalize on the area's high demand for affordable rentals where vacancies remain rare. Each unit features its own electrical sub-panel for independent metering and billing. While all three 1-bedroom units boast in-unit washer/dryers for premium tenant appeal, and studios share a convenient on-site laundry facility. The property is fully fenced with one dedicated parking spot per unit, creating a secure and organized community. Major systems including plumbing, electrical, and HVAC were professionally upgraded in 2021, ensuring reliability and minimal maintenance concerns for years to come. The property is well-maintained with regular upkeep including fresh paint and timely repairs. With its R-5 zoning allowing for maximum density in multifamily development, this property presents significant future redevelopment possibilities for investors seeking long-term upside potential. Located strategically near Downtown Phoenix, the Central Avenue light rail extension, and with easy access to I-10 and I-17, residents enjoy quick commutes to key employment corridors and major transit routes. Beyond the stable current income, this is a true value-add opportunity--the large lot provides room for expansion, and there's strong potential to increase returns by replacing flooring and installing washer/dryers in the remaining studio units, or utilizing the huge courtyard for income-producing amenities like vending machines. This combines built-in stability with substantial upside for an investor ready to maximize returns. DRIVE-BY ONLY; please do not disturb tenants. Walkthroughs available only with accepted offers. Buyer to verify all information.
Getting Around
Car-Dependent
Some Transit
BikeableSchools
Construction
Condition
- Year built: 1946
Materials
- Roof: Composition
- Construction materials: Stucco,Block
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Appliances included: Built-In Range,Disposal,Refrigerator,Microwave,Washer/Dryer
Bedrooms & Bathrooms
- Bedrooms: 3
- Bathrooms: 8
Features
- Flooring: Ceramic Tile,Vinyl
Heating & Cooling
- Heating features: Electric
- Cooling features: Electric
Interior Area
- Total structure area: 2,800
- Total interior livable area: 2,800 sqft
Property
Details
- Parcel number: 10958047
- Zoning: R-5
Features
- Exterior features: Sidewalk(s)
Lot
- Lot size: 9,102 sqft
- Lot size dimensions: 74' x 123'
Parking
- Total spaces: 8
- Parking features: Paved,1 Space/Unit
- Has uncovered spaces: Yes
- Uncovered spaces: 8
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Heat Wave
How This Home’s Risks Compare
FEMA Declared Disasters in Maricopa County and Arizona
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $5,612 | $67,344 |
| Home Insurance | $488 | $5,856 |
| Property Taxes | $406 | $4,872 |
| Electricity | $296 | $3,558 |
| Total | $6,802 | $81,624 |
Income You'd Need if You Spent...
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-05-08 | Listed for sale | $1,110,000 |
| 2024-07-01 | Listing removed | $1,390,000 |
| 2024-05-09 | Listed for sale | $1,390,000 |
| 2023-03-14 | Listing removed | -- |
| 2023-02-14 | Listed for rent | $899 |
| 2020-08-21 | Sold | $365,000 |
| 2020-08-02 | Listed for sale | $415,000 |
| 2020-07-14 | Pending sale | $415,000 |
| 2020-04-08 | Price change | $415,000 |
| 2020-03-27 | Listed for sale | $465,000 |
| 2020-03-19 | Pending sale | $465,000 |
| 2020-03-10 | Price change | $465,000 |
| 2020-02-06 | Listed for sale | $480,000 |
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