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2559 E Corona Ave, Phoenix, AZ, 85040

6beds
3baths
2,250sqft
$745,000
$331price/sqft
$5,124/moest. monthly cost
$204,960/yrincome needed

About This Home

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.

Getting Around

44
WalkingCar-Dependent
42
TransitSome Transit
55
BikeBikeable

Schools

5/10
Percy L Julian SchoolGrades K-80.7 mi
2/10

Construction

Condition

  • Year built: 1963

Materials

  • Roof: Built-up
  • Construction materials: concrete

Type & Style

  • Home type: MultiFamily

Interior

Appliances

  • Appliances included: Range / Oven,Refrigerator

Basement

  • Basement: Unfinished

Bedrooms & Bathrooms

  • Bedrooms: 6
  • Bathrooms: 3
  • Full bathrooms: 3

Features

  • Flooring: Tile

Heating

  • Heating features: Heat pump

Interior Area

  • Total interior livable area: 2,250 sqft

Property

Details

  • Parcel number: 12257040A

Features

  • Exterior features: Stucco

Lot

  • Lot size: 7,343 sqft

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
    Heat WaveVery High
  • Inland Flooding
    Inland FloodingVery High
  • Hail
    HailModerate

How This Home’s Risks Compare

Heat Wave
Inland Flooding
Hail

FEMA Declared Disasters in Maricopa County and Arizona

Fire
Flood
Snowstorm
Winter Storm

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

MonthlyAnnual
Mortgage $3,767$45,204
Home Insurance $259$3,108
Property Taxes $860$10,320
Electricity $238$2,859
Total$5,124$61,488

Income You'd Need if You Spent...

35% on housing$175,680/yr
40% on housing$153,720/yr
45% on housing$136,640/yr

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.

Insurance Growth Rate5-year average: 11.2%
11.2%
0%30.0%
Electricity Growth Rate10-year average: 1.2%
1.2%
0%15.0%
Property Taxes Growth Rate2-year average: -2.1%
-2.1%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$331This listing

vs Other Active Listings

Avg $/sqft

ZIP 85040$178
Maricopa County$272

vs Homes Sold Last Month

Median $/sqft

ZIP 85040$236
Maricopa County$262

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)

No zestimate history available

Price History

DateEventPrice
2026-07-02Listed for sale$745,000

For Sale by Owner

AgentProperty Owner

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