Active

525 N 32ND Street

Phoenix AZ, 85008

$1,685,000


Active

Other

Built in 1947

Welcome to Thirteen on 32nd Street Apartments, a centrally located multifamily investment in Phoenix, just across from Celebrity Theatre and near the Phoenix Airport with convenient freeway access.

This offering includes two parcels at 525 & 526 N 32nd Street (APN: 121-17-026-A and 121-17-028-A), presenting an excellent value-add opportunity with below-market rents and redevelopment potential.
Property Details:
Studios: Currently rented at $750-$850 (Market: $950).
One-Bedroom Units: Currently at $850 to $950).
Three-Bedroom, One-Bath House (on second lot with an attached one-bedroom apartment): Rented at $1,300 with a $600 discount for the on-site manager (Market: $1,500).
Investment Highlights: Welcome to Twelve on 32nd Street Apartments, a centrally located multifamily investment in Phoenix, just across from Celebrity Theatre and near the Phoenix Airport with convenient freeway access.

This offering includes two parcels at 525 & 526 N 32nd Street (APN: 121-17-026-A and 121-17-028-A), presenting an excellent value-add opportunity with below-market rents and redevelopment potential.

Property Details:
Studios: Currently rented at $750-$850 (Market: $950).
One-Bedroom Units: Currently at $850 (Market: $950).
Three-Bedroom, One-Bath House (on second lot with an attached one-bedroom apartment): Rented at $1,300 with a $600 discount for the on-site manager (Market: $1,500).
Investment Highlights:
 Below-Market Rents - Strong upside potential to increase rental income.
 Redevelopment Potential - Opportunity to add more units or reposition the property.
 Prime Location - Close to major transit, entertainment, and employment hubs.
All facts and figures are approximate. Buyer to verify all MLS information.

6817995

MLS ID

February 9, 2025

Listed

February 20, 2025

Updated

Interior Features

Floor Description

Carpet, Ceramic Tile, Vinyl


Fireplace

No


Cooling

Yes


Cooling Description

Individual


Heating

Yes


Heating Description

Individual

Exterior/Building Features

Roof

Composition, Tile, Built-Up


Sewer

Public Sewer

School Information

School District

Balsz Elementary District


High School

Alhambra High School


Elementary School

Brunson-Lee Elementary School

Other Property Details

Taxes

$2,789


Tax Frequency

Annually


Days on Market

1


Garage

No


Parking

Paved Parking, Free


Parking Total

14


View

No


County

Maricopa


Water Source

City Franchise


Zoning

Multi

Courtesy of Grace CRE, Sophia J Willets

Listing Contact: 480-375-0227 

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Jen Sheedy shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

©2025 Arizona Regional Multiple Listing Service. All rights reserved.

Data Last Updated: 9:36 PM UTC, 2/20/2025.

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