1224 E DUNLAP Avenue, Phoenix, AZ 85020 (MLS# 6732554)

1224 E DUNLAP Avenue, Phoenix, AZ 85020

$1,500,000

Property Type: Multiple Dwellings Status: Active

Current Price: $1,500,000 Last Modified: 5/05/2026

Overview

Description

Find your prime investment opportunity today! This is an 8-unit low-rise complex. Built in 1980, but was extensively upgraded in 2023, making it a turnkey investment with significant potential for income growth. Offering a mix of two standalone 2-bedroom, 2-bathroom units and six 2-bedroom, 1-bathroom units, with modern amenities and high-quality finishes. Each unit features spacious living areas, updated kitchens and bathrooms, and individual storage units. The complex also boasts ample parking with 24 spaces and a well-maintained exterior. The proximity to major employers, shopping centers, hiking trails, and parks puts it in a highly desirable location, this property is perfect for long term tenants!

Listing Details MLS# 6732554

Location, Tax & Legal

House Number: 1224
Compass: E
Street Name: DUNLAP
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85020
Zip4: 3076
Country: US
County Code: Maricopa
Assessor Number: 159-34-145
Tax Year: 2023
Assessor's Map #: 34
Legal Description (Abbrev): N 135.03' OF S 168.03' OF E 200' OF W 448' OF SW4 SE4 EX E 50' .47 AC
Assessor's Parcel #: 145
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 104702
Taxes: 3005
Legal: N 135.03' OF S 168.03' OF E 200' OF W 448' OF SW4 SE4 EX E 50' .47 AC
Marketing Name: E Dunlap Ave

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: Unknown
Year Built: 1980
Uncvrd Parking Spcs: 24
Total # of Units: 8
# of Buildings: 3
Zoning: R-3
High School District: Glendale Union High School District

Remarks Misc

Directions: From SR-51 Freeway exit on Northern and head west. Turn right on N 12th St then turn right on Dunlap Ave. Property will be on the left.

Legal Info

Township: 3N
Range: 3E
Section: 28

Income Expenses

Gross Annual Sch Inc: 139391.43
Net Operating Income: 102913.73

More Information

Showing Notification Methods

Showing Service: No Showing Service Used
Text: Yes
Email: Yes
Phone Call: Yes

2 Bedroom Units

# 2 Bedroom Units: 8
Avg Rent: 1450
Avg SqFt: 806
# Baths: 10

Project Type

5 - 12 Units: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Composition: Yes

Floors

Vinyl: Yes
Ceramic Tile: Yes
Carpet: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Other Expense: 27500
Operating Exp: 30505
Other Income: 1049.34
Vacancy Allowance: 0.05
Adjusted Gross Inc: 133418.73

Pmt & Rate Info

Cap Rate: 6.05
Equity: 1700000
Down Payment %: 25
Monthly Payments: 10641
Total Owed: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Individual: Yes
Central: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes
Individual: Yes

Exterior Amenities

Landscape Water System: Yes
Fenced: Yes
Sidewalk(s): Yes
Security Light(s): Yes

Tenant Pays

Electricity: Yes

Appliances Included

Dishwasher: Yes
Disposal: Yes
Microwave: Yes
Refrigerator: Yes
Free-Standing Range: Yes
Washer/Dryer: Yes

Road Access Type

Dedicated Street: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes
Projected Proforma: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

>1 Space Per Unit: Yes
Paved: Yes

Electric

APS: Yes
Submetered System: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Cash: Yes
Conventional: Yes

Existing 1st Loan

Conventional: Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 5 - 12 Units Construction: Block Const - Finish: Painted Roofing: Composition Floors: Vinyl; Ceramic Tile; Carpet Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Landscape Water System; Fenced; Sidewalk(s); Security Light(s) Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer Heating: Individual; Central Cooling: Ceiling Fan(s); Individual; Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: APS; Submetered System Gas: SW Gas Parking Features: >1 Space Per Unit; Paved Road Access Type: Dedicated Street Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Owner; Projected Proforma Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None Existing 1st Loan: Conventional New Financing: Cash; Conventional Environmental: None

Listing Office: Axen Realty, LLC

Last Updated: May - 05 - 2026