1406 E ROOSEVELT Street, Phoenix, AZ 85006

$1,000,000

Property Type: Multiple Dwellings Bedrooms: 5 Baths: 4 Status: Closed

Current Price: $1,000,000 Last Modified: 10/15/2026

Overview

Description

The Roosevelt Apartments is a 7-unit multifamily community located at 1402 & 1406 E Roosevelt St. Originally constructed in 1949 and 1964, the asset sits in a high rental demand area to the east of Downtown Phoenix and near the end of Roosevelt Row. 1402 &1406 E Roosevelt features a favorable mix of one- and two-bedroom units that have been well-maintained and updated throughout the 20 years of current ownership. Additionally, the property sits across two separate parcels, allowing for flexible financing or the opportunity to sell them as an individual triplex and fourplex in the future. This is a unique opportunity to acquire a value-add asset in a centralized, high growth location with both immediate income potential and long-term upside.

Listing Details MLS# 6918779

Location, Tax & Legal

House Number: 1406
Compass: E
Street Name: ROOSEVELT
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85006
Zip4: 3586
Country: US
County Code: Maricopa
Subdivision: LA TOURRETTE PLACE
Assessor Number: 116-56-074-D
Tax Year: 2024

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: IRR
Year Built: 1964
Uncvrd Parking Spcs: 4
Total # of Units: 4
# of Buildings: Yes
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District

Remarks Misc

Cross Street: 14th street and roosevelt

Status Change Info

Off Market Date: 2025-09-12
Under Contract Date: 2025-09-01
Close of Escrow Date: 2025-09-12

Legal Info

Township: 1N
Range: 3E
Section: 4
Lot Number: 22

More Information

1 Bedroom Units

# 1 Bedroom Units: 3
Avg Rent: 575
Avg SqFt: 570
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: Yes
Avg Rent: 675
Avg SqFt: 720
# Baths: Yes

Structure

Bedrooms Total: 5
Bathrooms Total: 4

Income Expenses

Gross Annual Sch Inc: 28800
Net Operating Income: 17736

Showing Notification Methods

Showing Service: Aligned Showings

Sold Info

Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession to Buyer: 10000
Seller Concession $/%: $

Property Features

Project Type: Four Plex Construction: Brick Const - Finish: Other (See Remarks) Roofing: Composition Floors: Vinyl; Carpet Sale Includes: Land & Building Community Features: No Pool Appliances Included: Free-Standing Range Cooling: Heat Pump Water Source: City Franchise Sewer: Sewer - Public Electric: Individual Meter Gas: Individual Meter Parking Features: 1 Space/Unit Road Surface Type: Asphalt Owner Pays: Water; Electric; Gas; Trash Collection Tenant Pays: Cable TV Source of Fincl Data: Projected Proforma Lockbox Type: None Existing 1st Loan: Other (See Rmks) Existing 1st Loan Type: Fixed Existing 1st Loan Terms: Non Assumable Existing 2nd Loan: Other (See Remarks) Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Other (See Remarks) Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: VA; FHA; Conventional Environmental: Super Fund/WQARF/DOD

Listing Office: Matthews Real Estate Investment Services

Office Phone: 310-388-0788

Office Email: david.harrington@matthews.com

Last Updated: October - 15 - 2026