1942 W BERRIDGE Lane, Phoenix, AZ 85015

$2,200,000
Property Type: Multiple Dwellings Bedrooms: 24 Baths: 72 Status: Active
Current Price: $2,200,000 Last Modified: 9/21/2026

Overview

Description

Fully renovated, turn-key 12-unit multifamily asset located in the heart of vibrant Central Phoenix. This rare investment opportunity offers immediate cash flow and long-term upside in one of the city's most dynamic and accessible submarkets. Lamego Palms features spacious, thoughtfully updated two-bedroom, one-bathroom residences averaging approximately 900 square feet. Each unit offers modern finishes, upgraded kitchens and bathrooms, and an in-unit washer and dryer--premium amenities that enhance the resident experience and support strong tenant retention. The property also includes a detached bonus flex space equipped with plumbing and electrical, offering additional functionality and potential for an office, storage, or other ancillary use.

Listing Details MLS# 6865139

Location, Tax & Legal

House Number
1942
Compass
W
Street Name
BERRIDGE
St Suffix
Lane
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85015
Zip4
2122
Country
US
County Code
Maricopa
Subdivision
PARK MARYLAND AMD
Assessor Number
156-13-084-A
Tax Year
2024
Assessor's Map #
13
Legal Description (Abbrev)
LOT 8 PARK MARYLAND AMD MCR 007625
Assessor's Parcel #
84
Assessor Parcel Ltr
A
Add'l Parcels
No
Tax Municipality
Phoenix
Census Tract
106802
Taxes
5349
Legal
LOT 8 PARK MARYLAND AMD MCR 007625
Marketing Name
Lamego Palms

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
143.08x129.27x143.08x129.27
Year Built
1963
Uncvrd Parking Spcs
16
Total # of Units
12
# of Buildings
2
Zoning
R-4
High School District
Glendale Union High School District

Legal Info

Township
2N
Range
2E
Section
12
Lot Number
8

2 Bedroom Units

# 2 Bedroom Units
12
Avg Rent
1350
Avg SqFt
900
# Baths
6

More Information

Structure

Bedrooms Total
24
Bathrooms Total
72

Showing Notification Methods

Showing Service
No Showing Service Used

Project Type

5 - 12 Units
Yes

Efficiency Units

Avg Rent
0

1 Bedroom Units

Avg Rent
0

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Construction

Block
Yes
Brick
Yes

Const - Finish

Painted
Yes

Roofing

Built-Up
Yes

Floors

Concrete
Yes
Vinyl
Yes
Ceramic Tile
Yes

Sale Includes

Other (See Remarks)
Yes

Income & Expenses

Owner Association
No
Annual Ownr Asoc Fee
0
Operating Exp
5349
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
0
Total Monthly Rental Income
0

Pmt & Rate Info

Equity
2485000
Down Payment %
0
Monthly Payments
0
Total Owed
0

Lockbox Type

None
Yes

Community Features

Other
Yes

Heating

Electric
Yes

Cooling

Central Air
Yes

Exterior Amenities

Sidewalk(s)
Yes

Tenant Pays

Electricity
Yes
Cable TV
Yes

Appliances Included

Dishwasher
Yes
Disposal
Yes
Free-Standing Electric Oven
Yes
Washer/Dryer
Yes

Road Access Type

Alley
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Other (See Remarks)
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

>1 Space Per Unit
Yes

Electric

Other (See Remarks)
Yes

Gas

None
Yes

Owner Pays

Water
Yes
Trash Collection
Yes
Landscaping
Yes

New Financing

Other (See Remarks)
Yes

Reports/Disclosures

Other (See Remarks)
Yes

Environmental

Other (See Remarks)
Yes

Property Features

Project Type: 5 - 12 Units Construction: Block; Brick Const - Finish: Painted Roofing: Built-Up Floors: Concrete; Vinyl; Ceramic Tile Sale Includes: Other (See Remarks) Community Features: Other Exterior Amenities: Sidewalk(s) Appliances Included: Free-Standing Electric Oven; Dishwasher; Disposal; Washer/Dryer Cooling: Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: Other (See Remarks) Gas: None Parking Features: >1 Space Per Unit Road Access Type: Alley Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Cable TV Source of Fincl Data: Other (See Remarks) Lockbox Type: None New Financing: Other (See Remarks) Environmental: Other (See Remarks)
IDX
Listing Office: ABI Multifamily
Last Updated: September - 21 - 2026
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