1942 W BERRIDGE Lane, Phoenix, AZ 85015

$2,100,000

Property Type: Multiple Dwellings Bedrooms: 24 Baths: 72 Status: Active

Current Price: $2,100,000 Last Modified: 10/19/2026

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

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

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)

Listing Office: ABI Multifamily

Office Phone: 602-714-1400

Last Updated: October - 19 - 2026