2440 E MONROE Street, Phoenix, AZ 85034
$609,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$609,000
Last Modified:
2/16/2026
Description
Fantastic location within walking distance to the light rail, close to the airport and downtown Phoenix. Exterior recently painted, new roofs, laundry in 4 of the 5 units, 4 new a/c units and all units have tankless hot water heaters. Each of the units have had improvements upon vacancy such as:
tiled flooring, tiled showers, backsplash and interior paint. Property is individually metered for electric. Lots of investor development in this area!
More Information MLS# 6913810
Contract Info
Ownership: Fee Simple
Current Price: $609,000
List Price: $609,000
Status: Active
List Date: 2025-09-02
Location, Tax & Legal
Assessor's Map #: 63
Legal Description (Abbrev): HIALEAH MCR 20-46 LOT 4 BLK 2 & ALSO S2 ABAND ALLEY LY N SD LOT
Assessor's Parcel #: 16
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 113801
Taxes: 2144
Legal: HIALEAH MCR 20-46 LOT 4 BLK 2 & ALSO S2 ABAND ALLEY LY N SD LOT
Marketing Name: n/a
House Number: 2440
Compass: E
Street Name: MONROE
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85034
Zip4: 1433
County Code: Maricopa
Subdivision: HIALEAH
Assessor Number: 121-63-016
Tax Year: 2024
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 5
Lot Size Dimensions: 7754
Flood Zone: No
Total # of Units: 5
Elementary School District: Wilson Elementary District
High School District: Phoenix Union High School District
Jr. High School: Wilson Elementary School
Year Built: 1940
Zoning: R4
Legal Info
Range: 3E
Section: 11
Township: 1N
Lot Number: 4
Project Type
Duplex: 1
Tri-Plex: 1
Construction
Block: 1
Wood Frame: 1
Const - Finish
Vinyl Siding: 1
Painted: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 1302
Annual Land Lse Exp: 0
Annual Landscape Exp: 500
Annual Legal & Acctg: 0
Annual Maint Exp: 700
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 5095.64
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 9741.64
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 76800
Total Monthly Rental Income: 6400
Pmt & Rate Info
Cap Rate: 7.81
Equity: 859000
Down Payment %: 100
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Text: 1
Email: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Central Air: 1
2 or More Units: 1
Exterior Amenities
Fenced: 1
Interior Features
Fire/Smoke Alarm(s): 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Free-Standing Electric Oven: 1
Refrigerator: 1
W/D Hookup: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
1 Space/Unit: 1
Electric
APS: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Landscaping: 1
New Financing
Cash: 1
VA: 1
Conventional: 1
FHA: 1
No Carry: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
# Efficiency Units: 1
Avg Rent: 1150
Avg SqFt: 437
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 3
Avg Rent: 1250
Avg SqFt: 438
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1550
Avg SqFt: 821
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: 24th St & Van Buren
Directions: East on Van Buren St, South on 24th St, West on Monroe St, subject property on the left.
Geo Lat: 33.450606
Geo Lon: -112.028163
Income Expenses
Gross Annual Sch Inc: 76800
Net Operating Income: 67058.36
Property Features
Project Type: Duplex; Tri-Plex
Construction: Block; Wood Frame
Const - Finish: Vinyl Siding; Painted
Roofing: Composition
Floors: Vinyl; Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Fenced
Interior Features: Fire/Smoke Alarm(s)
Appliances Included: Free-Standing Electric Oven; Refrigerator; W/D Hookup
Cooling: Central Air; 2 or More Units
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: None
Parking Features: 1 Space/Unit
Road Surface Type: Asphalt
Owner Pays: Water; Landscaping
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner
Showing Notification Methods: Text; Email
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
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: Cash; VA; FHA; Conventional; No Carry
Environmental: None
Listing Office:
Open House Realty
Last Updated: February - 16 - 2026
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