3601 W MELVIN Street, Phoenix, AZ 85009

$1,000,000

Property Type: Multiple Dwellings Bedrooms: 12 Baths: 11 Status: Closed

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

Overview

Description

3601 W Melvin St is an 11-unit multifamily property located in the Estrella submarket of Phoenix, Arizona. Built in 1946, the asset consists of a gated community with a unit mix of (1) 2-bedroom and (10)1-bedroom apartments, averaging 453 square feet per unit and totaling approximately 4,980 square feet of rentable area. Strategically located just minutes from Downtown Phoenix, Sky Harbor Airport, and key employment hubs, this offering benefits from strong rental demand driven by workforce housing needs. With below-market rents, the property offers immediate upside through interior renovations and operational improvements. This asset is an ideal opportunity for investors seeking a low-basis, value-add multifamily opportunity in one of the fastest-growing metropolitan areas of the U.S.

Listing Details MLS# 6904880

Location, Tax & Legal

House Number: 3601
Compass: W
Street Name: MELVIN
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85009
Zip4: 4293
Country: US
County Code: Maricopa
Subdivision: WEST PHOENIX ADDITION
Assessor Number: 106-15-142
Tax Year: 2024

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 12428
Year Built: 1946
Uncvrd Parking Spcs: 13
Total # of Units: 11
# of Buildings: 3
Zoning: R-3
Elementary School District: Isaac Elementary District
High School District: Phoenix Union High School District
Elementary School: Alta E Butler School
High School: Carl Hayden High School

Remarks Misc

Cross Street: 35 Ave and Van Buren

Status Change Info

Off Market Date: 2025-09-24
Under Contract Date: 2025-09-23
Close of Escrow Date: 2025-10-06

Legal Info

Township: 1N
Range: 2E
Section: 3
Lot Number: Yes

More Information

1 Bedroom Units

# 1 Bedroom Units: 10
Avg Rent: 480
Avg SqFt: 418
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: Yes
Avg Rent: 580
Avg SqFt: 650
# Baths: Yes

Structure

Bedrooms Total: 12
Bathrooms Total: 11

Income Expenses

Gross Annual Sch Inc: 95820
Net Operating Income: 51851

Showing Notification Methods

Showing Service: Aligned Showings

Sold Info

Loan Type: Carryback
Loan Years: 3
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $

Property Features

Project Type: 5 - 12 Units Construction: Wood Frame; Brick Const - Finish: Stucco Roofing: Composition; Rolled Floors: Vinyl; Ceramic Tile Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Desert Landscaping; Fenced; Cable TV Available; Security Light(s) Interior Features: Unfurnished Appliances Included: Built-In Range; Refrigerator Cooling: Evaporative Cooling Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: >1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity; Gas Source of Fincl Data: Owner Special: Owner/Agent Lockbox Type: None Existing 1st Loan: Conventional Existing 1st Loan Type: Fixed Existing 1st Loan Terms: Assume - Qualify 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 to Loan; Conventional Environmental: None

Listing Office: Matthews Real Estate Investment Services

Office Phone: 310-388-0788

Office Email: david.harrington@matthews.com

Last Updated: October - 15 - 2026