3611 N 5TH Avenue, Phoenix, AZ 85013 (MLS# 7030825)

3611 N 5TH Avenue, Phoenix, AZ 85013

$3,400,000

Property Type: Multiple Dwellings Bedrooms: 36 Baths: 288 Status: Active

Current Price: $3,400,000 Last Modified: 10/15/2026

Overview

Description

Melrose on 5th is a 12-unit multifamily community located in the highly sought after Melrose District. Originally built in 1961, the asset went through extensive repositioning in 2016 and features a rare mix of (12) 3-bedroom, 2-bathroom floor plans measuring approximately 1,200 square feet each. Unit interiors are all upgraded and feature washer/dryers, fully equipped kitchens with dishwashers and built-in microwaves, stainless steel appliances, faux vinyl wood flooring, and modernized bathrooms. Exterior amenities include gated access entry ways, charcoal barbeque grills, resort-style swimming pool, covered parking, and low maintenance desert landscaping. Great opportunity opportunity to acquire a well-maintained, renovated asset within one of Phoenix's strongest urban infill corridors.

Listing Details MLS# 7030825

Location, Tax & Legal

House Number: 3611
Compass: N
Street Name: 5TH
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85013
Zip4: 3734
Country: US
County Code: Maricopa
Subdivision: PARK NORTH
Assessor Number: 118-29-005-D
Tax Year: 2025

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: .40
Year Built: 1961
Uncvrd Parking Spcs: Yes
Total # of Units: 12
# of Buildings: Yes
Zoning: R-4
Elementary School District: Osborn Elementary District
High School District: Phoenix Union High School District

Legal Info

Township: 2N
Range: 3E
Section: 29

3 Bedrooms Units

# 3 Bedroom Units: 12
Avg Rent: 1795
Avg SqFt: 1200
# Baths: 24

More Information

Structure

Bedrooms Total: 36
Bathrooms Total: 288

Income Expenses

Gross Annual Sch Inc: 225094
Net Operating Income: 178903

Showing Notification Methods

Showing Service: No Showing Service Used

Property Features

Project Type: 5 - 12 Units Construction: Block Const - Finish: Other (See Remarks) Roofing: Built-Up Floors: Vinyl Sale Includes: Land & Building Community Features: Pool; Barbecue Exterior Amenities: Desert Landscaping Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer Heating: Individual Cooling: Electric; Individual Water Source: Master Meter Sewer: Sewer - Public Electric: Individual Meter Gas: SW Gas Parking Features: <1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Water; Gas; Trash Collection; Landscaping; Pool Maintenance Tenant Pays: Electricity Source of Fincl Data: Owner; Projected Proforma Showing Notification Methods: Text; Phone Call Lockbox Type: None New Financing: Cash; Conventional; 1031 Exchange 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