Description

5 on 12th St Apartments is a five-unit multifamily offering at 9511-9515 North 12th Street in Phoenix’s North Central Phoenix / Sunnyslope submarket. Its separately platted duplex and triplex give buyers distinct components within a single investment.

The Property comprises 3,200 SF on 0.29 acres, with an average unit size of 640 SF. The mix includes three two-bedroom residences and two one-bedroom residences. Four buildings create a courtyard-style setting, while private backyards give each residence outdoor space. Most units have washer and dryer hookups. Eight parking spaces, including three covered spaces, support the residential layout. The building arrangement also gives an incoming operator a way to phase work by building.

On the east side of Sunnyslope, the Property sits near North Mountain and the Phoenix Mountains Preserve, giving residents access to hiking and outdoor recreation. Nearby 7th Street, Cave Creek Road, Northern Avenue, and Dunlap Avenue connect the neighborhood with shopping, dining, and employment across Central Phoenix. Recently renovated homes, small apartment properties, and a new duplex next door place the offering among other residential properties receiving investment in the immediate area.

The $600,000 asking price equates to $120,000 per unit and $187.50 PSF. With $49,787 in NOI and a 6.04% return on cost, the offering gives an investor a defined basis for examining the renovation plan. Below-market in-place rents are central to that plan: the duplex and triplex configuration lets an owner approach improvements in phases rather than treating all five residences as one project. Review the Offering Memorandum for the investment details.