10213 N 15th Ave, Phoenix, AZ for sale

Investment Overview

From an investment standpoint, the offering delivers a 6.45% cap rate on in-place income of $38,877, with a clear path to a 6.87% proforma cap as gross scheduled income moves to $40,800 and cash-on-cash return improves from 3.50% to 5.57%. The property currently operates under owner management, leaving room in the proforma for professional management efficiencies and rent optimization on approximately $1,923 of annual upside. The location is a key value driver: sited on 15th Avenue minutes from both the Black Canyon Freeway (I-17) and the Piestewa Freeway (SR-51), the property offers tenants direct access to Downtown Phoenix and Midtown employment corridors, within a three-mile radius serving 148,848 residents and 36,792 renter-occupied households at an average income of $87,735. The result is a well-located, cash-flowing asset with immediate income, defined rent upside, and a scarce small-lot profile—an ideal acquisition for a private investor or 1031 buyer seeking a stable, manageable asset with room to grow.