$550,000
Phoenix, AZ 85009
MLS# 6978483
1 / 21
Property Description
Matthews™ is pleased to present 2032 W Adams St, a four-unit apartment community located near Downtown Phoenix. Originally constructed in 1938, the property features a mix of studio, one-bedroom, and two-bedroom units, two of which are currently occupied. Current ownership has made upgrades to each of the unit interiors to various levels, including kitchens, bathrooms, in-unit electrical panels, and plumbing. Future ownership will have the opportunity to capture additional value-add upside through continued interior and exterior renovations. The property sits just outside of Downtown Phoenix, with easy proximity to Downtown government buildings, employment centers, and freeway access.. Great opportunity for either an investor or owner-occupant.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $550,000
List Price: $550,000
Status: Active
List Date: 2026-02-02
Location, Tax & Legal
Assessor's Map #: 31
Legal Description (Abbrev): CAPITOL MCR 2/13 LOT 17 & E 15F LOT 16 BLK 51
Assessor's Parcel #: 68
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 114402
Taxes: 965
Legal: CAPITOL MCR 2/13 LOT 17 & E 15F LOT 16 BLK 51
Marketing Name: Adams Fourplex
House Number: 2032
Compass: W
Street Name: ADAMS
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85009
Zip4: 5286
County Code: Maricopa
Subdivision: CAPITOL ADDITION
Assessor Number: 109-31-068-A
Tax Year: 2025
General Property Description
# of Buildings: 3
Uncvrd Parking Spcs: 4
Lot Size Dimensions: 70X100
Total # of Units: 4
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Year Built: 1938
Zoning: R-3
Legal Info
Range: 2E
Section: 12
Township: 1N
Lot Number: 17
Project Type
Four Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Composition: 1
Floors
Carpet: 1
Other: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Ins Exp: 1823
Annual Mgmt Exp: 3918
Annual Wtr/Swr Exp: 4136
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 10842
Other Income: 2215
Vacancy Allowance: 0
Adjusted Gross Inc: 52555
Pmt & Rate Info
Cap Rate: 6.61
Down Payment: 0
Equity: 550000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Lockbox Type
See Private Remarks: 1
Community Features
No Pool: 1
Heating
Electric: 1
Natural Gas: 1
Cooling
Evaporative Cooling: 1
Electric: 1
2 or More Units: 1
Exterior Amenities
Desert Landscaping: 1
Partially Fenced: 1
Cable TV Available: 1
Interior Features
Unfurnished: 1
Tenant Pays
Electricity: 1
Other (See Remarks): 1
Appliances Included
Free-Standing Range: 1
Road Surface Type
Dirt: 1
Gravel: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Books Shwn Accpt Ofr: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Sewer-In & Connected: 1
Parking Features
Other: 1
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Other: 1
New Financing
Conventional: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
Other (See Remarks): 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
# Efficiency Units: 1
Avg Rent: 350
Avg SqFt: 200
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 500
Avg SqFt: 300
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 500
Avg SqFt: 1200
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: 19th Ave & Adams St
Geo Lat: 33.449508
Geo Lon: -112.103632
Income Expenses
Gross Annual Sch Inc: 50340
Net Operating Income: 36329
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted; Stucco
Roofing: Composition
Floors: Carpet; Other
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Partially Fenced; Cable TV Available
Interior Features: Unfurnished
Appliances Included: Free-Standing Range
Heating: Natural Gas
Cooling: Electric; Evaporative Cooling; 2 or More Units
Water Source: City Franchise
Sewer: Sewer - Public; Sewer-In & Connected
Electric: APS
Gas: SW Gas
Parking Features: Other
Road Surface Type: Gravel; Dirt
Owner Pays: Water; Trash Collection; Other
Tenant Pays: Electricity; Other (See Remarks)
Source of Fincl Data: Owner; Projected Proforma; Books Shwn Accpt Ofr
Lockbox Type: See Private Remarks
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Fixed
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional
Environmental: Other (See Remarks)
Listing Office: Matthews Real Estate Investment Services
Last Updated: February - 02 - 2026
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