Thirteen on 32nd Street Apartments, a prime 13-unit multifamily investment opportunity located in the heart of Phoenix, Arizona. This high-demand asset is positioned directly across from the Celebrity Theatre and just minutes from Phoenix Sky Harbor International Airport, with immediate access to the 202, SR-51, and I-10 freeways. Residents benefit from quick commutes to Downtown Phoenix and major employment hubs throughout the airport corridor.
525 & 526 N 32nd Street, Phoenix, AZ APNs: 121-17-026-A & 121-17-028-A This offering includes two contiguous parcels totaling approximately 10,498 square feet of rentable space across 13 units. The diversified unit mix offers strong leasing flexibility and long-term cash flow potential: Five legal studio units (Unit 7: ~400 SF; Units 6, 8, 9, 10: ~250 SF)
One additional studio (Unit 12A: ~250 SF, seller-added)
Current Rents: $750-$850 | Market Rent: ~$950
Six one-bedroom units (Units 1-5: ~600 SF; Unit 11: ~375 SF)
Current Rent: ~$850 | Market Rent: ~$950
One detached single-family residence featuring a 2-bedroom, 1-bath home with an attached 1-bedroom apartment
Rents are currently below market, offering investors a clear path to value-add upside through rental increases, improved management, and light renovations. Additional income is generated from tenant storage units (average $25/month), and the property also features an on-site laundry facility.
Tenants enjoy private patios or balconies, and the property is within close proximity to Valleywise Health Medical Center, the VA Hospital, and other major employers in this thriving urban submarket.
This is a rare opportunity to acquire a well-located, income-producing asset in a high-growth area with strong fundamentals and long-term appreciation potential.
All facts and figures approximate buyer verify information
For sale
Price cut: $45K (7/17)
$1,450,000
525-526 N 32nd St #1-13, Phoenix, AZ 85008
8beds
3baths
6,712sqft
Est.:
Multi Family
Built in 1978
-- sqft lot
$-- Zestimate®
$216/sqft
$-- HOA
What's special
- 58 days
- on Zillow |
- 224 |
- 15 |
Zillow last checked: 7 hours ago
Listing updated: July 17, 2025 at 01:01pm
Listed by:
Sophia J Willets 561-269-9525,
Grace CRE,
Garrett Pedicini 602-791-9497,
Grace CRE
Source: ARMLS,MLS#: 6881870

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 3
Heating
- Other, Individual, Central, Window/Wall Unit(s)
Cooling
- Wall/Window Unit(s)
Appliances
- Included: See Remarks, Free-Standing Electric Oven
Features
- Flooring: Carpet, Ceramic Tile, Vinyl
Interior area
- Total structure area: 6,712
- Total interior livable area: 6,712 sqft
Property
Parking
- Total spaces: 14
- Parking features: Paved, Free
- Uncovered spaces: 14
Details
- Parcel number: 12117028
- Zoning: R-3
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Painted, Stucco, Block
- Roof: Composition,Built-Up
Condition
- Year built: 1978
Utilities & green energy
- Electric: APS
- Sewer: Other, Public Sewer
- Water: See Remarks, City Franchise
Community & HOA
Community
- Features: Other, See Remarks, No Pool
- Subdivision: SHELTON ADD LOT 20 W2 S 75' BLK 1 EX W 7'
Location
- Region: Phoenix
Financial & listing details
- Price per square foot: $216/sqft
- Annual tax amount: $2,763
- Date on market: 6/13/2025
- Listing terms: Owner May Carry,Conventional,VA Loan
- Ownership: Fee Simple
- Electric utility on property: Yes
- Road surface type: Asphalt
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