2535 E Southgate Avenue, Phoenix, AZ 85040, Phoenix, 85040 - 3 bed, 2 bath
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Phoenix, AZ 85040
This Turnkey Multi-Family Zoned Residence is listed at $335,000, aligning closely with its $331,192 Fair Market Value. Boasting a Condition Rating of 2, the home features a Modern Remodeled Interior and a Covered Patio on a high-utility 7,875 Sqft Lot. The property’s most significant financial advantage is a rare 2.25% Assumable Interest Rate, offering substantial monthly savings compared to current market rates. While local schools like Percy L Julian carry lower ratings, the Multi-Family Zoning provides excellent long-term income potential. This is a strategic acquisition for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2535 E Southgate Avenue Subject | $335,000* List Price | 3 | 2 | 1,208 | $274 | - |
A 2437 E TAMARISK Avenue Sold | $385,000 | 3 | 2 | 1,346 | $286 | 0.4 mi |
B 5020 S 20TH Place Sold | $335,000 | 3 | 2 | 1,269 | $264 | 0.9 mi |
C 1801 E Warner Street Sold | $379,900 List Price | 3 | 2 | 1,504 | 1.0 mi | |
D 5024 S 20TH Street Sold | $325,000 | 3 | 2 | 1,668 | $195 | 1.0 mi |
E 2905 E CHIPMAN Road Sold | $350,000 | 3 | 2 | 1,364 | $257 | 0.7 mi |
F 2949 E WIER Avenue Sold | $367,000 | 3 | 2 | 1,454 | $252 | 0.7 mi |
G 2532 E JONES Avenue Active | $315,000 List Price | 3 | 2 | 1,166 | $270 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Despite being built in 1945, the property has undergone an extensive recent remodel, making it move-in ready. The interior features new carpeting, fresh neutral paint, and updated fixtures. The kitchen and bathrooms have been modernized, and the property is described as a turnkey renovation with no deferred maintenance, meeting the criteria for a home extensively renovated within the last 5 years.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7875, living area = 1208.
The rare 2.25% assumable interest rate provides a massive financial advantage, offering significantly lower monthly payments compared to current market rates.
Zoned for multi-family use on a generous 7,875 sqft lot, the property offers excellent income potential or future development opportunities for investors.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1208, other record living area = 1300.
The assigned schools have low ratings (2/10 and 3/10), which may be a significant drawback for families prioritizing educational performance.
Built in 1945, the property may have underlying maintenance requirements or aging systems typical of older homes despite the cosmetic updates.
2.25% ASSUMABLE Interest Rate!!!!! Gorgeous remodeled home in South Phoenix with a functional floor plan and generous lot size. Kitchen offers ample cabinet space and the bedrooms are comfortably sized. Convenient location near shopping, dining, schools, and freeway access for easy commuting. Property is zoned multi-family, offering additional income potential. Great opportunity for homeowners or investors.
No exterior & parking available.
Grades K-8 • 0.7 mi
Grades 9-12 • 2.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,208 | 1,454 | 28% |
| Lot Size | 7,875 | 6,003 | 85% |
| Price | $335.0K | $328.8K | 51% |
| Price per sq ft | $277 | $222 | 82% |
| Built year | 1945 | 2003 | 5% |
| HOA | $0 | $0 | 50% |
| Days on market | 59 | 978 | 1% |
Feb 26, 2026
$335,000
Initial Listing