3702 E Polk Street, Phoenix, AZ 85008, Phoenix, 85008 - 0 bed, 0 bath
Loading property details...
Phoenix, AZ 85008
Analysis of 3702 E Polk Street, Phoenix, AZ 85008 is currently available with a list price of $575,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Phoenix Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
Built in 1983, this 41-year-old multi-family property is described as a 'value-add' opportunity with below-market rents, indicating dated interiors. While the roof and two HVAC units are recently updated (approx. 2 years old), the overall age and exterior condition suggest the units require cosmetic updates and minor repairs to reach modern standards.
The property is ideally situated minutes from Downtown Phoenix, Sky Harbor International Airport, and major freeways, ensuring high rental demand and low vacancy rates.
With current rents performing below market rates, there is a clear opportunity for investors to increase cash flow and achieve a higher cap rate through lease adjustments.
Recent capital improvements, including a two-year-old roof and two replaced HVAC units, provide immediate relief from major near-term capital expenditures.
The local elementary and high schools both have low ratings of 3, which may limit the property's appeal to long-term family-oriented tenants.
Only two of the four HVAC units have been recently replaced, leaving the buyer with potential replacement costs for the remaining older units in the near future.
Exceptional investment opportunity to acquire a well-located four-unit apartment Ideally situated just minutes from Downtown Phoenix, Phoenix Sky Harbor International Airport, and major freeways, this property offers strong rental demand and outstanding value-add potential. The property features four 2-bedroom, 1-bathroom units, providing an attractive unit mix for tenants. Investors will appreciate the significant upside in rental income, with below-market rents offering the opportunity to increase cash flow over time. Recent capital improvements include a roof replaced approximately two years ago and two HVAC units replaced approximately two years ago, helping to minimize near-term maintenance costs. Each unit is individually metered for electricity, while low City of Phoenix water, sewer, Trash and taxes contribute to an efficient operating expense ratio. All facts and figures are approximate, buyer to verify to their own satisfaction.
No exterior & parking available.
Grades PK-6 • 0.2 mi
Grades 9-12 • 3.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | - | - |
| Lot Size | - | - |
| Price | $575.0K | $228.9K |
| Price per sq ft | $0 | $256 |
| Built year | 1983 | 0 |
| HOA | $0 | $0 |
| Days on market | 5 | 4774 |
Jul 17, 2026
$575,000
Initial Listing