Phoenix Multi-Family Properties
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Rare Investment Opportunity: Prime Multi-Family Package in Phoenix Unlock exceptional value with this versatile investment opportunity located in central Phoenix. Conven...
- ACTIVE Status
- 2 Beds
- 2 Baths
- 7079408 MLS
Rare opportunity to own a newly built, permitted duplex completed in 2025, offering immediate turnkey rental income with furnished tenants secured through August 2027. Th...
- ACTIVE Status
- 7 Beds
- 9 Baths
- 7079145 MLS
Turnkey investment opportunity with tenants already in place! This duplex offers immediate rental income, with each unit featuring 2 bedrooms and 1 bathroom. Unit 1 has b...
- ACTIVE Status
- 4 Beds
- 2 Baths
- 7078878 MLS
This exceptional duplex, built in 2024, presents a fantastic investment opportunity in a highly desirable Central Phoenix location. Both units are currently tenant-occupi...
- ACTIVE Status
- 8 Beds
- 8 Baths
- 7078551 MLS
Prime downtown Phoenix multifamily opportunity just steps from the vibrant Roosevelt Row Arts District. This property offers unbeatable walkability to restaurants, local ...
- ACTIVE Status
- 8 Beds
- 8 Baths
- 7078296 MLS
1022 North 22nd Place is a 4-unit, garden-style apartment community built in 1986, featuring a desirable unit mix of 100% two-bedroom, one-bathroom apartments. Each unit ...
- ACTIVE Status
- 8 Beds
- 4 Baths
- 7077446 MLS
1018 North 22nd Place is a 4-unit, garden-style apartment community built in 1986, featuring a desirable unit mix of 100% two-bedroom, one-bathroom apartments. Each unit ...
- ACTIVE Status
- 8 Beds
- 4 Baths
- 7077428 MLS
Well-maintained fourplex in Palomino Point/Greenway Manor featuring one 1-bedroom, two 2-bedroom, and one 3-bedroom unit. Three units have been completely remodeled recen...
- ACTIVE Status
- 8 Beds
- 7 Baths
- 7076952 MLS
Incredible Investment Opportunity in the Heart of Historic Garfield - A rare and highly desirable 4-unit multifamily property nestled in one of Phoenix's most sought-aft...
- ACTIVE Status
- 12 Beds
- 8 Baths
- 7076583 MLS
This is a great opportunity to acquire 3 well maintained, well-appointed quality homes each having a Casita/Rental Unit, in excellent rental locations. All leased to exc...
- ACTIVE Status
- 15 Beds
- 11 Baths
- 7076278 MLS
A five-unit multifamily investment opportunity in the heart of Phoenix, Arizona. Originally constructed in 1944, the asset features a mix of 1, 2, and 3 bedroom floor pla...
- ACTIVE Status
- 11 Beds
- 5 Baths
- 7075484 MLS
2140 W Heatherbrae is a high-demand, cash-flowing 3-unit multifamily property in Midtown Phoenix (85015). Featuring one single-story triplex with large 2-bed/1-bath units...
- ACTIVE Status
- 6 Beds
- 3 Baths
- 7074943 MLS
Live in the main home while collecting $2,190/month in rental income from two tenant-occupied guest houses! Located in the heart of the Garfield Historic District, offers...
- ACTIVE Status
- 4 Beds
- 4 Baths
- 7074894 MLS
Welcome to The Chesterfield! Fully remodeled and separately metered, this 11-unit apartment complex in Central Phoenix offers a rare combination of flexibility, design, a...
- ACTIVE Status
- 12 Beds
- 11 Baths
- 7074851 MLS
Phoenix 4 plex fully leased and upgraded. All units are 2x1 with laminate flooring throughout and updated bathrooms and kitchens. Units leased at market rate. Parking sla...
- ACTIVE Status
- 8 Beds
- 4 Baths
- 7074457 MLS
*AFFORDABLE DUPLEX PRICED THOUSANDS BELOW MARKET!* Excellent opportunity for an owner-occupant or investor. Each unit features **2 bedrooms, 2 baths and a private garage*...
- ACTIVE Status
- 4 Beds
- 4 Baths
- 7074366 MLS
Excellent opportunity to own a 4-unit income-producing property with renovations completed approximately 4-5 years ago. The property offers four separate units, providing...
- ACTIVE Status
- 8 Beds
- 4 Baths
- 7073941 MLS
Newly Built & Stabilized Phoenix Fourplex - Turnkey Investment Opportunity Exceptional opportunity to acquire a newly built, occupied fourplex completed in 2024. The p...
- ACTIVE Status
- 4 Beds
- 4 Baths
- 7072928 MLS
A rare multifamily investment opportunity in the heart of Phoenix, The Casitas consists of three separate parcels totaling 31,787 square feet near 21st Street and Camelba...
- ACTIVE Status
- 10 Beds
- 8 Baths
- 7072919 MLS
RARE 7-UNIT INVESTMENT OPPORTUNITY in a fantastic central Phoenix location! What truly sets this property apart is its unique configuration--7 total units spread across S...
- ACTIVE Status
- 12 Beds
- 29 Baths
- 7072442 MLS
Rare 2017 newer construction duplex in Phoenix! This modern, low-maintenance property offers immediate cash flow with minimal upkeep in the high-demand 85007 zip code. Bu...
- ACTIVE UNDER CONTRACT Status
- 4 Beds
- 2 Baths
- 7072368 MLS
COLTER 9 at 810 E Colter St, Phoenix is a 9-unit value-add condo package in Uptown Phoenix. Built in 1962 with classic mid-century block construction, this asset provides...
- ACTIVE Status
- 16 Beds
- 14 Baths
- 7072364 MLS
Palm Square 24 is located at 15th and Camelback, in the heart of Phoenix, just a 1 mile+ to Uptown Plaza & the Melrose District. Addresses include 4819, 4815, & 4811. Und...
- ACTIVE Status
- 32 Beds
- 24 Baths
- 7072051 MLS
Brand new modern duplex available in Central Phoenix. It comes with 2 units, each with 3 bedrooms & 2.5 bathrooms. They feature a stylish contemporary design, open-concep...
- ACTIVE Status
- 6 Beds
- 6 Baths
- 7071607 MLS
GREAT MULTI-UNIT INVESTMENT PROPERTY! 100% occupancy. Four units with private entrances, spacious floor plans, and ample parking. Updates include 3 updated showers, hot ...
- ACTIVE UNDER CONTRACT Status
- 9 Beds
- 8 Baths
- 7071204 MLS
Amazing investment opportunity to own this brand-new duplex! Perfect for a first-time homebuyer looking to house hack or an investor seeking a low-maintenance property wi...
- ACTIVE Status
- 6 Beds
- 4 Baths
- 7071032 MLS
Fourplex available! Great Income! Perfect for a house hack opportunity. Features 4 units: a 2-bedroom/1-bath home with front and back yards and a driveway rented at $1,55...
- ACTIVE Status
- 6 Beds
- 4 Baths
- 7070756 MLS
Investment Opportunity: Expansive multi-property unit on nearly an acre lot, featuring 8 units including 3 duplexes, 3 houses (one with attached studio), and 2 separate s...
- ACTIVE Status
- 23 Beds
- 12 Baths
- 7070673 MLS
Extremely rare newer vintage duplex on over 0.5 acre parcel with the opportunity of adding additional units, McKinley II presents a unique value-add multifamily offering....
- ACTIVE Status
- 6 Beds
- 4 Baths
- 7069832 MLS
Uniquely located immediately behind Phoenix Children's Hospital just west of the SR-51 Freeway, Cambridge II presents a unique value-add duplex offering. Built in 1986...
- ACTIVE Status
- 4 Beds
- 2 Baths
- 7069799 MLS
None
- ACTIVE Status
- 40 Beds
- 40 Baths
- 7069727 MLS
Excellent multifamily opportunity in the Oakland Historic District near Downtown Phoenix. This duplex features two 1 bedroom / 1 bathroom units, each offering 525 square ...
- ACTIVE Status
- 2 Beds
- 2 Baths
- 7069355 MLS
Exceptional multi-family investment opportunity in a high-demand Phoenix rental corridor! This offering includes two well-maintained 4-plex buildings for a total of 8 inc...
- ACTIVE Status
- 16 Beds
- 16 Baths
- 7067839 MLS
1625 W Fillmore St is a 4-unit property being sold together with the parcel next door at 1629 W Fillmore St, for a combined 8-unit transaction. All units are 1-bed/1-bath...
- ACTIVE Status
- 4 Beds
- 4 Baths
- 7067660 MLS
1629 W Fillmore St is a 4-unit property being sold together with the parcel next door at 1625 W Fillmore St, for a combined 8-unit transaction. All units are 1-bed/1-bath...
- ACTIVE Status
- 4 Beds
- 4 Baths
- 7067657 MLS
This is a good financial opportunity and a truly rare opportunity to own a unique and somewhat mysterious piece of Phoenix history. Situated on just over an acre, at one ...
- ACTIVE Status
- 7 Beds
- 7 Baths
- 7067304 MLS
Creative financing available! Rare opportunity to own a highly updated duplex in Phoenix's established Taylor Park neighborhood. Two separate units offer flexibility for ...
- ACTIVE Status
- 3 Beds
- 2 Baths
- 7067227 MLS
RENOVATED FOUR-PLEX IN PRIME CAMELBACK EAST VILLAGE LOCATION WITH INCREDIBLE INCOME POTENTIAL! Beautifully updated and perfectly positioned between the highly desirable...
- ACTIVE Status
- 7 Beds
- 4 Baths
- 7066970 MLS
PACKAGE SALE: 2301 W Hayward Ave is being offered exclusively with 2305 W Hayward Ave. The properties must be purchased together and will not be sold separately, creating...
- ACTIVE Status
- 7 Beds
- 3 Baths
- 7066909 MLS
Recently updated triplex in the heart of Downtown Phoenix, offering three separate 2-bedroom, 1-bath units on a 0.18-acre lot with six surface parking spaces. Each unit f...
- ACTIVE Status
- 6 Beds
- 3 Baths
- 7066827 MLS
The Heatherbrae 9 Portfolio is a prime, cash-flowing nine-unit multifamily property in Midtown Phoenix (85015). Featuring seven 2-bed/1-bath and two 1-bed/1-bath units ac...
- ACTIVE Status
- 16 Beds
- 9 Baths
- 7066520 MLS
Six on Heatherbrae is a high-demand, cash-flowing six-unit multifamily property in Midtown Phoenix (85015). Featuring two detached single-story triplexes with large 2-bed...
- ACTIVE Status
- 12 Beds
- 6 Baths
- 7066303 MLS
Great investment opportunity in Central Phoenix! This triplex was recently updated and each unit has a large living room, two-bedrooms, one bathroom, a spacious kitchen, ...
- ACTIVE Status
- 6 Beds
- 3 Baths
- 7065237 MLS
Excellent redevelopment opportunity with plans and permits already approved and paid for. BOTH PARCELS INCLUDED, PLEASE READ. This project consists of a full remodel and ...
- ACTIVE UNDER CONTRACT Status
- 8 Beds
- 7 Baths
- 7064950 MLS
INVESTMENT OPPORTUNITY to own THREE separate income-producing units. All three units are currently rented, providing immediate rental income. Convenient Phoenix location ...
- ACTIVE Status
- 7 Beds
- 4 Baths
- 7064937 MLS
This 4-unit property in Phoenix presents a compelling opportunity for the owner-occupant or buy-and-hold investor looking to enter or expand in one of the Valley's most r...
- ACTIVE Status
- 9 Beds
- 5 Baths
- 7064823 MLS
Cash Flowing Triplex, Priced to Trade Quickly, Market Rents, Low Expenses Near North Mountain, I17, Tile Flooring, Private Patio's, Lots of Parking, Individually Metered ...
- ACTIVE UNDER CONTRACT Status
- 5 Beds
- 3 Baths
- 7064724 MLS
Exceptional investment opportunity in the heart of Phoenix! This unique portfolio includes three separate single-family homes being offered together at one price: 830 S 1...
- ACTIVE Status
- 5 Beds
- 3 Baths
- 7064669 MLS
Alameda Villas Brand New Luxury Townhomes! Offering exceptional value with one of the lowest price-per-sqft opportunities in the Arcadia/Scottsdale area. Discover Alameda...
- ACTIVE Status
- 45 Beds
- 45 Baths
- 7064384 MLS
Excellent Central Phoenix investment opportunity! This 5-unit multifamily property features five 2-bedroom, 1-bath units with updated interiors and strong rental upside. ...
- ACTIVE Status
- 10 Beds
- 5 Baths
- 7063520 MLS
Experience the perfect blend of comfort and convenience in this fabulous single-story duplex! Discover a warm and inviting great room with wood-look flooring, neutral pal...
- ACTIVE Status
- 2 Beds
- 2 Baths
- 7063336 MLS
The Axl in Garfield is a 4-unit garden-style property of solid block construction, built in 1965, 1968, and 1996 and was extensively renovated and modernized in 2025, wit...
- ACTIVE Status
- 7 Beds
- 4 Baths
- 7062031 MLS
8939 N 8th Street offers investors the opportunity to acquire a fully leased, eight-unit multifamily property operating under a five-year Absolute NNN master lease with a...
- ACTIVE Status
- 10 Beds
- 8 Baths
- 7061722 MLS
Two stand alone duplexes, 4 large spacious units in total. LOTS of parking with additional guest parking available too. Tenants in place for several years. Prime central ...
- ACTIVE Status
- 4 Beds
- 4 Baths
- 7060954 MLS
NEW BUILD! MOVE-IN READY! CONTEMPORARY DESIGN! These two (2) NEW BUILD SINGLE FAMILY HOMES, on 1 lot, 1 APN #, same financing as a duplex. 1,600 SQ. FT. | 3 BEDROOMS | ...
- ACTIVE Status
- 6 Beds
- 50 Baths
- 7060645 MLS
Desert Jewel is an 11-unit, garden-style apartment community built in 1960 and renovated in 2017, located in the highly desirable Arcadia-Lite submarket of Phoenix. The p...
- ACTIVE Status
- 7060274 MLS
Fantastic investment opportunity! This well-maintained 4-plex features three spacious 1-bedroom, 1-bath units and one generous 2-bedroom, 1-bath unit. Conveniently locate...
- ACTIVE Status
- 7059467 MLS
Great opportunity! Embrace the perfect blend of modern style and everyday comfort in this beautiful single-story duplex! Discover a desirable open floor plan filled with ...
- ACTIVE Status
- 6 Beds
- 4 Baths
- 7059177 MLS
hree at Taylor Located in the heart of the rapidly revitalizing Phoenix, this well-positioned triplex offers an exceptional opportunity for both investors and owner-occup...
- ACTIVE Status
- 4 Beds
- 3 Baths
- 7058755 MLS
Four at Willetta is a stabilized, garden-style four-unit multifamily asset located in the highly desirable Biltmore/Arcadia corridor of Phoenix, Arizona. Constructed in t...
- ACTIVE Status
- 6 Beds
- 4 Baths
- 7058509 MLS
PRICE IMPROVEMENT Motivated Seller Great investment opportunity! This fully renovated triplex features two 2-bedroom, 1-bath units and one 3-bedroom, 2-bath unit. All ...
- ACTIVE Status
- 7057876 MLS
BRAND NEW and Turn Key completely rebuilt 5 unit apartments. New wiring, plumbing, AC, appliances, New Tile flooring, New cabinets, with granite countertops, new window t...
- ACTIVE Status
- 10 Beds
- 7057590 MLS
Seven-unit townhome portfolio in Encanto Village, one of Midtown Phoenix's most sought-after neighborhoods. Within 10 minutes of major employers, dining, nightlife, profe...
- ACTIVE Status
- 21 Beds
- 21 Baths
- 7057128 MLS
None
- ACTIVE Status
- 8 Beds
- 4 Baths
- 7057074 MLS
Words can't fully capture the value of this impeccably maintained four-plex, where pride of ownership is evident throughout. Ideally situated in a highly desirable rental...
- ACTIVE Status
- 8 Beds
- 4 Baths
- 7056928 MLS
Income producing Duplex built in 1926 on a 8,700 square foot lot (0.2 acres) in the Oakland subdivision. One 2 bed 1 bath unit and one 1 bed 1 bath unit. Construction is...
- ACTIVE UNDER CONTRACT Status
- 5 Beds
- 3 Baths
- 7055964 MLS
LIVE FOR LESS THAN HALF PRICE! Why rent when your tenant can help pay for your home? This outstanding 2022-built duplex offers the opportunity to live in one unit while a...
- ACTIVE UNDER CONTRACT Status
- 6 Beds
- 4 Baths
- 7055488 MLS
Seller financing available! This well-maintained four-unit property features four 2-bedroom, 1-bathroom units, each with its own in-unit laundry. The property has been ex...
- ACTIVE Status
- 8 Beds
- 4 Baths
- 7055078 MLS
Rare investment opportunity in Phoenix. This is a four-unit, two-story multifamily dwelling is designed for rental income with three of the four units currently occupied....
- ACTIVE Status
- 8 Beds
- 4 Baths
- 7053664 MLS
SELLER OFFERING $12,000 IN CLOSING CONCESSIONS! Use toward an interest-rate buydown or eligible closing costs. Built in 2025 with $70K+ in premium custom upgrades, th...
- ACTIVE Status
- 6 Beds
- 4 Baths
- 7053495 MLS
Row 31 is a newly constructed boutique style 31-unit community located at 1435 E Taylor St. in the desirable Garfield District just minutes from Downtown Phoenix. The ass...
- ACTIVE Status
- 42 Beds
- 570 Baths
- 7052542 MLS
Excellent multifamily investment opportunity on an R-5 zoned multifamily parcel. This fully remodeled duplex features two 2-bedroom, 1-bath units, updated in 2023 with mo...
- ACTIVE Status
- 4 Beds
- 2 Baths
- 7052276 MLS
Excellent investment opportunity in the heart of Phoenix! This well-maintained duplex offers immediate cash flow with two spacious units already occupied. Unit 1 features...
- ACTIVE Status
- 7 Beds
- 4 Baths
- 7052170 MLS
This 3-unit, garden-style historic property, originally constructed in 1916 and completely restored in 2022, offers a unique blend of character and modern upgrades. The p...
- ACTIVE Status
- 4 Beds
- 3 Baths
- 7051935 MLS
Price Reduced! This turnkey fourplex is located in North Phoenix & features large 915sqft units which are all 2 bed/2 bath. The unit interiors were fully remodeled in 2...
- ACTIVE Status
- 8 Beds
- 8 Baths
- 7051475 MLS
None
- ACTIVE Status
- 6 Beds
- 4 Baths
- 7050837 MLS
Great Potential. Heavy Industrial Zoning or can also be used as a Multi-Dwelling Unit. Home has a apartment for secondary living. Large covered Carport and Spacious L...
- ACTIVE Status
- 1 Beds
- 1 Baths
- 7050686 MLS
Live in the middle of everything while enjoying the character and charm that make Central Phoenix so special. Located in the highly sought-after Pierson Place Historic Di...
- ACTIVE Status
- 3 Beds
- 2 Baths
- 7048918 MLS
20% PRICE REDUCTION. Originally developed in 1960, the property's unit mix features a desirable blend of one studio (±4%) and spacious one-bedroom (±35%) and two-bedroom ...
- ACTIVE Status
- 45 Beds
- 390 Baths
- 7048772 MLS
1144 E Yuma St is a 14-unit multifamily property in Phoenix's Central City South neighborhood, built in 1942 and positioned as a value-add opportunity with substantial le...
- ACTIVE Status
- 15 Beds
- 14 Baths
- 7048694 MLS
Exceptional value-add opportunity in the heart of Phoenix. Situated on an expansive 14,000 SF lot, this 5-unit multifamily property offers tremendous potential for invest...
- ACTIVE Status
- 14 Beds
- 7 Baths
- 7048471 MLS
Fully occupied! All single level units inside a gated community, mix of one bedroom units (9) and two bedroom units (2). Newly updated kitchen with stainless appliances, ...
- ACTIVE Status
- 13 Beds
- 11 Baths
- 7046624 MLS
Built in 1967 and renovated in 2019, Villa Siena is entirely comprised of two-bedroom, one-bathroom floorplans. The clean, modernized interiors have been renovated with s...
- ACTIVE Status
- 28 Beds
- 196 Baths
- 7045894 MLS
Set behind mature trees on a flood-irrigated half-acre in Historic Medlock Place, this is one of the most unique opportunities currently available in Central Phoenix. Com...
- ACTIVE Status
- 6 Beds
- 5 Baths
- 7045805 MLS
Mountain View 8 Units consists of six one-bedroom/one-bathroom units and two studio units, offering investors a strong cash-flowing multifamily opportunity in North Centr...
- ACTIVE Status
- 8 Beds
- 8 Baths
- 7045461 MLS
204 E Hatcher Road presents a rare opportunity to acquire a well-maintained duplex in a strong North Central Phoenix location. Built in 2006, the property features two sp...
- ACTIVE Status
- 6 Beds
- 50 Baths
- 7045330 MLS
Rare opportunity to acquire a 4-unit portfolio within a boutique 7-unit townhome community in a highly desirable Central Phoenix location. Built in 2016, these well-maint...
- ACTIVE Status
- 12 Beds
- 12 Baths
- 7044366 MLS
Excellent four-unit multifamily investment property in the Phoenix metro area, minutes from Downtown Phoenix and the Sports Center. Updated in 2022, this well-maintained ...
- ACTIVE Status
- 4 Beds
- 4 Baths
- 7044182 MLS
Step into a century of character ! A Live -Work -Play opportunity in Midtown Phoenix with proven income stream. Multi Generational Living or Student off campus housing - ...
- ACTIVE Status
- 5 Beds
- 3 Baths
- 7043196 MLS
Extensively renovated 8-unit multifamily community located along the I-17 corridor in Central Phoenix. Originally constructed in 1958, the property recently underwent a c...
- ACTIVE Status
- 10 Beds
- 8 Baths
- 7043158 MLS
Fantastic investment opportunity in the heart of Phoenix! This unique property features two detached homes on one oversized 10,000+ square foot lot, offering immediate ca...
- ACTIVE Status
- 7 Beds
- 4 Baths
- 7042693 MLS
Great opportunity to buy three units, all the same size with 2 bed and 1 bath, middle unit vacant and fully remodeled including vinyl flooring, two units occupied and hav...
- ACTIVE Status
- 6 Beds
- 3 Baths
- 7042432 MLS
Tri-Plex in Phoenix with three rented units! There are two one bedroom one bathroomn units and a two bedroom one bathroom. Each unit has their own gated yards, living roo...
- ACTIVE Status
- 4 Beds
- 3 Baths
- 7040737 MLS
Exceptional fully occupied 4-plex in North Central Phoenix offering a highly desirable unit mix of four 2-bedroom, 2-bath units. Designed for tenant appeal, each residenc...
- ACTIVE Status
- 8 Beds
- 8 Baths
- 7040397 MLS
LIVE FOR LESS THAN HALF PRICE! Why rent when your tenant can help pay for your home? This outstanding 2025-built duplex offers the opportunity to live in one unit while ...
- ACTIVE Status
- 5 Beds
- 3 Baths
- 7040009 MLS
LIVE FOR LESS THAN HALF PRICE! Why rent when your tenant can help pay for your home? This outstanding 2025-built duplex offers the opportunity to live in one unit while ...
- ACTIVE Status
- 5 Beds
- 3 Baths
- 7040008 MLS
Down Payment Assistance programs are available for this duplex, with qualifying. Live in one side and use the other to offset your monthly payment! Eligible for FHA, VA, ...
- ACTIVE Status
- 5 Beds
- 3 Baths
- 7039988 MLS
Turnkey income today with exceptional upside for tomorrow. This unique multifamily opportunity features 2 detached single-family homes, each leased at $2,800/mo. and desi...
- ACTIVE Status
- 6 Beds
- 50 Baths
- 7039794 MLS
Outstanding turnkey investment opportunity! One of two side-by-side duplexes built in 2025, this well-designed property features two-story 3-bedroom, 2.5-bath residences,...
- ACTIVE Status
- 6 Beds
- 50 Baths
- 7039557 MLS
1 of 2 side-by-side duplexes built in 2025; 2-story; 2-car tandem garage; 3-bedrooms, 2.5 baths. currently rented at $2300 per unit; Fully occupied and stabilized. Excell...
- ACTIVE Status
- 6 Beds
- 50 Baths
- 7039540 MLS
Exceptional investment opportunity featuring a total of seven units, including a single-family residence & eligible for residential financing. This triplex must be sold w...
- ACTIVE Status
- 6 Beds
- 3 Baths
- 7039047 MLS
Exceptional investment opportunity featuring a total of seven units, including a single-family residence & eligible for residential financing. This fourplex must be sold ...
- ACTIVE Status
- 7 Beds
- 5 Baths
- 7039046 MLS
Turnkey 8-unit multifamily investment in the heart of the Biltmore area. This gated community features eight large 2-bedroom, 2-bath units with vaulted ceilings, private ...
- ACTIVE Status
- 16 Beds
- 16 Baths
- 7038917 MLS
Welcome to Three at Bumbalow - A Rare Triplex Investment in the Heart of Central Phoenix! Three at Bumbalow presents a unique opportunity to own a recently upgraded tr...
- ACTIVE Status
- 7 Beds
- 6 Baths
- 7038723 MLS
Seize this fantastic opportunity to own a well-located duplex close to schools, dining, highway access, and sports fields! Each unit features 3 spacious bedrooms, 2 bath...
- ACTIVE Status
- 8 Beds
- 8 Baths
- 7038283 MLS
An amazing investment opportunity in a fantastic central Phoenix location. This 4-plex offers updated units and plenty of off-street parking (4 covered/6 uncovered). All ...
- ACTIVE Status
- 10 Beds
- 6 Baths
- 7037733 MLS
Opportunities like this are genuinely rare in central Phoenix. Situated on a nearly 8,000 square foot lot in the heart of the Encanto neighborhood, this property offers t...
- ACTIVE Status
- 7 Beds
- 4 Baths
- 7037654 MLS
Investor Special! This duplex offers 2 bedrooms, 2 bathrooms, and a 2 car garage, conveniently located near the downtown area with easy access to I-17. The property has b...
- ACTIVE Status
- 8 Beds
- 4 Baths
- 7037205 MLS
Excellent value-add multifamily investment opportunity located in the growing Central Phoenix market. This unique 4-unit property offers strong income potential with majo...
- ACTIVE Status
- 11 Beds
- 60 Baths
- 7037076 MLS
Great investment opportunity in the highly desirable gated community of Palomino Point! This 4-plex is situated in a single building and features an excellent unit mix co...
- ACTIVE Status
- 14 Beds
- 14 Baths
- 7037040 MLS
4-unit apartment community. The front house was originally constructed in 1905, while the triplex was built in 1984 using block masonry. The property was extensively ren...
- ACTIVE Status
- 5 Beds
- 5 Baths
- 7036877 MLS
Unique multi-unit opportunity featuring three separate residences on one lot! Front home offers 3 bedrooms and 1 bathroom with spacious living areas, tile flooring and co...
- ACTIVE Status
- 6 Beds
- 3 Baths
- 7036189 MLS
Excellent investment opportunity! This 4-plex is ideally located near major freeways, shopping, dining, schools, and everyday conveniences, offering strong appeal for bot...
- ACTIVE Status
- 4 Beds
- 4 Baths
- 7036021 MLS
The Chadley at Madison Park is a 5-unit multifamily community originally built in 1958 and comprehensively renovated in 2026.Interior upgrades include updated electrical ...
- ACTIVE Status
- 11 Beds
- 6 Baths
- 7035981 MLS
Total 6 units of townhomes all 2 bedrooms/1.5bathroom in a community of total 99 units of Dunlap Condominiums, large 1108sqft for each unit, all units rented, each unit w...
- ACTIVE Status
- 12 Beds
- 72 Baths
- 7035349 MLS
Rare Uptown Phoenix 4plex+ compound on one lot that runs from Coolidge to Highland. 1st position Seller Financing available: 6% i/o & 40% down. 4 units/3 buildings: 746 W...
- ACTIVE Status
- 9 Beds
- 6 Baths
- 7034814 MLS
Great investment opportunity with this value add 4 plex consisting of 2 separate buildings on a large lot with a very open and spacious community courtyard perfect for ga...
- ACTIVE Status
- 8 Beds
- 4 Baths
- 7034632 MLS
Beautifully updated 3-unit triplex in the desirable Encanto neighborhood! This income-producing property at 2336 N 11th St offers excellent curb appeal with distinctive w...
- ACTIVE Status
- 8 Beds
- 5 Baths
- 7034464 MLS
Rare 2004 4-plex consisting of 3 bed 2 bath units. Room for rent increases. Very little competition for 3 bed family sized units in the area. In unit laundry, covered par...
- ACTIVE Status
- 12 Beds
- 8 Baths
- 7034315 MLS
Exceptional investment opportunity in the heart of Central Phoenix featuring six garden-style apartment units with an unbeatable location offering quick access to Downtow...
- ACTIVE Status
- 12 Beds
- 6 Baths
- 7033472 MLS
Copyright 2026 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
Phoenix, AZ Multi-Family Real Estate
The Broker Reserve is Phoenix’s leading brokerage for acquiring and selling multi-family properties. From duplexes and triplexes to apartment complexes and investment communities, we help investors identify income-producing opportunities that align with their long-term goals. With expert market analysis, strategic guidance, and precision negotiation, our team delivers exceptional results across every Phoenix multi-family investment.
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Multi-Family Real Estate in Phoenix
Executive Overview
Multi-family real estate in Phoenix has matured into a sophisticated, cycle-tested market supported by population growth, employment diversification, and relative affordability within the Mountain West. Investors are drawn to the city’s pro-business environment, landlord-friendly regulations, and a broad spectrum of asset types—from vintage workforce housing to institutional-quality, amenitized Class A product and build-to-rent communities. While elevated new supply has tempered rent growth recently, long-term fundamentals remain constructive, positioning multi-family investment properties in Phoenix for competitive, risk-adjusted returns over a full cycle.
Rental Demand: What’s Driving Absorption
Tenant demand in Phoenix is multi-threaded, providing a resilient base across boom and slowdown periods. Key tailwinds include:
- Population and in-migration: Phoenix has been a top destination for domestic movers seeking more space and lower living costs compared with coastal metros.
- Job growth and sector diversification: Expanding footprints in semiconductors, advanced manufacturing, logistics, healthcare, and business services support household formation and stable renter demand.
- Affordability relative to homeownership: Higher mortgage rates and rising home prices have extended renter tenure, particularly in entry-level and move-up renter cohorts.
- University and medical anchors: Arizona State University, growing research corridors, and major healthcare systems provide consistent leasing pipelines.
- Lifestyle and amenities: Outdoor recreation, new retail corridors, and transit improvements contribute to retention across Class A and Class B assets.
For investors, these factors collectively underpin occupancy and support the thesis for both stabilized acquisitions and value-add plays in multi-family real estate in Phoenix.
Investment Potential and Return Profiles
Multi-family investment properties in Phoenix can deliver a range of outcomes depending on strategy and basis. Over the next few years, return potential is likely to be shaped by interest rate normalization, the pace of new deliveries, and operational execution.
- Core and core-plus: Institutional-quality assets in prime submarkets target durable cash flow with modest growth, emphasizing tenant retention and expense control.
- Value-add Class B/C: The largest opportunity set historically involves renovating 1980s–2000s vintage stock to modern finishes, improving energy efficiency, and enhancing amenities to lift effective rents.
- Build-to-rent (BTR): Phoenix is a national leader in horizontal multi-family. BTR can offer single-family living with multi-family operations, capturing strong family-oriented demand and longer average tenancy.
- Small multi-family (2–20 units): Attractive to private buyers seeking hands-on management, forced appreciation through capex, and flexibility in financing and exit options.
Underwriting discipline is paramount: conservative rent growth assumptions, realistic lease-up timelines, and capex buffers can preserve yield as supply and financing conditions evolve.
Market Trends to Watch
Recent cycles in Phoenix showcase both strength and cyclicality:
- Supply wave and concessions: Elevated deliveries have created competitive lease-ups, periodic concessions, and tempered effective rent growth. As the pipeline normalizes, absorption should gradually improve.
- Interest rates and cap rates: Financing costs have widened equity yield targets and reset valuations. Opportunities may emerge where sellers face maturity pressure or where assumable low-rate debt exists.
- Operational focus: Operators that excel at resident experience, renewal management, and expense control (utilities, insurance, repairs) are outperforming in a competitive landscape.
- Demand mix: Workforce housing remains resilient given affordability constraints, while Class A assets compete on amenities, location, and brand.
These dynamics favor investors who can buy well, manage actively, and hold through stabilization periods.
Submarket and Neighborhood Insights
Granular market knowledge often drives alpha. Key areas include:
- Central Phoenix (Downtown, Midtown, Roosevelt Row): Strong renter pool, transit access, and cultural amenities. A mix of new Class A and older stock offers both core and value-add strategies.
- East Valley (Tempe, Mesa, Chandler, Gilbert): ASU-proximate demand, technology and manufacturing employers, and improving transit arteries. Tempe and Chandler skew toward higher-income renters; Mesa offers diverse vintage and price points.
- Scottsdale and North Phoenix: Premium demographics and high-credit tenants support core-plus plays. Renovated 1980s–2000s communities can capture rent premiums with measured capex.
- West Valley (Glendale, Peoria, Avondale, Goodyear, Surprise): Rapid growth supported by logistics, industrial expansion, and new infrastructure. BTR and workforce housing have strong traction.
- South Phoenix and Laveen: Emerging corridors benefiting from new retail and road improvements. Select value-add opportunities exist with careful underwriting of tenant profiles and capex scope.
Submarket selection should align with strategy: high-growth corridors for lease-up potential, infill for supply constraints and long-term rent durability.
Asset Types and Strategies
Investors in multi-family real estate in Phoenix can tailor strategy to risk tolerance and operational strengths:
- Stabilized Class A: Prioritize cost of capital, resident experience, and ancillary income (parking, pet fees, storage, smart-home premiums).
- Class B/C value-add: Focus on durable finishes, HVAC and roof upgrades, water-saving fixtures, and curb appeal that improves competitive positioning.
- Boutique and small multi-family: Leverage nimble renovations, in-house management, and local vendor relationships to create value quickly.
- Student-adjacent assets: Near ASU and satellite campuses, emphasize pre-leasing, roommate-friendly floor plans, and robust internet and study amenities.
- BTR communities: Operate with multi-family efficiencies while offering single-family layouts, garages, and private yards to reduce turnover.
Underwriting and Financial Considerations
Disciplined underwriting is essential for multi-family investment properties in Phoenix:
- Revenue: Model modest near-term rent growth where new supply is heavy; stress-test occupancy and concessions. Underwrite renewal/turnover splits and seasonality.
- Expenses: Track insurance trends, utility inflation, landscaping and pest control, pool maintenance, and HVAC service. Consider RUBS or sub-metering where feasible and compliant.
- Taxes: Reassess property tax projections post-sale to reflect reassessment risk. Validate any municipal residential rental taxes or phase-outs in effect at the time of acquisition.
- Capex: Budget for roofs, HVAC replacements, parking lot resurfacing, exterior paint, and plumbing. Prioritize upgrades that reduce operating costs and support rent premiums.
- Reserves: Maintain adequate operating and replacement reserves to navigate lease-up and macro volatility.
Financing Landscape
Capital availability remains selective but accessible for well-underwritten deals:
- Agency loans (Fannie Mae, Freddie Mac): Attractive for stabilized 5+ unit assets, with emphasis on DSCR, occupancy history, and sponsorship.
- Banks and credit unions: Relationship-driven terms for smaller deals and business plans with moderate capex.
- Bridge debt: Useful for heavy value-add or lease-up, often floating-rate with interest rate cap requirements; underwrite realistic exit debt assumptions.
- Assumable loans: Legacy low-coupon debt can be a pricing lever, subject to lender approval and potential supplemental financing.
- Prepayment structures: Model yield maintenance or step-down penalties to optimize exit timing.
Regulatory, Legal, and Tax Context
Arizona’s framework is generally landlord-friendly, but investors should confirm current statutes and local ordinances prior to closing:
- Landlord-tenant law: Streamlined processes relative to many coastal states; nonetheless, adhere strictly to notice and documentation requirements.
- Licensing and compliance: Verify city requirements for rental registrations, inspections, and business licenses.
- Rental taxes: Some municipalities have historically levied residential rental taxes; legislation has aimed to phase out or reduce these. Confirm current applicability and timing in your submarket.
- Fair housing and source-of-income rules: Maintain compliant screening and advertising practices; train staff and audit regularly.
- Short-term rentals: If considering hybrid strategies, verify local rules and HOA restrictions; most multi-family assets operate as long-term rentals.
Operations and Property Management Best Practices
Superior operations distinguish top-performing multi-family real estate in Phoenix:
- Leasing and renewals: Optimize pricing with market comps, manage concessions carefully, and prioritize renewal retention to minimize turn costs.
- Amenities and resident experience: Package lockers, fitness, co-working lounges, and pet amenities can drive premiums in competitive submarkets.
- Sustainability and resilience: Implement smart thermostats, low-flow fixtures, shade structures, reflective roofing, and drought-tolerant landscaping to cut costs and improve comfort in hot months.
- Vendor management: Build relationships with HVAC, roofing, and landscaping partners; negotiate portfolio rates where possible.
- Data and reporting: Track lead sources, application-to-lease conversion, work-order SLA, and delinquency to inform proactive decisions.
Risks and Mitigation
Prudent investors assess and mitigate the following risks:
- New supply: Focus on submarkets with barriers to entry or diversify across corridors to reduce exposure to lease-up competition.
- Interest rate and refinance risk: Target fixed-rate or hedged floating-rate debt; underwrite conservative exit cap rates.
- Insurance and climate: Anticipate premium variability; invest in heat-resilient building systems, preventative maintenance, and water management.
- Operational execution: Employ experienced third-party managers or build in-house capability; align incentives to NOI growth and resident satisfaction.
- Macroeconomic shocks: Maintain liquidity, avoid aggressive leverage, and use scenario analyses to protect downside.
Outlook: Medium-Term Perspective
As the development pipeline moderates and employment continues to diversify, Phoenix should regain balanced rent growth supported by steady in-migration and relative affordability. Multi-family investment properties in Phoenix are positioned to benefit from normalization in concessions, operational efficiencies, and the eventual stabilization of financing markets. Long-term, demand for quality rentals—especially well-located Class B value-add and BTR product—remains compelling.
Action Plan for Investors
To capitalize on opportunities in multi-family real estate in Phoenix, consider the following steps:
- Define strategy: Select core, value-add, BTR, or small multi-family based on risk tolerance, time horizon, and operational capacity.
- Target submarkets: Map employer nodes, transit, schools, and retail. Align asset class with local renter demographics.
- Build your team: Engage a Phoenix-focused broker, property manager, real estate attorney, tax advisor, and lender early.
- Underwrite conservatively: Stress-test occupancy, concessions, rates, and exit cap. Include realistic tax reassessment and insurance assumptions.
- Execute capex with precision: Prioritize improvements that yield measurable rent lifts or expense reductions; track payback periods.
- Monitor KPIs: Lease trade-outs, renewal rates, delinquency, work-order times, marketing conversions, and NOI margin.
- Plan your exit: Understand loan prepayment, buyer pools, and potential for supplemental debt or recapitalization.
Conclusion
Multi-family real estate in Phoenix offers a compelling blend of scale, liquidity, and growth, supported by enduring demand drivers and operational levers that investors can control. With disciplined underwriting, thoughtful submarket selection, and rigorous operations, multi-family investment properties in Phoenix can deliver resilient income and attractive total returns across market cycles.
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