1501 Grand Avenue

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1501 Grand Avenue

Phoenix, AZ 85007
Asking Price
$7.26M
Asset Type
Multifamily
Class
Class B

What's Special

Located at 1501 Grand Avenue in Phoenix, Arizona, this multifamily property sits within the historic Grand Avenue Arts District. The neighborhood is characterized by a mix of creative studios, local galleries, and independent retail spaces. The site offers proximity to the central business district and the government core of downtown Phoenix. Nearby amenities include various local restaurants and coffee shops, while transportation access is supported by the diagonal corridor’s connection to Interstate 10 and US-60. The property is situated for redevelopment or continued residential use catering to an urban-centric demographic. Typical tenant profiles for this location include young professionals working in the city center and individuals involved in the local arts and small business community. The asset is well-positioned for those seeking walkability to dining and entertainment while maintaining logistical access to the broader Phoenix metropolitan area.

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NOI
$80,000
Cap Rate
1.10%
DSCR
0.19
Underwater
Cash-on-Cash
-16.12%
Monthly Payment
$35,913.571
Annual Cash Flow
$-350,962.856

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