$3,487,500
Phoenix, AZ 85008
MLS# 6921463
Status: Closed
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Property Description
Tropicana Apartments is a well-positioned, mostly renovated 20-unit multifamily community in the desirable Papago submarket of Metro Phoenix. Built in 1979 on 1.31 acres, the property offers 14,960 square feet of rentable space with a mix of floor plans averaging 748 square feet. Since 2020, the property has benefited from more than $420,000 in capital improvements, including pool refinishing, upgraded landscaping, new appliances, cabinetry, countertops, entry gate enhancements, and the installation of 15 new HVAC units, among other updates.
Details
Contract Info
Current Price: $3,487,500
Sold Price: $3,487,500
Status: Closed
List Date: 2025-09-04
Ownership: Fee Simple
Location, Tax & Legal
House Number: 2011
Compass: N
Street Name: 51ST
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85008
Zip4: 4238
Country: US
County Code: Maricopa
Subdivision: ORANGEDALE TRACT 1,2, & 7,8
Assessor Number: 126-21-011
Tax Year: 2024
General Property Description
Lot Size Dimensions: N/A
Year Built: 1979
Uncvrd Parking Spcs: 25
Total # of Units: 20
# of Buildings: 3
Zoning: R-3
Flood Zone: No
Elementary School District: Balsz Elementary District
High School District: Phoenix Union High School District
Legal Info
Township: 2N
Range: 4E
Section: 32
Lot Number: 12
Showing Notification Methods
Showing Service: No Showing Service Used
Efficiency Units
# Efficiency Units: 1
Avg Rent: 1009.93
Avg SqFt: 350
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 16
Avg Rent: 1420.8
Avg SqFt: 700
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1575
Avg SqFt: 855
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 2283.75
Avg SqFt: 1650
# Baths: 2
Sold Info
Loan Type: Other
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Remarks Misc
Cross Street: 51st Street & McDowell
Geo Lat: 33.469698
Geo Lon: -111.971136
Status Change Info
Off Market Date: 2026-06-04
Under Contract Date: 2025-11-13
Close of Escrow Date: 2026-06-09
Sold Price: $3,487,500
Income Expenses
Gross Annual Sch Inc: 376680
Net Operating Income: 267579.9
Property Features
Project Type: 13 - 24 Units
Construction: Block
Const - Finish: Painted; Other (See Remarks)
Roofing: Composition
Floors: Ceramic Tile
Sale Includes: Building(s) Only; Land & Building; Pool Equipment; Laundry Equipment
Community Features: Pool; Barbecue
Exterior Amenities: Landscape Water System; Desert Landscaping; Fenced; Partially Fenced; Separate Storage
Interior Features: Unfurnished; Fire/Smoke Alarm(s)
Appliances Included: Built-In Electric Oven; Free-Standing Electric Oven; Built-In Range; Refrigerator; Dishwasher; Disposal; Washer/Dryer
Heating: Ceiling; Individual; Heat Pump
Cooling: Ceiling Fan(s); Electric; Individual; Central Air
Water Source: City Franchise
Sewer: Sewer - Public; Sewer-In & Connected
Electric: SRP
Gas: None
Parking Features: Garage; On Street; >1 Space Per Unit; Free; Paved
Road Access Type: Dedicated Street
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping; Pool Maintenance
Tenant Pays: Electricity
Source of Fincl Data: Owner; Projected Proforma
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
New Financing: Cash; Conventional; No Carry; 1031 Exchange
Environmental: None
Listing Office: Orion Investment Real Estate
Last Updated: June - 09 - 2026
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