2011 N 51ST Street, Phoenix, AZ 85008 (MLS# 6921463)

2011 N 51ST Street, Phoenix, AZ 85008

$3,999,000

Property Type: Multiple Dwellings Status: Active

Current Price: $3,999,000 Last Modified: 10/01/2025

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.

More Information MLS# 6921463

Contract Info

Ownership: Fee Simple Current Price: $3,999,000 List Price: $3,999,000 Status: Active List Date: 2025-09-04

Location, Tax & Legal

Assessor's Map #: 21 Legal Description (Abbrev): ORANGEDALE TR PT LOT 12 BEG 175.83' S OF NE COR W 175.91' TO PT BEG W 456.29' WH IS 15' E FR & Assessor's Parcel #: 11 Add'l Parcels: No Tax Municipality: Phoenix Census Tract: 111201 Taxes: 8436 Legal: ORANGEDALE TR PT LOT 12 BEG 175.83' S OF NE COR W 175.91' TO PT BEG W 456.29' WH IS 15' E FR & Marketing Name: Tropicana Apartments House Number: 2011 Compass: N Street Name: 51ST St Suffix: Street City/Town Code: Phoenix State/Province: AZ Zip Code: 85008 Zip4: 4238 County Code: Maricopa Subdivision: ORANGEDALE TRACT 1,2, & 7,8 Assessor Number: 126-21-011 Tax Year: 2024

General Property Description

# of Buildings: 3 Uncvrd Parking Spcs: 25 Lot Size Dimensions: N/A Flood Zone: No Total # of Units: 20 Elementary School District: Balsz Elementary District High School District: Phoenix Union High School District Year Built: 1979 Zoning: R-3

Legal Info

Range: 4E Section: 32 Township: 2N Lot Number: 12

Project Type

13 - 24 Units: 1

Construction

Block: 1

Const - Finish

Painted: 1 Other (See Remarks): 1

Roofing

Composition: 1

Floors

Ceramic Tile: 1

Sale Includes

Building(s) Only: 1 Land & Building: 1 Pool Equipment: 1 Laundry Equipment: 1

Income & Expenses

Owner Association: No Annual Ownr Asoc Fee: 0 Operating Exp: 8436 Other Income: 28178.63 Vacancy Allowance: 0.06 Adjusted Gross Inc: 380567.11

Pmt & Rate Info

Cap Rate: 6.69 Equity: 3999000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0

Showing Notification Methods

Showing Service: No Showing Service Used Text: 1 Email: 1 Phone Call: 1

Lockbox Type

None: 1

Community Features

Pool: 1 Barbecue: 1

Heating

Ceiling: 1 Heat Pump: 1 Electric: 1 Individual: 1

Cooling

Ceiling Fan(s): 1 Central Air: 1 Electric: 1 Individual: 1

Exterior Amenities

Landscape Water System: 1 Desert Landscaping: 1 Fenced: 1 Partially Fenced: 1 Separate Storage: 1

Interior Features

Unfurnished: 1 Fire/Smoke Alarm(s): 1

Tenant Pays

Electricity: 1

Appliances Included

Built-In Electric Oven: 1 Dishwasher: 1 Disposal: 1 Free-Standing Electric Oven: 1 Refrigerator: 1 Built-In Range: 1 Washer/Dryer: 1

Road Access Type

Dedicated Street: 1

Road Surface Type

Asphalt: 1

Source of Fincl Data

Owner: 1 Projected Proforma: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1 Sewer-In & Connected: 1

Parking Features

Garage: 1 Free: 1 On Street: 1 >1 Space Per Unit: 1 Paved: 1

Electric

SRP: 1

Gas

None: 1

Owner Pays

Water: 1 Sewer: 1 Trash Collection: 1 Landscaping: 1 Pool Maintenance: 1

New Financing

Cash: 1 Conventional: 1 No Carry: 1 1031 Exchange: 1

Reports/Disclosures

None: 1

Environmental

None: 1

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

4 Bedrooms Units

Avg Rent: 0

Remarks Misc

Cross Street: 51st Street & McDowell Geo Lat: 33.469698 Geo Lon: -111.971136

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: October - 01 - 2025