2632 E GLENROSA Avenue, Phoenix, AZ 85016 (MLS# 5945552)

2632 E GLENROSA Avenue, Phoenix, AZ 85016

$680,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $680,000 Last Modified: 8/07/2026

Overview

Description

Multifamily re-development Opportunity! Recent sales in the neighborhood for updated like kind product has sold for $180,000+ per unit making this a great investments opportunity. Simply improve the existing 5 units on the property and increase rents that are currently under market. Site is R-3 zoned with numerous projects within the neighborhood selling through newly built product for $500,000-$600,000 per unit making this a great opportunity for re-development into new product. Listing is for two adjacent residential lots totaling 0.41 acres. Assemblage opportunity with the neighboring parcels and build a development from 26th street to 27th street (30+ unit potential). Buyer to confirm zoning, density, value and all other development issues independently with City of Phoenix.

Listing Details MLS# 5945552

Location, Tax & Legal

Map Code/Grid
P35
House Number
2632
Compass
E
Street Name
GLENROSA
St Suffix
Avenue
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85016
Zip4
5785
Country
US
County Code
Maricopa
Subdivision
CITRUS HEIGHTS LOTS 10-33
Assessor Number
163-08-011-A
Tax Year
2018
Assessor's Map #
8
Legal Description (Abbrev)
CITRUS HEIGHTS LOT 10 W 71F OF W 133F OF E 297.03 F TH/OF
Assessor's Parcel #
11
Assessor Parcel Ltr
A
Add'l Parcels
Yes
Tax Municipality
Phoenix
Census Tract
108400
Taxes
4386
Legal
CITRUS HEIGHTS LOT 10 W 71F OF W 133F OF E 297.03 F TH/OF
Marketing Name
Re-development opp!

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
133x137
Year Built
1983
Uncvrd Parking Spcs
10
Total # of Units
5
# of Buildings
3
Zoning
R-3
Elementary School District
Madison Elementary District
High School District
Phoenix Union High School District
Elementary School
MacArthur Elementary School
High School
Camelback High School

Remarks Misc

Cross Street
32nd Street and Indian School
Directions
From 32nd Street and Indian School head West on Indian School, North on 27th Street, West on Glenrosa to property on North side.

Status Change Info

Off Market Date
2019-07-16
Under Contract Date
2019-07-01
Close of Escrow Date
2019-07-19

Legal Info

Township
2N
Range
3E
Section
23
Lot Number
10

More Information

2 Bedroom Units

# 2 Bedroom Units
5
Avg Rent
670
Avg SqFt
800
# Baths
Yes

Income Expenses

Gross Annual Sch Inc
40113.96
Net Operating Income
36804

Sold Info

Loan Type
Cash
Payment Type
Other
Closing Cost Split
Normal - N
Buyer Concession $/%
$
Seller Concession $/%
$
Buyer Concession to Seller
0
Seller Concession to Buyer
0

Project Type

5 - 12 Units
Yes

Efficiency Units

Avg Rent
0

1 Bedroom Units

Avg Rent
0

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Other Type

House + Rental Units
Yes

Construction

Block
Yes
Wood Frame
Yes

Const - Finish

Painted
Yes
Brick Veneer
Yes

Roofing

Composition
Yes

Floors

Vinyl
Yes
Wood
Yes
Ceramic Tile
Yes
Carpet
Yes

Sale Includes

Land & Building
Yes

Income & Expenses

Annual Elec Exp
0
Annual Gas Exp
0
Annual Ins Exp
905
Annual Land Lse Exp
0
Annual Landscape Exp
2400
Annual Legal & Acctg
0
Annual Maint Exp
0
Annual Mgmt Exp
2400
Annual Trash Exp
0
Annual Wtr/Swr Exp
3600
Owner Association
No
Annual Ownr Asoc Fee
0
Annual PAD Fee
0
Annual Rplcmnt Rsrvs
0
Annual Other Expense
0
Operating Exp
13691
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
40113.96

Pmt & Rate Info

Cap Rate
5.27
Down Payment
0
Equity
699000
Down Payment %
0
Monthly Payments
0
Total Owed
0
Assessment Balance
0

Showing Notification Methods

Phone Call
Yes

Lockbox Type

None
Yes

Community Features

Other
Yes
See Remarks
Yes

Heating

Electric
Yes

Cooling

Central Air
Yes

Tenant Pays

Electricity
Yes

Appliances Included

Other
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Owner
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

Free
Yes
>1 Space Per Unit
Yes
Paved
Yes
Assigned
Yes

Electric

SRP
Yes

Gas

None
Yes

Owner Pays

Water
Yes
Sewer
Yes
Trash Collection
Yes

New Financing

VA
Yes
Conventional
Yes
FHA
Yes

Existing 1st Loan

Private
Yes

Existing 1st Loan Type

Not Applicable
Yes

Existing 1st Loan Terms

Not Applicable
Yes

Existing 2nd Loan

Treat as Free&Clear
Yes

Existing 2nd Loan Type

Not Applicable
Yes

Existing 2nd Loan Terms

Not Applicable
Yes

Existing 3rd Loan

Treat as Free&Clear
Yes

Existing 3rd Loan Type

Not Applicable
Yes

Reports/Disclosures

None
Yes

Existing 3rd Loan Terms

Not Applicable
Yes

Environmental

None
Yes

Existing Othr Ln Trm

Not Applicable
Yes

Property Features

Project Type: 5 - 12 Units Other Type: House + Rental Units Construction: Block; Wood Frame Const - Finish: Painted; Brick Veneer Roofing: Composition Floors: Vinyl; Wood; Ceramic Tile; Carpet Sale Includes: Land & Building Community Features: Other; See Remarks Appliances Included: Other Cooling: Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: >1 Space Per Unit; Assigned; Free; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity Source of Fincl Data: Owner Showing Notification Methods: Phone Call Lockbox Type: None Existing 1st Loan: Private Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: VA; FHA; Conventional Environmental: None
IDX
Listing Office: NORTH&CO.
Last Updated: August - 07 - 2026
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