Investment Overview
Acquire seven renovated, fully occupied residences across two adjacent parcels at 2122 and 2124 W Augusta Avenue. PRICE REDUCED: now offered together for $1,600,000 — a $200,000 reduction (11.11%), the portfolio combines a fourplex and triplex with six one-bedroom units and one studio.
Using the established September 2026 website underwriting, current modeled NOI remains $97,936 and produces a 6.12% cap rate at the new $1,600,000 price. Illustrative pro forma NOI remains $116,093, producing a 7.26% cap rate. These calculations retain the established $9,741 monthly base-rent assumption, ancillary income, vacancy and expenses; they are not a recast of the latest rent roll or T-12.
- Seven occupied residences across two fee-simple parcels
- Quartz countertops, tile backsplashes and stainless appliances
- Updated bathrooms and wood-grain tile flooring
- Individual washer and dryer in every residence
- Roof, window, door, electrical, plumbing and exterior improvements
- Landscaping, pavers, irrigation and fencing improvements
- Fourplex and triplex also available individually
Separate parcels may provide residential financing flexibility, subject to lender qualification and approval. Buyer to verify current tenancy, income, expenses, improvements and all property information. Please do not disturb residents.
Virtual Property Tour
If you‘re interested in exploring the features of this property without leaving the comfort of your home, I highly recommend checking out the virtual tour. By clicking on the link provided, you’ll have the opportunity to experience a 360-degree view of the property, giving you a more immersive and interactive perspective. So why not take advantage of this convenient and innovative tool and discover what this property has to offer?
Location & Market Overview
The property is positioned near the 21st Avenue and Northern Avenue corridor in North Central Phoenix, with access to Interstate 17, employment destinations, shopping, dining and neighborhood services.
Nearby transportation and recreation include Valley Metro light rail, Rose Mofford Sports Complex and the North Mountain recreation area. Buyers should independently verify routes, travel times and local amenities.
Current Financial Summary
The $1,600,000 price and cap rates were updated October 15, 2026. Income and expense assumptions remain those of the established September 2026 website underwriting: $9,741 monthly base rent and $116,892 annually across seven residences, with 3% economic vacancy deducted from scheduled rent. Pro forma assumes $1,700 monthly for six one-bedroom units and $1,100 for the studio. The updated offering memorandum uses these same assumptions. These figures are not a recast of the latest rent roll or T-12.
Pro forma figures are illustrative assumptions and are not guaranteed. Buyers should independently verify income, leases, occupancy, expenses and projections. Debt service and capital costs are excluded from NOI.
$1,600,000
Offering Price
$126,190
Current Effective Gross Income
$28,254
Current Operating Expenses
$97,936
Current Net Operating Income
6.12%
Current Cap Rate
Pro Forma Financial Summary
$1,600,000
Offering Price
$144,347
Pro Forma Effective Gross Income
$28,254
Pro Forma Operating Expenses
$116,093
Pro Forma Net Operating Income
7.26%
Pro Forma Cap Rate
Offering Memorandum & Property Flyer
Review the offering memorandum and one-page flyer for the property overview, current and pro forma financial analysis, rent assumptions, photographs and investment details. Select a document below to view or download the PDF.
Property Documents & Due Diligence
Review the available property, operating and disclosure documents below. Dates are retained so buyers can identify historical records and request current information during due diligence.
Tenant leases will be provided only after the property is under contract to protect tenant privacy.
- 2122-2124 W Augusta Rent Schedule – October 10, 2026
- Combined T-12 Operating Statement – May 2025-April 2026
- P and L 2024
- List of Improvements
- Floor Plans and Appraiser Measurements
- Platt Map
- Schedule of Personal Property
- Seller Property Disclosure
- Insurance Loss Run
- Market Condition Advisory
- Lead Based Paint Disclosure
Browse the property photographs for a closer look at the residences, interiors, exterior improvements and outdoor areas. Select a photograph to enlarge it. The property is tenant occupied; please do not disturb residents. Contact Linda Gerchick, CCIM, at 602-688-9279 to arrange a property tour.
Commercial Real Estate Investor Education
Linda Gerchick’s Practical Guide to Commercial Real Estate
Learn directly from Linda Gerchick, CCIM, through a comprehensive, 9.5-hour video course designed for commercial real estate investors. The course covers property acquisition, commercial financing, property management, ownership entities, income analysis, rent rolls, escrow, due diligence, assembling the right real estate team and much more. Purchase the complete course and stream it anytime on your computer, television or mobile device.
Queen of Fourplexes: Outrageous, Hilarious Stories of Real Estate
Explore Linda Gerchick’s entertaining collection of true real estate stories and practical lessons gathered throughout her more than 30 years in the business.
Practical Guide to Commercial Real Estate
A straightforward resource for investors seeking to better understand commercial real estate opportunities, terminology, property analysis and investment decision-making.
