Investment Overview
Turnkey North Central Phoenix Fourplex with Immediate Income
2122 W Augusta Avenue offers investors a fully occupied, extensively renovated fourplex in North Central Phoenix. The property contains four one-bedroom, one-bathroom residences of approximately 580 square feet each, providing a consistent and desirable unit mix.
The comprehensive renovation introduced quartz countertops, stainless-steel appliances, wood-look tile flooring, updated bathrooms, dual-pane windows, individual washers and dryers, and a smooth-stucco exterior. Thoughtful improvements and modern finishes enhance tenant appeal while reducing the need for immediate capital expenditures.
The fourplex is offered separately for $900,000 or may be purchased with the adjacent triplex at 2124 W Augusta Avenue, creating a seven-unit investment across two parcels. Separate ownership of the parcels may provide buyers with residential financing flexibility, subject to lender approval.
Investment Highlights
- Fully occupied fourplex with immediate rental income
- Four one-bedroom, one-bathroom units
- Approximately 580 square feet per unit
- Extensively renovated interiors and exterior
- Quartz countertops and stainless-steel appliances
- Individual washers and dryers
- Dual-pane windows and updated finishes
- Attractive, consistent unit mix
- Available separately or with the adjacent triplex
- Seven-unit combined acquisition opportunity
- Potential residential or DSCR financing, subject to lender approval
- The $900,000 offering price applies to 2122 W Augusta Avenue only
📌 Buyer to verify all facts and figures. No detail has been spared in making this property a premier income-producing asset.
Virtual Property Tour
Take an interactive virtual tour of 2122 W Augusta Avenue and explore the property’s four renovated one-bedroom residences. View the modern kitchens, quartz countertops, stainless-steel appliances, updated bathrooms, wood-look tile flooring, individual laundry facilities and functional living spaces.
The virtual tour provides prospective buyers with a convenient way to evaluate the property’s condition, finishes and layout before scheduling an in-person visit.
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
Figures match the September 2026 offering memorandum. Reported unchanged rents total $5,851 monthly and $70,212 annually. Underwriting deducts 3% economic vacancy from scheduled rent. Pro forma assumes $1,700 monthly per unit. The $900,000 price applies to the fourplex only; the adjacent triplex is available separately.
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.
$900,000
Offering Price
$75,422
Current Effective Gross Income
$14,964
Current Operating Expenses
$60,458
Current Net Operating Income
6.72%
Current Cap Rate
Pro Forma Financial Summary
$900,000
Offering Price
$86,468
Pro Forma Effective Gross Income
$14,964
Pro Forma Operating Expenses
$71,504
Pro Forma Net Operating Income
7.94%
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 W Augusta Rent Schedule – October 2026 Rent Roll
- 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
- Seller Property Disclosure 1-4 Units
- Insurance Loss Run
- Market Condition Advisory
- Addendum to the Residential Purchase Contract 1-4
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.
"Make the Market WORK For You"™
2122–2124 W Augusta Avenue | PRICE REDUCED | 7 Units | $1,600,000