Investment Overview
PRICE REDUCED $100,000 — NOW $700,000
2124 W Augusta Avenue presents an opportunity to acquire an extensively renovated, fully occupied triplex in North Phoenix. The property consists of two one-bedroom units and one studio, offering immediate rental income and strong tenant appeal.
The renovation includes quartz countertops, stainless-steel appliances, wood-look tile flooring, dual-pane windows, updated exterior doors, renovated bathrooms, individual washers and dryers, and a smooth-stucco exterior. Select units also include private outdoor space, while two onsite storage rooms provide potential additional income.
The asking price has been reduced by $100,000 (12.5%). The triplex may be purchased separately for $700,000 or acquired with the adjacent fourplex at 2122 W Augusta Avenue, creating a combined seven-unit investment across two separate parcels. Because each property contains four units or fewer, residential financing may be available for each parcel, subject to lender approval.
Investment Highlights
- Fully occupied triplex providing immediate rental income
- Two one-bedroom units and one studio
- Extensively renovated interiors and exterior
- Quartz countertops and stainless-steel appliances
- Individual washers and dryers in every unit
- Dual-pane windows and updated exterior doors
- Private outdoor space for select units
- Two storage rooms with additional-income potential
- Available separately or with the adjacent fourplex
- Potential residential or DSCR financing, subject to lender approval
- The $700,000 offering price applies to 2124 W Augusta Avenue only
Disclaimer: Buyer to verify all facts and figures. All information deemed reliable but not guaranteed.
Virtual Property Tour
Take an interactive virtual tour of 2124 W Augusta Avenue and experience the property’s extensive renovations, modern finishes and functional unit layouts. Explore the updated kitchens and bathrooms, quartz countertops, stainless-steel appliances, wood-look tile flooring, generous storage and private outdoor areas.
The virtual tour provides prospective buyers with a convenient way to examine the property 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
The price was reduced to $700,000 on October 15, 2026. Financial calculations retain the established September website underwriting: scheduled base rents of $3,890 monthly and $46,680 annually, with 3% economic vacancy. Current modeled NOI of $37,479 produces a 5.35% cap rate at the new price. Pro forma assumes $1,700 monthly for each one-bedroom and $1,100 for the studio, producing $44,589 NOI and a 6.37% cap rate. Income and expense assumptions are unchanged; this is not a recast of the latest rent roll or T-12. The $700,000 price applies to the triplex only.
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.
$700,000
Offering Price
$50,769
Current Effective Gross Income
$13,290
Current Operating Expenses
$37,479
Current Net Operating Income
5.35%
Current Cap Rate
Pro Forma Financial Summary
$700,000
Offering Price
$57,879
Pro Forma Effective Gross Income
$13,290
Pro Forma Operating Expenses
$44,589
Pro Forma Net Operating Income
6.37%
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.
- 2124 W Augusta Rent Schedule -October 12-2026
- 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
- Seller Property Disclosure 1-4 Units
- Insurance Loss Run
- Market Condition Advisory
- Lead Based Paint Disclosure
- 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"™
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