Investment Overview
Offered at $795,000 | Three occupied residences
FULLY OCCUPIED NORTH PHOENIX TRIPLEX
316–322 E Vogel Ave presents a fully occupied, fee-simple triplex offering immediate income, a diversified unit mix and more than $19,000 in seller-reported recent improvements. The property consists of two spacious three-bedroom residences and a private one-bedroom casita situated across three separate residential buildings.
This distinctive layout provides residents with greater privacy and a more home-like living experience than a traditional apartment property. Each residence offers individual laundry facilities, while the property also features a shared outdoor BBQ and gathering area, mature landscaping and multiple storage structures.
With 100% occupancy, an established income stream and a desirable North Phoenix location, the property offers investors immediate operations together with future rental and ancillary-income potential.
Property Highlights
- 100% occupied with immediate income
- Two three-bedroom residences plus one private casita
- Three separate residential buildings
- Approximately 3,691 square feet of building area
- Approximately 13,375 square feet of land
- R-3 multifamily residential zoning
- Individual laundry facilities
- Shared outdoor BBQ and resident gathering area
- Multiple storage structures with potential additional utility or income
- More than $19,000 in seller-reported recent improvements
- Convenient access to healthcare, recreation and major Phoenix employment corridors
Buyer to independently verify all leases, rents, income, expenses, improvements, permits, storage uses, property condition and other facts and figures.
Virtual Property Tour
Tour the two three-bedroom residences, private casita and shared outdoor areas from anywhere. The 360-degree virtual tour provides an interactive look at the property’s upgraded interiors, individual living spaces, common BBQ area and distinctive three-building layout.
Location & Market Overview
WELL-POSITIONED IN NORTH CENTRAL PHOENIX
316–322 E Vogel Ave is located in Phoenix’s established Sunnyslope area, providing convenient access to major employment centers, healthcare facilities, shopping, recreation and transportation corridors.
HonorHealth John C. Lincoln Medical Center is nearby, supporting substantial healthcare employment and continued rental demand. Sunnyslope Park and Community Center offer recreational amenities, while North Mountain Park provides hiking, outdoor activities and scenic desert surroundings.
The property’s location near Central Avenue, 7th Street, Northern Avenue, State Route 51 and Interstate 17 allows residents to reach Downtown Phoenix, the Camelback Corridor and other major employment areas throughout the Valley.
Location Highlights
- Near HonorHealth John C. Lincoln Medical Center
- Close to Sunnyslope Park and Community Center
- Convenient access to North Mountain Park
- Near shopping, restaurants and everyday services
- Easy access to Central Avenue and 7th Street
- Connectivity to State Route 51 and Interstate 17
- Accessible to Downtown Phoenix and the Camelback Corridor
- Established residential neighborhood with a diverse rental base
Current Financial Summary
The October rent roll, using data as of October 6, 2026, reports 100% occupancy, with $4,745 monthly base rent plus $250 in utility and pet fees. It reports $4,745 in rent collected and a separate $3,145 outstanding balance for Unit B. Payment of that balance is not confirmed; fee collections are not separately reported. The displayed annual figures are scheduled-income models, not a statement that all outstanding balances have been paid. Pro forma raises each three-bedroom residence to $2,500 monthly and holds the casita and other income unchanged. No vacancy allowance is deducted in either displayed case.
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. Price reduced to $795,000. The 2026 full-year property tax is $3,258.50 for APN 159-45-070, verified with the Maricopa County Treasurer on September 18, 2026. Total annual operating expenses are $14,829.50. Current NOI is $45,110.50 (5.67% cap); pro forma NOI is $55,970.50 (7.04% cap).
$795,000
Offering Price
$59,940
Current Annual Income
$14,829.50
Current Operating Expenses
$45,110.50
Current Net Operating Income
5.67%
Current Cap Rate
Pro Forma Financial Summary
$795,000
Offering Price
$70,800
Pro Forma Annual Income
$14,829.50
Pro Forma Operating Expenses
$55,970.50
Pro Forma Net Operating Income
7.04%
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.
- 316-322 E Vogel Ave – 2025 General Ledger
- 316-322 E Vogel Ave – October Rent Roll; Data as of October 6, 2026
- 316-322 E Vogel Ave – General Ledger, January 1–September 30, 2026 (Accrual)
- 316-322 E Vogel Ave – Three-Bedroom Rental Comparables
- 316-322 E Vogel Ave – Casita Rental Comparables
- 316-322 E Vogel Ave – Capital Improvements Summary
- 316-322 E Vogel Ave – Floor Plans and Appraiser Measurements
- 316-322 E Vogel Ave – Plat Map
- 316-322 E Vogel Ave – Personal Property Schedule
- 316-322 E Vogel Ave – Seller Property Disclosure Statement
- 316-322 E Vogel Ave – Residential Seller Property Disclosure – 1-4 Units
- 316-322 E Vogel Ave – Schedule A to the Purchase and Sale Agreement
- 316-322 E Vogel Ave – Insurance Loss Run
- 316-322 E Vogel Ave – Market Conditions Advisory
- 316-322 E Vogel Ave – Lead-Based Paint Disclosure
- 316-322 E Vogel Ave – Residential Purchase Contract Addendum – 1-4 Units
- 316-322 E Vogel-Wire Fraud Disclosure
- 316-322 E Vogel-Federal Fair Housing 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
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Queen of Fourplexes: Outrageous, Hilarious Stories of Real Estate
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Practical Guide to Commercial Real Estate
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