2011 N 51ST Street, Phoenix, AZ 85008
$3,999,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$3,999,000
Last Modified:
10/01/2025
Description
Tropicana Apartments is a well-positioned, mostly renovated 20-unit multifamily community in the desirable Papago submarket of Metro Phoenix. Built in 1979 on 1.31 acres, the property offers 14,960 square feet of rentable space with a mix of floor plans averaging 748 square feet. Since 2020, the property has benefited from more than $420,000 in capital improvements, including pool refinishing, upgraded landscaping, new appliances, cabinetry, countertops, entry gate enhancements, and the installation of 15 new HVAC units, among other updates.
More Information MLS# 6921463
Contract Info
Ownership: Fee Simple
Current Price: $3,999,000
List Price: $3,999,000
Status: Active
List Date: 2025-09-04
Location, Tax & Legal
Assessor's Map #: 21
Legal Description (Abbrev): ORANGEDALE TR PT LOT 12 BEG 175.83' S OF NE COR W 175.91' TO PT BEG W 456.29' WH IS 15' E FR &
Assessor's Parcel #: 11
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 111201
Taxes: 8436
Legal: ORANGEDALE TR PT LOT 12 BEG 175.83' S OF NE COR W 175.91' TO PT BEG W 456.29' WH IS 15' E FR &
Marketing Name: Tropicana Apartments
House Number: 2011
Compass: N
Street Name: 51ST
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85008
Zip4: 4238
County Code: Maricopa
Subdivision: ORANGEDALE TRACT 1,2, & 7,8
Assessor Number: 126-21-011
Tax Year: 2024
General Property Description
# of Buildings: 3
Uncvrd Parking Spcs: 25
Lot Size Dimensions: N/A
Flood Zone: No
Total # of Units: 20
Elementary School District: Balsz Elementary District
High School District: Phoenix Union High School District
Year Built: 1979
Zoning: R-3
Legal Info
Range: 4E
Section: 32
Township: 2N
Lot Number: 12
Project Type
13 - 24 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Other (See Remarks): 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Sale Includes
Building(s) Only: 1
Land & Building: 1
Pool Equipment: 1
Laundry Equipment: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 8436
Other Income: 28178.63
Vacancy Allowance: 0.06
Adjusted Gross Inc: 380567.11
Pmt & Rate Info
Cap Rate: 6.69
Equity: 3999000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Text: 1
Email: 1
Phone Call: 1
Lockbox Type
None: 1
Community Features
Pool: 1
Barbecue: 1
Heating
Ceiling: 1
Heat Pump: 1
Electric: 1
Individual: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Electric: 1
Individual: 1
Exterior Amenities
Landscape Water System: 1
Desert Landscaping: 1
Fenced: 1
Partially Fenced: 1
Separate Storage: 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Tenant Pays
Electricity: 1
Appliances Included
Built-In Electric Oven: 1
Dishwasher: 1
Disposal: 1
Free-Standing Electric Oven: 1
Refrigerator: 1
Built-In Range: 1
Washer/Dryer: 1
Road Access Type
Dedicated Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Sewer-In & Connected: 1
Parking Features
Garage: 1
Free: 1
On Street: 1
>1 Space Per Unit: 1
Paved: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
Pool Maintenance: 1
New Financing
Cash: 1
Conventional: 1
No Carry: 1
1031 Exchange: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
# Efficiency Units: 1
Avg Rent: 1009.93
Avg SqFt: 350
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 16
Avg Rent: 1420.8
Avg SqFt: 700
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1575
Avg SqFt: 855
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 2283.75
Avg SqFt: 1650
# Baths: 2
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: 51st Street & McDowell
Geo Lat: 33.469698
Geo Lon: -111.971136
Income Expenses
Gross Annual Sch Inc: 376680
Net Operating Income: 267579.9
Property Features
Project Type: 13 - 24 Units
Construction: Block
Const - Finish: Painted; Other (See Remarks)
Roofing: Composition
Floors: Ceramic Tile
Sale Includes: Building(s) Only; Land & Building; Pool Equipment; Laundry Equipment
Community Features: Pool; Barbecue
Exterior Amenities: Landscape Water System; Desert Landscaping; Fenced; Partially Fenced; Separate Storage
Interior Features: Unfurnished; Fire/Smoke Alarm(s)
Appliances Included: Built-In Electric Oven; Free-Standing Electric Oven; Built-In Range; Refrigerator; Dishwasher; Disposal; Washer/Dryer
Heating: Ceiling; Individual; Heat Pump
Cooling: Ceiling Fan(s); Electric; Individual; Central Air
Water Source: City Franchise
Sewer: Sewer - Public; Sewer-In & Connected
Electric: SRP
Gas: None
Parking Features: Garage; On Street; >1 Space Per Unit; Free; Paved
Road Access Type: Dedicated Street
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping; Pool Maintenance
Tenant Pays: Electricity
Source of Fincl Data: Owner; Projected Proforma
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
New Financing: Cash; Conventional; No Carry; 1031 Exchange
Environmental: None
Listing Office:
Orion Investment Real Estate
Last Updated: October - 01 - 2025
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