2011 N 51ST Street, Phoenix, AZ 85008
$3,999,000
Property Type:
Multiple Dwellings
Status:
Pending
Current Price:
$3,999,000
Last Modified:
3/11/2026
Overview
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.
Listing Details MLS# 6921463
Location, Tax & Legal
- 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
- 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
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- N/A
- Year Built
- 1979
- Uncvrd Parking Spcs
- 25
- Total # of Units
- 20
- # of Buildings
- 3
- Zoning
- R-3
- Flood Zone
- No
- Elementary School District
- Balsz Elementary District
- High School District
- Phoenix Union High School District
Remarks Misc
- Cross Street
- 51st Street & McDowell
Status Change Info
- Off Market Date
- 2026-03-11
- Under Contract Date
- 2025-11-17
Legal Info
- Township
- 2N
- Range
- 4E
- Section
- 32
- Lot Number
- 12
More Information
Income Expenses
- Gross Annual Sch Inc
- 376680
- Net Operating Income
- 267579.9
Showing Notification Methods
- Showing Service
- No Showing Service Used
- Text
- Yes
- Yes
- Phone Call
- Yes
Efficiency Units
- # Efficiency Units
- Yes
- Avg Rent
- 1009.93
- Avg SqFt
- 350
- # Baths
- Yes
1 Bedroom Units
- # 1 Bedroom Units
- 16
- Avg Rent
- 1420.8
- Avg SqFt
- 700
- # Baths
- Yes
2 Bedroom Units
- # 2 Bedroom Units
- 2
- Avg Rent
- 1575
- Avg SqFt
- 855
- # Baths
- Yes
3 Bedrooms Units
- # 3 Bedroom Units
- Yes
- Avg Rent
- 2283.75
- Avg SqFt
- 1650
- # Baths
- 2
Project Type
- 13 - 24 Units
- Yes
Construction
- Block
- Yes
Const - Finish
- Painted
- Yes
- Other (See Remarks)
- Yes
Roofing
- Composition
- Yes
Floors
- Ceramic Tile
- Yes
Sale Includes
- Building(s) Only
- Yes
- Land & Building
- Yes
- Pool Equipment
- Yes
- Laundry Equipment
- Yes
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
Lockbox Type
- None
- Yes
Community Features
- Pool
- Yes
- Barbecue
- Yes
Heating
- Ceiling
- Yes
- Heat Pump
- Yes
- Electric
- Yes
- Individual
- Yes
Cooling
- Ceiling Fan(s)
- Yes
- Central Air
- Yes
- Electric
- Yes
- Individual
- Yes
Exterior Amenities
- Landscape Water System
- Yes
- Desert Landscaping
- Yes
- Fenced
- Yes
- Partially Fenced
- Yes
- Separate Storage
- Yes
Interior Features
- Unfurnished
- Yes
- Fire/Smoke Alarm(s)
- Yes
Tenant Pays
- Electricity
- Yes
Appliances Included
- Built-In Electric Oven
- Yes
- Dishwasher
- Yes
- Disposal
- Yes
- Free-Standing Electric Oven
- Yes
- Refrigerator
- Yes
- Built-In Range
- Yes
- Washer/Dryer
- Yes
Road Access Type
- Dedicated Street
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Owner
- Yes
- Projected Proforma
- Yes
Water Source
- City Franchise
- Yes
Sewer
- Sewer - Public
- Yes
- Sewer-In & Connected
- Yes
Parking Features
- Garage
- Yes
- Free
- Yes
- On Street
- Yes
- >1 Space Per Unit
- Yes
- Paved
- Yes
Electric
- SRP
- Yes
Gas
- None
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Trash Collection
- Yes
- Landscaping
- Yes
- Pool Maintenance
- Yes
New Financing
- Cash
- Yes
- Conventional
- Yes
- No Carry
- Yes
- 1031 Exchange
- Yes
Reports/Disclosures
- None
- Yes
Environmental
- None
- Yes
4 Bedrooms Units
- Avg Rent
- 0
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: March - 11 - 2026
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