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
Country: US
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
Email: 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