Cambridge & McKinley — Sale in Phoenix, AZ

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Phoenix, AZ 85006

Photos

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Investment Figures

Cap rate
4.78%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Cambridge & McKinley presents a compelling boutique value-add opportunity, combining favorable asset fundamentals with a highly connected Central Phoenix location. The four unit community features an attractive average unit size of approximately 886 square feet, providing spacious floorplans and a strong foundation for a comprehensive renovation program. With an average vintage of 1995, the property benefits from newer construction relative to much of the surrounding small multifamily inventory, while offering significant upside through interior and exterior improvements, modernization, and rental growth. Beyond the existing improvements, the low-density McKinley site provides an additional avenue for long-term value creation through the potential development of additional units. Subject to zoning, site planning, and municipal approvals, the underutilized land may provide an opportunity to increase unit count and maximize the productivity of the existing site. The property is strategically positioned near several of Metro Phoenix’s most significant employment and economic drivers, including the Innovation Corridor, Phoenix Sky Harbor International Airport, and Phoenix Children’s Hospital, with convenient freeway access providing connectivity throughout the Valley. Together, the property’s boutique scale, large unit profiles, value-add potential, and future development optionality create multiple pathways to enhance returns and long-term value. Investment Highlights: • Two-Property Value-Add Portfolio with Large Floorplans and Newer Vintage Offering Immediate Access to Powerful Employment Corridors and Sky Harbor Airport • McKinley | Low-density configuration offers the potential for adding additional units. • Available individually and as a portfolio.

Market Context

This multifamily in Phoenix, AZ is listed for sale. It is offered at an approximate 4.8% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Phoenix, AZ — view the full market.

As of Q1 2026, the Phoenix multifamily market showed a 12.1% vacancy rate, average asking rents near $1561.50/unit/mo, rents up 2.9% year over year, and cap rates around 5.9%. Source: multiple brokerage reports, Q1 2026.

Its 4.8% asking cap rate is below the Phoenix multifamily market average of about 5.9%, reflecting premium pricing relative to comparable assets. Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in Phoenix?
About 5.9% as of Q1 2026, per multiple brokerage reports.
Is the Phoenix multifamily market tightening or softening?
Vacancy is around 12.1%, with asking rents rising year over year (Q1 2026).

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