Cass Stephens

Multifamily CRE Broker/Investor in AZ. 33 yrs over 1000s of transactions. CCIM, J.D., & MBA [email protected],602-672-3526

[Cass Stephens @CStephensCCIM]

Sold by Cass! A Party Sewer Tale. https://t.co/Bv2jvBQqvC
3330 N. 18th St. 7 units (all 1 bed units). Closed at $1,399,000 ($199,857/unit or $394/sf). Highest price/sf sold in its space in Q1 for the Phoenix MSA (5-12 units), per MLS/Crexi. Solid cash flow, though master-leased. Are you familiar with a party or conjoined sewer? The sewer line for this complex ties into the neighbors' line, not the street. Then it runs 100+ feet into the E Osborn St main. As well, this complex has all Federal Pacific Electric (FPE) panels, now considered a significant fire hazard. After the 1st investor canceled escrow due to the inspection, I brought my master plumber to the next inspection with the 2nd buyer in escrow. I needed him to show the buyer & buyer broker a path forward that did not require putting in a new sewer line ($100k+). I needed him to show that a "party" sewer was "acceptable," though many investors may not agree. It was a good move. Then getting this financed by a credit union as a "special loan product" was the next hurdle. The appraiser discounted the rents to around $1200/unit (market). But we got it done in the end. My team and me have differentiated with three closings in 2026 that sold for well-over $300/sf, unmatched by the competition.

[Cass Stephens @CStephensCCIM]

Uptown Phoenix 4+ Unit Compound. 746 W Coolidge. 18K sf lot. 6.2 CAP pro forma. $250/sf. $999,000

[Cass Stephens @CStephensCCIM]

Uptown Phoenix 9 unit with attractive seller financing. 7.2 CAP. $1,699,000.

[Cass Stephens @CStephensCCIM]

@moseskagan Direct feedback goes a long way. If they rented a competitor's unit instead of yours, it is imperative to figure out why.

[Cass Stephens @CStephensCCIM]

The only clarity with the FED & interest rates is that there will be will be lots of policy disagreements in the near future.

Inflation is the worst in three years. Kevin Warsh says that’s not the full story | CNN Business https://t.co/EfyB8JdMxd

[Cass Stephens @CStephensCCIM]

Sold! 2324 W Lone Cactus 4plex. $697,000/1031 cash buyer.

[Cass Stephens @CStephensCCIM]

Uptown Phoenix 9 unit with attractive seller financing. 7.2 CAP. $1,699,000.

[Cass Stephens @CStephensCCIM]

Uptown Phoenix 4+ Unit Compound. 746 W Coolidge. 18K sf lot. 6.2 CAP pro forma. $250/sf. $999,000

[Cass Stephens @CStephensCCIM]

Arizona’s new anti-squatter law could be a big win for property owners.

SB 1426 aims to speed up removal of unlawful occupants in qualifying cases — potentially closer to 3 days vs. the roughly 19 days tied to a typical eviction process.

Important: this is not meant to bypass tenant rights. It targets unauthorized occupants, not legitimate tenants.

For landlords and multifamily owners: inspect vacant units, secure access points, document everything, and act quickly.

Read more: https://t.co/eQ0Un06R9f

#AZRealEstate #Multifamily #PhoenixRealEstate #PropertyRights

[Cass Stephens @CStephensCCIM]

The "annoyance economy" in full effect.

Why are US consumers so angry? It’s not just high prices | US economy | The Guardian https://t.co/vlWUmy6XQ8

[Cass Stephens @CStephensCCIM]

@DeerwoodRealty Delinquent rents reported as well so this double-edged.

[Cass Stephens @CStephensCCIM]

Interesting. Could be good and bad.

Change to allow rent payments factor into credit score could help 7.7M Americans qualify for a mortgage https://t.co/nT5rTloBjw

[Cass Stephens @CStephensCCIM]

The more things change, the more they stay the same. 50% of his net worth is swinging for the fences.
https://t.co/sye29snoU5

[Cass Stephens @CStephensCCIM]

"(T)he Office of Management and Budget (OMB) expected the 2026 fiscal year to run at a deficit of $2.06 trillion, higher than estimates from the Congressional Budget Office (CBO)."

Treasury expected to borrow $2 trillion this year—more than $166 billion every month | Fortune https://t.co/JJg9oBlokE

[Cass Stephens @CStephensCCIM]

Stunning number!

"Breaking a Guinness World Records title by completing 12,412 pull-ups in 24 hours.

He started at 10 a.m. Saturday, May 2, and finished at 10 a.m. Sunday

22-year-old Valley man breaks Guinness record for most pull-ups in 24 hours https://t.co/LXxNTUXSry

[Cass Stephens @CStephensCCIM]

Deer Valley-TSMC Phoenix 4plex! 2324 W. Lone Cactus offers more for less. $699,900. Only all 2 bed mix with 2004 construction in this price range. 6+ CAP.

[Cass Stephens @CStephensCCIM]

As the 10-yr T sits close to 4.5%, this seller financing opportunity really differentiates in Phoenix. 9 unit complex. Seller Financing at 6% interest-only with 30% down-can't find that anywhere else. $250k upgrades 4 yrs ago. 7.2 CAP. 100% occupied. Close to 25K lot. Central Phoenix. $1,699,000.

[Cass Stephens @CStephensCCIM]

Now $1,699,000. 7.2 CAP based on 2025 P&L. Attractive seller financing available. Uptown Phoenix 9 unit. 5035 N. 23rd Ave. 25K sq ft lot. Video reflects original price.

[Cass Stephens @CStephensCCIM]

Now $1,699,000. 7.2 CAP based on 2025 P&L. Attractive seller financing available. Uptown Phoenix 9 unit. 5035 N. 23rd Ave. 25K sq ft lot. Video reflects original price.

[Cass Stephens @CStephensCCIM]

4.45% +/- 10-yr T today. Interest-rates trending the wrong way.

TMUBMUSD10Y | U.S. 10 Year Treasury Note Overview | MarketWatch https://t.co/tR6MfJVkkl

[Cass Stephens @CStephensCCIM]

This investigation was a colossal waste of money, time, and resources.

DOJ drops investigation of Fed Chair Powell, lifts hurdle for Warsh https://t.co/eMkZIGt1yn

[Cass Stephens @CStephensCCIM]

@DeerwoodRealty I didn't get too close, but it's not my first snake rodeo, either.

[Cass Stephens @CStephensCCIM]

Ran into a rattler this morning.