18227 N 40th Place, Phoenix, AZ 85032
Local realty services provided by:Better Homes and Gardens Real Estate S.J. Fowler
18227 N 40th Place,Phoenix, AZ 85032
$889,000
- - Beds
- - Baths
- - sq. ft.
- Multi-family
- Active
Listed by:
Cass Stephens(602) 672 - 3526Better Homes and Gardens Real Estate S.J. Fowler
MLS#:6865522
Source:ARMLS
Price summary
- Price:$889,000
About this home
Rare offering in a quiet North Central PHX neighborhood. Very hard to find $222/SF. Near Paradise Valley Village, Desert Ridge & Scottsdale. No HOA. Huge units! Three 2 bed/1 bath units (950 sf /-) paired with a 3 bed/2 bath unit (1150 sf /-). 4000 total sf. 11,975 sf lot. R-3 zoning. 20 year local owner has self-managed. Rents are very low at $1000/$850/$850 (2 bed units) & $1450 (3 bed unit). $49,800/yr +$1200 seller-owned w/d units/late/pet/misc = $51,000 gross/yr. 5+ CAP. $1500/unit or more rents are viable. 100% occupied with all month-to-month leases. All long-term tenants with no recent rent increases. This complex has great bones with some upgrades. Two units had kitchen/bath/lighting/painting upgrades in 2022. Newer HVAC/WH in 1 unit. Value-add opportunity.
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Home facts
- Year built:1980
- Listing Id #:6865522
- Updated:July 25, 2025 at 02:56 PM
Heating and cooling
- Cooling:Electric, Heat Pump, Individual Cooling
- Heating:Electric, Heat Pump, Individual Heating
Structure and exterior
- Year built:1980
Utilities
- Water:City Franchise
Finances and disclosures
- Price:$889,000
- Tax amount:$1,796 (2024)
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