1845 E Illini Street, Phoenix, AZ 85040

Phoenix
Local realty services provided by:Better Homes and Gardens Real Estate S.J. Fowler
1845 E Illini Street,Phoenix, AZ 85040
$499,900
  • 5 Beds
  • 3 Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: dean selvey
Office: re/max excalibur
MLS#:7040008
Source:ARMLS

Price summary

  • Price:$499,900

About this home

Outstanding investment opportunity! Built in 2024 and located in a designated Opportunity Zone, this fully leased duplex offers immediate cash flow with approximately $34,000 in annual income and an attractive 7% CAP rate. Quality workforce housing with dependable tenants who pay on time and cover their own electric; landlord pays only water and sewer. Also available is the adjacent duplex at 1905 E. Illini, creating a rare opportunity to acquire a side-by-side 4-plex. Each unit features wood-look tile flooring, Samsung appliances, 42'' espresso cabinetry, 2'' wood blinds, and contemporary finishes throughout. Ample parking, low-maintenance construction, and excellent condition make this a true turnkey investment.

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Home facts

  • Year built:2025
  • Subdivision & Development:PROGRESS PLACE
  • Listing ID #:7040008
  • Updated:August 13, 2026 at 03:07 PM

Rooms and interior

  • Bedrooms:5
  • Total bathrooms:3
  • Flooring:Carpet, Tile

Heating and cooling

  • Cooling:Ceiling Fan(s), Heat Pump, Individual Cooling
  • Heating:Electric
  • Central air:Yes

Structure and exterior

  • Year built:2025
  • Construction Materials:Stucco

Schools

  • High school:South Mountain High School
  • Middle school:Percy L Julian School
  • Elementary school:Percy L Julian School

Utilities

  • Water:City Franchise

Finances and disclosures

  • Price:$499,900
  • Tax amount:$4,228 (2026)

Parking

  • Total parking spaces:4
  • Parking description:Additional Parking Available, Carport, More Than 1 Parking Space/Unit
MLS LogoAll information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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