18227 N 40TH Place, Phoenix, AZ 85032 – 6865522 - Adam Prather

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Adam Prather

adam@adamprather.com +1(480) 535-6846

$899,000

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Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Subdivision Gentle Acres

MLS Listing ID 6865522

Year Built 1980

Annual Tax Amount $1,796

Tax Year 2024

Lot Dimensions 11975 sf

Source Arizona Regional Multiple Listing Service (ARMLS)

Property Description

Rare offering in a quiet North Central PHX neighborhood. Very hard to find $225/SF. Minutes to 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.

Location

State AZ

County Maricopa

Community Gentle Acres

Zoning R-3

Direction 1/2 mile east of the 51 and just south of Union Hills Dr.

Interior

Heating See Remarks, Individual, Heat Pump, Electric

Cooling Electric, Heat Pump, Individual

Flooring Other, Ceramic Tile, Vinyl

Appliance See Remarks

Exterior

Parking Features Free, Assigned, >1 Space Per Unit

Community Features See Remarks

Roof Type Other,Built-Up

Total Parking Spaces 8

Building

Sewer Public Sewer

Water City Franchise

New Construction No

Schools

School District Paradise Valley Unified District

Others

Senior Community No

Tax ID 215-15-099

Acceptable Financing Other (See Remarks), Conventional

Listing Terms Other (See Remarks), Conventional

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Listed by Better Homes & Gardens Real Estate SJ Fowler

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Adam Prather

+1(480) 535-6846

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Team Lead SA659490000

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18227 N 40TH Place Phoenix, AZ 85032

Adam Prather

Key Details

Location

Interior

Exterior

Building

Schools

Others

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18227 N 40TH Place