17851 N 40TH Street, Phoenix, AZ 85032
$810,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$810,000
List Date:
6/04/2025
Last Modified:
7/28/2025
Description
Turnkey cash-flowing opportunity in the highly desirable Paradise Valley/Phoenix corridor! This well-maintained 4-unit garden-style complex features all 2 bed / 1 bath units with solid tenant demand and upside potential. Grossing $6,500 a month.
Situated in the thriving 85032 ZIP code, close to major freeways, shopping, and the Paradise Valley Mall redevelopment. Whether you're a seasoned investor or new to multifamily, this 8.25% cap rate property delivers immediate returns in one of Phoenix's most active rental markets.
Looking for steady income and long-term appreciation? This is the one.
More Information MLS# 6875080
Contract Info
Current Price: $810,000
Sold Price: $810,000
Status: Closed
List Date: 2025-06-03
Ownership: Fee Simple
Location Tax Legal
House Number: 17851
Compass: N
Street Name: 40TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85032
Zip4: 1758
County Code: Maricopa
Assessor Number: 215-16-063-V
Tax Year: 2024
General Property Description
Lot Size Dimensions: n/a
Year Built: 1981
Uncvrd Parking Spcs: 4
Total # of Units: 4
# of Buildings: 1
Zoning: M-M
Flood Zone: TBD
Elementary School District: Paradise Valley Unified District
High School District: Paradise Valley Unified District
Remarks Misc
Cross Street: 40th St & Union Hills
Geo Lat: 33.649748
Geo Lon: -111.995796
Status Change Info
Off Market Date: 2025-07-02
Under Contract Date: 2025-06-26
Close of Escrow Date: 2025-07-28
Sold Price: $810,000
Legal Info
Township: 4N
Range: 4E
Section: 31
Lot Number: 2
Income Expenses
Gross Annual Sch Inc: 77760
Net Operating Income: 70039
Showing Notification Methods
Showing Service: Aligned Showings
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1620
Avg SqFt: 1000
# Baths: 5
Sold Info
Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession to Buyer: 1500
Seller Concession $/%: $
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Stucco
Roofing: Composition
Floors: Vinyl; Ceramic Tile
Sale Includes: Land & Building
Community Features: Other
Exterior Amenities: Desert Landscaping; Fenced
Appliances Included: Built-In Electric Oven; Built-In Range; Refrigerator; Dishwasher; Disposal; Microwave
Cooling: Ceiling Fan(s); Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: None
Parking Features: Carport; Paved
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity; Other (See Remarks)
Source of Fincl Data: Owner; Accountant
Lockbox Type: None
New Financing: Cash; VA; FHA; Conventional; 1031 Exchange
Environmental: None
Listing Office: eXp Realty
Last Updated: July - 28 - 2025
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