3139 N 40TH Street, Phoenix, AZ 85018
$2,649,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$2,649,000
Last Modified:
6/17/2025
Description
On nearly a half-acre in Arcadia Lite, this property has a 3 bed & 2 bath single family house and a four plex. Each unit of the four plex is a full 1 bed & 1 bath with private backyard areas. This property is the perfect opportunity for a long-term rental, short-term rental, sober living, residential assisted living, etc! Full cosmetic remodel completed in 2022, this property is an investors dream. The property is equipped with a pool which is closed off to only the main house, putt-putt golf, and bocce ball. Block walls around the perimeter of the house give full privacy. Property had a 2 year tenant paying $24K/mo and averaged $28K/mo in January, February and March of 2025. The property has great value-add opportunity if additional units were placed on the property.
More Information MLS# 6874576
Contract Info
Current Price: $2,649,000
List Price: $2,649,000
Status: Active
List Date: 2025-05-29
Ownership: Fee Simple
Location Tax Legal
House Number: 3139
Compass: N
Street Name: 40TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Zip4: 6472
County Code: Maricopa
Subdivision: PALO ALTO PARK
Assessor Number: 127-15-048
Tax Year: 2024
General Property Description
Lot Size Dimensions: 165x15
Year Built: 1955
Uncvrd Parking Spcs: 11
Total # of Units: 5
# of Buildings: 2
Zoning: R-3
Elementary School District: Scottsdale Unified District
High School District: Scottsdale Unified District
Elementary School: Tavan Elementary School
Jr. High School: Ingleside Middle School
High School: Arcadia High School
Remarks Misc
Geo Lat: 33.486078
Geo Lon: -111.995095
Legal Info
Township: 2N
Range: 4E
Section: 30
Lot Number: 10
Income Expenses
Gross Annual Sch Inc: 228000
Net Operating Income: 132000
Showing Notification Methods
Showing Service: Aligned Showings
1 Bedroom Units
# 1 Bedroom Units: 4
Avg Rent: 2500
Avg SqFt: 680
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 7000
Avg SqFt: 1748
# Baths: 2
Property Features
Project Type: 5 - 12 Units
Construction: Block; Adobe
Const - Finish: Painted; Brick Veneer
Roofing: Composition; Tile; Foam
Floors: Vinyl
Sale Includes: Land & Building
Community Features: Pool; Heated Pool(s); Play Area; Other; See Remarks
Exterior Amenities: Landscape Wtr System; Green Landscaping; Fenced; Patio/Balcony
Interior Amenities: Fire/Smoke Alarm(s)
Appliances Included: Free-Standing Electric Oven; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer; W/D Hookup
Heating: Natural Gas
Cooling: Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: <1 Space Per Unit
Owner Pays: Landscaping
Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Cable TV; Pool Maintenance
Source of Fincl Data: Owner; Projected Proforma; Books Shwn Accpt Ofr
Special: Owner/Agent
Showing Notification Methods: Text; Email
Lockbox Type: See Private Remarks
Existing 1st Loan: Conventional
Existing 1st Ln Type: Fixed
Existing 1st Ln Trms: Non Assumable
New Financing: Cash; Conventional
Environmental: None
Listing Office: Gentry Real Estate
Last Updated: June - 17 - 2025
Broker Attribution:
480.703.5914
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