- $889k Price
18227 N 40th Place
Rare offering in a quiet North Central PHX neighborhood. Very hard to find $222/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.
Essential Information
- MLS® #6865522
- Price$889,000
- Bathrooms0.00
- Acres0.00
- Year Built1980
- TypeMultiple Dwellings
- StatusActive
Community Information
- Address18227 N 40th Place
- SubdivisionGENTLE ACRES
- CityPhoenix
- CountyMaricopa
- StateAZ
- Zip Code85032
Amenities
- AmenitiesSee Remarks
- Parking Spaces8
Parking
Free, Assigned, >1 Space Per Unit
Interior
- AppliancesSee Remarks
Heating
See Remarks, Individual, Heat Pump, Electric
Cooling
Electric, Heat Pump, Individual
Exterior
- RoofOther, Built-Up
- ConstructionPainted, Slump Block
School Information
District
Paradise Valley Unified District
Additional Information
- ZoningR-3
Listing Details
Office
Better Homes & Gardens Real Estate SJ Fowler
Price Change History for 18227 N 40th Place, Phoenix, AZ (MLS® #6865522)
| Date | Details | Change |
|---|---|---|
| Price Reduced from $899,000 to $889,000 |
Better Homes & Gardens Real Estate SJ Fowler.
Information Deemed Reliable But Not Guaranteed. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. ARMLS Logo indicates that a property listed by a real estate brokerage other than Launch Real Estate LLC. Copyright 2025 Arizona Regional Multiple Listing Service, Inc. All rights reserved.
Listing information last updated on July 2nd, 2025 at 6:30pm MST.