$850,000
$859,900
1.2%For more information regarding the value of a property, please contact us for a free consultation.
18227 N 40TH Place Phoenix, AZ 85032
Key Details
Sold Price $850,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Gentle Acres
MLS Listing ID 6865522
Sold Date 09/19/25
Year Built 1980
Annual Tax Amount $1,796
Tax Year 2024
Lot Dimensions 11975 sf
Source Arizona Regional Multiple Listing Service (ARMLS)
Property Description
This closed with seller financing (25% down, 6.5% interest; with a 10 year amortization/term). Near 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 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. $1500/rent for 2 bedroom is viable. 100% occupied with all month-to-month leases. All long-term tenants. No recent rent increases. Two units had kitchen/bath/lighting/etc upgrades in 2022. Newer HVAC/WH. 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
Private Pool No
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 Owner May Carry, Other (See Remarks), Conventional
Disclosures Seller Prop Disc Stm
Listing Terms Owner May Carry, Other (See Remarks), Conventional
Financing Carryback
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Bought with DPR Realty LLC
