18227 N 40th Place, Phoenix, AZ 85032
View property features, location on map, relevant school information and overview from seller's agent.
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Overview
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
Full feature list
Basic info
- Property type
- Multi-family
- Year built
- 1980
Utilities
- Heating
- See remarks, Heat pump, Electric
- Cooling
- Central air, Electric, Heat pump
- Sewer
- Public sewer
- Water
- Public
Taxes
- Tax Annual Amount (2024)
- $1,796
Public schools
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Sourced from: Arizona Regional Multiple Listing Service (ARMLS) MLS®#: 6865522 Last checked: …
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