$617,000
Phoenix, AZ 85009
MLS# 5548568
Status: Closed
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Property Description
Great Cash Cow Investment Property! Over 11.50% CAP RATE! Property has two homes in the front on 40th AVE and in the back there is a duplex, triplex and one other detached home. There is also a very large parking lot and play area including a basketball court! Off of 41st AVE there is a very large lot currently being leased to a tow truck company. Property produces a lot of rent with very little hassle. All 9 units are part of a 3 property parcel. So you must purchase all 3 together. All tenants have been long term tenants and there is rarely ever any vacancies. All three lots together equal to a 79,190 SF (1.8 acres). Great cash flow! Over 11.50% CAP Rate!
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $617,000
Sold Price: $617,000
Status: Closed
List Date: 2017-01-18
Location, Tax & Legal
Unit #: FRNT
Assessor's Map #: 4
Legal Description (Abbrev): N 65' OF S 960' OF W2 NE4 SW4 EX E 30' FOR 40TH AVE & EX W 425' .29 AC
Assessor's Parcel #: 25
Assessor Parcel Ltr: A
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 112602
Taxes: 1808
Legal: N 65' OF S 960' OF W2 NE4 SW4 EX E 30' FOR 40TH AVE & EX W 425' .29 AC
Marketing Name: 40th AVE Properties
Map Code/Grid: Q33
House Number: 822
Compass: N
Street Name: 40TH
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85009
Zip4: 4065
County Code: Maricopa
Subdivision: to be provided in escrow
Assessor Number: 106-04-025-A
Tax Year: 2014
General Property Description
# of Buildings: 6
Uncvrd Parking Spcs: 18
Lot Size Dimensions: 130 x 601
Total # of Units: 9
Elementary School District: Isaac Elementary District
High School District: Phoenix Union High School District
Elementary School: Isaac E Imes School
Jr. High School: Isaac Middle School
High School: Carl Hayden High School
Year Built: 1982
Zoning: unk
Legal Info
Range: 2E
Section: 3
Township: 1N
Project Type
5 - 12 Units: 1
Other Type
House + Rental Units: 1
Packaged Offering: 1
Construction
Wood Frame: 1
Const - Finish
Stucco: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Other: 1
Sale Includes
Building(s) Only: 1
Land & Building: 1
Income & Expenses
Annual Elec Exp: 2400
Annual Gas Exp: 0
Annual Ins Exp: 4380
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 1200
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 8400
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 18188
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 81660
Pmt & Rate Info
Cap Rate: 11.54
Down Payment: 0
Equity: 549900
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
Play Area: 1
Heating
Natural Gas: 1
Other: 1
See Remarks: 1
Cooling
Heat Pump: 1
Other: 1
See Remarks: 1
Tenant Pays
Electricity: 1
Appliances Included
Refrigerator: 1
W/D Hookup: 1
Other: 1
Road Access Type
Dedicated Street: 1
Road Surface Type
Dirt: 1
Gravel: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Other: 1
Parking Features
Carport: 1
Free: 1
On Street: 1
1 Space/Unit: 1
Paved: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Conventional: 1
Existing 1st Loan
Other (See Rmks): 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 480-655-7592
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 7
Avg Rent: 600
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
# 4 Bedroom Units: 1
Avg Rent: 880
# Baths: 2
Sold Info
Loan Type: Cash
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: I10 Freeway and 35th AVE
Directions: Exist off of 35th AVE south to Roosevelt, W to 40th AVE, S to property
Geo Lat: 33.457558
Geo Lon: -112.145738
Status Change Info
Off Market Date: 2017-08-31
Under Contract Date: 2017-08-15
Close of Escrow Date: 2017-08-31
Sold Price: $617,000
Income Expenses
Gross Annual Sch Inc: 81660
Net Operating Income: 63472
Property Features
Project Type: 5 - 12 Units
Other Type: House + Rental Units; Packaged Offering
Construction: Wood Frame
Const - Finish: Stucco
Roofing: Composition
Floors: Ceramic Tile; Other
Sale Includes: Building(s) Only; Land & Building
Community Features: Play Area
Appliances Included: Refrigerator; W/D Hookup; Other
Heating: Natural Gas; Other; See Remarks
Cooling: Heat Pump; Other; See Remarks
Water Source: City Franchise
Sewer: Sewer - Public; Other
Electric: SRP
Gas: SW Gas
Parking Features: Carport; On Street; 1 Space/Unit; Free; Paved
Road Access Type: Dedicated Street
Road Surface Type: Gravel; Dirt
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity
Source of Fincl Data: Owner
Existing 1st Loan: Other (See Rmks)
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional
Environmental: None
Listing Office: RE/MAX Solutions
Last Updated: April - 06 - 2026
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