AZ > Phoenix > Gentle Acres
Phoenix, AZ 85032,18227 N 40TH Place
Phoenix, AZ 85032,18227 N 40TH Place
Phoenix, AZ 85032,18227 N 40TH Place
Phoenix, AZ 85032,18227 N 40TH Place
Phoenix, AZ 85032,18227 N 40TH Place
Phoenix, AZ 85032,18227 N 40TH Place
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Abraham Real Estate Group

Abraham Real Estate Group

+1(602) 618-0892
$ 859,900
Est. payment | /mo
Save
$ 859,900
Est. payment | /mo
Save

Key Details

Property Type Multi-Family

Listing Status Active Under Contract

Purchase Type For Sale

Subdivision Gentle Acres

MLS Listing ID 6865522

Year Built 1980

Annual Tax Amount $1,796

Tax Year 2024

Lot Dimensions 11975 sf

Source Arizona Regional Multiple Listing Service (ARMLS)

Property Description

Rare offering in a quiet North Central PHX neighborhood. Seller Financing Possible: 30% down/7% int/2 yrs, but only w/ a very strong offer. Highly competitive $215/SF. 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. 5.23 CAP +/-. $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

Arizona Regional MLS (ARMLS)

Copyright 2025 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

Listed by Better Homes & Gardens Real Estate SJ Fowler

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agent
Abraham Real Estate Group

Agent | Lic# SA543330000

+1(602) 618-0892

16155 N 83rd Ave Suite # 140, Peoria, AZ, 85382

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18227 N 40TH Place