2923 N 38th St - Apartments FOR SALE


Phoenix, AZ 85018- East Phoenix
$950,000 USD
505-980-3726
2923 N 38th St, Phoenix, AZ for Sale
$950,000 USD
Apartments - FOR SALE
1/9
null | Request Cap Rate

2923 N 38th St
Phoenix, AZ 85018
East Phoenix


HIGHLIGHTS

  • Fully renovated fourplex with modern interiors and refreshed exterior enhancements in a highly desirable Arcadia-area neighborhood.
  • Strong in-place rents supported by high-income demographics and consistent demand for updated small multifamily assets.
  • Walkable neighborhood environment with dining, retail, healthcare, and recreation minutes away.
  • Turnkey condition reduces near-term capital needs and supports long-term tenant retention.
  • Flexible residential financing options available for qualified buyers seeking 1–4-unit loan programs.

OVERVIEW

2923 North 38th Street is a fully renovated fourplex located in the coveted 85018 zip code, just minutes from Arcadia Lite and the Camelback Corridor. The property offers investors a rare opportunity to acquire a pride-of-ownership small multifamily asset in one of Phoenix’s most desirable infill locations. This turn-key asset features modern upgrades throughout, offering premium finishes, in-unit laundry, and strong curb appeal. This drives top-tier rental demand and long-term tenant retention. Exterior enhancements have elevated the overall aesthetic while reducing future maintenance obligations by providing updated paint and facade improvements, mature landscaping, walkable blocks, and a strong sense of neighborhood identity. The result is a clean, cohesive asset that blends modern finishes with the character of the Arcadia-area setting. Strong in-place rents provide immediate cash flow to new ownership which also benefits from flexible residential financing options, allowing qualified buyers to access conventional 1–4-unit loan programs rather than commercial debt- an attractive feature for both investors and owner-occupants. Situated in the heart of the Arcadia submarket with convenient access to major employment hubs, trendy shopping, and entertainment.

FOR SALE DETAILS

PRICE

$950,000 USD

PRICE/SF

$317 USD /SF

# OF UNITS

4

PRICE/UNIT

$237,500

CAP RATE

Request Cap Rate

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Citrus Acres

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

M-H

APN/PARCEL ID

127-21-009C

ASK ABOUT THIS PROPERTY

Cody LeslieORION Investment Real EstateMore Info
505-980-3726

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Cody LeslieORION Investment Real EstateMore Info
505-980-3726

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.