3139 N 40th St - Apartments FOR SALE


Phoenix, AZ 85018- East Phoenix
$2,649,000 USD
480-703-5914
3139 N 40th St, Phoenix, AZ for Sale
$2,649,000 USD
Apartments - FOR SALE
1/110
null | 9.44% Cap Rate

3139 N 40th St
Phoenix, AZ 85018
East Phoenix


HIGHLIGHTS

  • Property had a 2-year tenant paying $24K/mo and averaged $28K/mo in January, February and March of 2025.
  • On nearly a half-acre in Arcadia Lite, this property has a 3 bed & 2 bath single family house and a four plex.

OVERVIEW

On nearly a half-acre in Arcadia Lite, this property has a 3 bed & 2 bath single family house and a four plex. Each unit of the four plex is a full 1 bed & 1 bath with private backyard areas. This property is the perfect opportunity for a long-term rental, short-term rental, sober living, residential assisted living, etc! Full cosmetic remodel completed in 2022, this property is an investors dream. The property is equipped with a pool which is closed off to only the main house, putt-putt golf, and bocce ball. Block walls around the perimeter of the house give full privacy. Property had a 2 year tenant paying $24K/mo and averaged $28K/mo in January, February and March of 2025. The property has great value-add opportunity if additional units were placed on the property.

FOR SALE DETAILS

PRICE

$2,649,000 USD

PRICE/SF

$633 USD /SF

# OF UNITS

5

PRICE/UNIT

$529,800

CAP RATE

9.44%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1955

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,731 SF

ZONING

R1-6

APN/PARCEL ID

127-15-048

ASK ABOUT THIS PROPERTY

Bryant AplassGreen Elephant Development LLCMore Info
480-703-5914

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Bryant AplassGreen Elephant Development LLCMore Info
480-703-5914

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