$1,995,624
Phoenix, AZ 85018
MLS# 6974495
1 / 11
Property Description
Rare 7-Unit Investment Opportunity in Prime East Phoenix. Fully occupied and located near 40th St & Thomas Rd in the desirable Citrus Acres / Arcadia-adjacent area. This up-and-coming corridor is surrounded by new construction, redevelopment, popular restaurants, shopping, and easy access to Arcadia, Biltmore, and major freeways. The property features clean, well-maintained, low-maintenance units with strong in-place income and future upside. Excellent long-term hold with value-add potential, including possible expansion or redevelopment of the lot (buyer to verify zoning). A solid, income-producing asset in one of Phoenix's most dynamic growth areas. This listing is part of a 21-unit package.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $1,995,624
List Price: $1,995,624
Status: Active
List Date: 2026-01-25
Location, Tax & Legal
Assessor's Map #: 22
Assessor's Parcel #: 19
Assessor Parcel Ltr: A
Add'l Parcels: Yes
Tax Municipality: Phoenix
Taxes: 2210
Legal: LOT 14 CITRUS ACRES LOTS 1 THRU 20 MCR
Marketing Name: Citrus Acres
House Number: 3016
Compass: N
Street Name: 37
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
County Code: Maricopa
Assessor Number: 127-22-019-A
Tax Year: 2024
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 7
Lot Size Dimensions: 195' x 67'
Total # of Units: 7
Year Built: 1945
Zoning: R-3
Project Type
5 - 12 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 2210
Other Income: 0
Vacancy Allowance: 0.03
Adjusted Gross Inc: 88042.5
Pmt & Rate Info
Cap Rate: 4.52
Equity: 1995624
Down Payment %: 20
Monthly Payments: 1000
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Lockbox Type
None: 1
Community Features
See Remarks: 1
Heating
Forced Air: 1
Cooling
Ceiling Fan(s): 1
Electric: 1
Exterior Amenities
Desert Landscaping: 1
Fenced: 1
Interior Features
Mini Blinds: 1
Tenant Pays
Water: 1
Sewer: 1
Electricity: 1
Trash Collection: 1
Appliances Included
Built-In Electric Oven: 1
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
>1 Space Per Unit: 1
Paved: 1
Electric
APS: 1
Gas
None: 1
Owner Pays
Landscaping: 1
New Financing
Cash: 1
Conventional: 1
Existing 1st Loan
Conventional: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 6
Avg Rent: 1030
Avg SqFt: 450
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1350
Avg SqFt: 750
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: 37th street and Thomas
Directions: North from Thomas on 37th street to property
Geo Lat: 33.482926
Geo Lon: -112.002458
Legal Info
Lot Number: 14
Income Expenses
Gross Annual Sch Inc: 90300
Net Operating Income: 90300
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Tile
Sale Includes: Land & Building
Community Features: See Remarks
Exterior Amenities: Desert Landscaping; Fenced
Interior Features: Mini Blinds
Appliances Included: Built-In Electric Oven; Refrigerator; Dishwasher; Disposal; Microwave
Heating: Forced Air
Cooling: Ceiling Fan(s); Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: None
Parking Features: >1 Space Per Unit; Paved
Road Surface Type: Asphalt
Owner Pays: Landscaping
Tenant Pays: Water; Sewer; Electricity; Trash Collection
Source of Fincl Data: Owner
Lockbox Type: None
Existing 1st Loan: Conventional
New Financing: Cash; Conventional
Environmental: None
Listing Office: Platinum Realty Group
Last Updated: January - 26 - 2026
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