3139 N 40TH Street, Phoenix, AZ 85018

$2,599,000
Property Type: Multiple Dwellings Status: Active
Current Price: $2,599,000 Last Modified: 11/19/2025

Description

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. Financials for the property are available in the Documents Tab of this listing.

More Information MLS# 6874576

Contract Info

Ownership: Fee Simple Current Price: $2,599,000 List Price: $2,599,000 Status: Active List Date: 2025-05-29

Location, Tax & Legal

Assessor's Map #: 15 Legal Description (Abbrev): LOT 10 PALO ALTO PARK MCR 004431 Assessor's Parcel #: 48 Add'l Parcels: No Tax Municipality: Phoenix Census Tract: 111000 Taxes: 2138 Legal: LOT 10 PALO ALTO PARK MCR 004431 Marketing Name: Palo Alto Park House Number: 3139 Compass: N Street Name: 40TH St Suffix: Street City/Town Code: Phoenix State/Province: AZ Zip Code: 85018 Zip4: 6472 County Code: Maricopa Subdivision: PALO ALTO PARK Assessor Number: 127-15-048 Tax Year: 2024

General Property Description

# of Buildings: 2 Uncvrd Parking Spcs: 11 Lot Size Dimensions: 0.432 acres / 18,820 sqft Total # of Units: 5 Elementary School District: Scottsdale Unified District High School District: Scottsdale Unified District Elementary School: Tavan Elementary School Jr. High School: Ingleside Middle School High School: Arcadia High School Year Built: 1955 Zoning: R-3

Legal Info

Range: 4E Section: 30 Township: 2N Lot Number: 10

Project Type

Four Plex: 1 5 - 12 Units: 1

Other Type

House + Rental Units: 1

Construction

Block: 1 Adobe: 1

Const - Finish

Painted: 1 Brick Veneer: 1

Roofing

Composition: 1 Tile: 1 Foam: 1

Floors

Vinyl: 1

Sale Includes

Land & Building: 1 Laundry Equipment: 1

Income & Expenses

Owner Association: No Annual Ownr Asoc Fee: 0 Operating Exp: 2138 Other Income: 0 Vacancy Allowance: 0.1 Adjusted Gross Inc: 252000

Pmt & Rate Info

Cap Rate: 5.08 Equity: 1120691 1st Encumbrance: 1478309 Down Payment %: 5 Monthly Payments: 12569 1st Payment Freq: Monthly Total Owed: 1478309

Showing Notification Methods

Showing Service: Aligned Showings Text: 1 Email: 1

Lockbox Type

See Private Remarks: 1

Community Features

Pool: 1 Heated Pool(s): 1 Play Area: 1 Other: 1 See Remarks: 1

Heating

Natural Gas: 1

Cooling

Electric: 1

Exterior Amenities

Landscape Water System: 1 Green Landscaping: 1 Fenced: 1 Patio/Balcony: 1

Interior Features

Fire/Smoke Alarm(s): 1

Tenant Pays

Gas: 1 Water: 1 Sewer: 1 Electricity: 1 Trash Collection: 1 Cable TV: 1 Pool Maintenance: 1

Appliances Included

Dishwasher: 1 Disposal: 1 Free-Standing Electric Oven: 1 Microwave: 1 Refrigerator: 1 Washer/Dryer: 1 W/D Hookup: 1

Road Surface Type

Asphalt: 1

Source of Fincl Data

Owner: 1 Projected Proforma: 1 Books Shwn Accpt Ofr: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Parking Features

<1 Space Per Unit: 1

Electric

SRP: 1

Gas

SW Gas: 1

Owner Pays

Landscaping: 1

New Financing

Cash: 1 Conventional: 1

Special

Owner/Agent: 1

Existing 1st Loan

Conventional: 1

Existing 1st Loan Type

Fixed: 1

Existing 1st Loan Terms

Non Assumable: 1

Reports/Disclosures

None: 1

Environmental

None: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

# 1 Bedroom Units: 4 Avg Rent: 2500 Avg SqFt: 680 # Baths: 1

2 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

# 3 Bedroom Units: 1 Avg Rent: 7000 Avg SqFt: 1748 # Baths: 2

4 Bedrooms Units

Avg Rent: 0

Remarks Misc

Geo Lat: 33.486078 Geo Lon: -111.995095

Income Expenses

Gross Annual Sch Inc: 280000 Net Operating Income: 132000

Property Features

Project Type: Four Plex; 5 - 12 Units Other Type: House + Rental Units Construction: Block; Adobe Const - Finish: Painted; Brick Veneer Roofing: Composition; Tile; Foam Floors: Vinyl Sale Includes: Land & Building; Laundry Equipment Community Features: Pool; Heated Pool(s); Play Area; Other; See Remarks Exterior Amenities: Landscape Water System; Green Landscaping; Fenced; Patio/Balcony Interior Features: Fire/Smoke Alarm(s) Appliances Included: Free-Standing Electric Oven; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer; W/D Hookup Heating: Natural Gas Cooling: Electric Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: <1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Landscaping Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Cable TV; Pool Maintenance Source of Fincl Data: Owner; Projected Proforma; Books Shwn Accpt Ofr Special: Owner/Agent Showing Notification Methods: Text; Email Lockbox Type: See Private Remarks Existing 1st Loan: Conventional Existing 1st Loan Type: Fixed Existing 1st Loan Terms: Non Assumable New Financing: Cash; Conventional Environmental: None
Listing Office: Gentry Real Estate
IDX
Last Updated: November - 19 - 2025
Broker Attribution: 480.703.5914
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