7338 N 43rd Avenue, Glendale, AZ 85301 (MLS# 6899094)

7338 N 43rd Avenue, Glendale, AZ 85301

$4,300,000

Property Type: Multiple Dwellings Status: Active

Current Price: $4,300,000 Last Modified: 7/30/2025

Description

Concept at 43rd Ave is a 20-unit townhome community located southwest of the intersection of 43rd & Orangewood Avenues offering immediate mobility through the adjacent Interstate 17 (I- 17) as a connection point to navigate the boundless lifestyle and economic opportunities of the west Valley. The property is presented with access to a strong employment landscape led by ±412,100 total employees within a ten-mile radius across employment corridors featuring tenants such as USAA, American Express, Banner Health, U-Haul, Amazon, and Blue Cross Blue Shield as well as numerous awarding-winning healthcare facilities, Banner University Medical Center.

Supplements: The property also provides close proximity to a number of west Valley mainstays ranging from Westgate Entertainment District to several Spring Training facilities as well as a number of outstanding higher academic campus, including Grand Canyon University & Arizona State University West Campus. Developed in 1983, Concept at 43rd Ave is entirely comprised of two-bedroom townhome floorplans, each covering 920 square feet and an attached two-car garage. Future ownership will have the opportunity to upgrade the remaining 19 classic interiors with an associated renovation premium of $300 per month.

More Information MLS# 6899094

Contract Info

Ownership: Fee Simple Current Price: $4,300,000 List Price: $4,300,000 Status: Active List Date: 2025-07-30

Location, Tax & Legal

Assessor's Map #: 7 Assessor's Parcel #: 17 Add'l Parcels: Yes Tax Municipality: Glendale Taxes: 14107 Legal: CONCEPT 80 MCR 221-13 Marketing Name: Concept on 43rd Ave House Number: 7338 Compass: N Street Name: 43rd St Suffix: Avenue City/Town Code: Glendale State/Province: AZ Zip Code: 85301 County Code: Maricopa Assessor Number: 147-07-017 Tax Year: 2025

General Property Description

# of Buildings: 13 Uncvrd Parking Spcs: 42 Lot Size Dimensions: 18400 Total # of Units: 20 Year Built: 1983 Zoning: R-3

Project Type

13 - 24 Units: 1

Construction

Wood Frame: 1

Const - Finish

Painted: 1 Stucco: 1

Roofing

Composition: 1 Tile: 1

Floors

Vinyl: 1 Carpet: 1

Sale Includes

Building(s) Only: 1

Income & Expenses

Annual Elec Exp: 8520 Annual Ins Exp: 15898 Annual Landscape Exp: 1000 Annual Legal & Acctg: 4000 Annual Maint Exp: 10000 Annual Mgmt Exp: 14343 Owner Association: Yes Annual Ownr Asoc Fee: 40800 Annual Rplcmnt Rsrvs: 5000 Annual Other Expense: 18500 Operating Exp: 132168 Other Income: 30318 Vacancy Allowance: 0.06 Adjusted Gross Inc: 356746.92

Pmt & Rate Info

Cap Rate: 5.27 Equity: 4300000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0

Showing Notification Methods

Showing Service: Aligned Showings

Lockbox Type

None: 1

Community Features

Pool: 1

Heating

Individual: 1

Cooling

Individual: 1

Exterior Amenities

Green Landscaping: 1

Tenant Pays

Electricity: 1

Appliances Included

Refrigerator: 1 Dishwasher: 1 Microwave: 1 Washer/Dryer: 1

Source of Fincl Data

Owner: 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

Water: 1 Sewer: 1 Trash Collection: 1 Landscaping: 1

New Financing

Cash: 1 Conventional: 1

Reports/Disclosures

None: 1

Environmental

None: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

2 Bedroom Units

# 2 Bedroom Units: 20 Avg Rent: 1372 Avg SqFt: 920 # Baths: 30

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Remarks Misc

Geo Lat: 33.544461 Geo Lon: -112.151728

Legal Info

Lot Number: 14

Income Expenses

Gross Annual Sch Inc: 349200 Net Operating Income: 226399

Property Features

Project Type: 13 - 24 Units Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Composition; Tile Floors: Vinyl; Carpet Sale Includes: Building(s) Only Community Features: Pool Exterior Amenities: Green Landscaping Appliances Included: Refrigerator; Dishwasher; Microwave; Washer/Dryer Heating: Individual Cooling: Individual Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: >1 Space Per Unit Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Owner Lockbox Type: None New Financing: Cash; Conventional Environmental: None

Listing Office: Marcus & Millichap

Last Updated: July - 30 - 2025