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Sold on 07/28/2025

17851 N 40th St, Phoenix, AZ 85032

$810,000

Last sold 07/28/2025 after 55 Days

  • 8

    bed

  • 5

    bath

Multi-family not for sale
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About 17851 N 40th St

Property type Multi-family
Neighborhood
Year built 1981
HOA fee $0/month
Property description
Turnkey cash-flowing opportunity in the highly desirable Paradise Valley/Phoenix corridor! This well-maintained 4-unit garden-style complex features all 2 bed / 1 bath units with solid tenant demand and upside potential. Grossing $6,500 a month. Situated in the thriving 85032 ZIP code, close to major freeways, shopping, and the Paradise Valley Mall redevelopment. Whether you're a seasoned investor or new to multifamily, this 8.25% cap rate property delivers immediate returns in one of Phoenix's most active rental markets. Looking for steady income and long-term appreciation? This is the one.
Listed by
Listing Agent - Daniel K Papin
Listing Office - eXp Realty
Source: ARMLS mls logo
MLS#6875080 • last updated 10 months ago
Movoto checked ARMLS for data 5 minutes ago
Overview
Cooling/AC Central Air, Ceiling Fan(s)
Heating Electric
MLS # 6875080
Type Multiple Dwellings
Status Closed
Property Tax 1817
Year Built 1981
Interior
Flooring Ceramic Tile, Vinyl
Appliances Built-In Range, Disposal, Dishwasher, Refrigerator, Built-In Electric Oven, Microwave
Exterior
Roof Composition
Construction Stucco, Block
Parking Paved, Carport
# of Open Parking Spaces 4
# of Covered Spaces 4
Amenities / Utilities
Water Source City Franchise
Sewer/Septic Public Sewer
Location
Community Features Other
Elementary School District Paradise Valley Unified District
High School District Paradise Valley Unified District
APN 215-16-063-V
Zoning M-M
Multifamily Details
Total # of Units 4
Expense: Operating 10937
Financial Data Source Accountant, Owner
Expense: Insurance 4200
Net Operating Income 70039
Gross Income 80976
Expense: Electric 720
Expense: Water/Sewer 4200
Gross Scheduled Income 77760
We are not permitted to show value estimates for this property.
  • Jul 2025
    mls logo MLS # 6875080
  • Jul 28, 2025 Sold
    $810,000
  • Jul 2, 2025 Pending
    —
  • Jun 3, 2025 Listed
    $849,000 (-0.1%)
  • Jul 2025
    Public Records
  • Jul 28, 2025 Sold
    $810,000 (-4.6%)
  • Jan 2025
    mls logo MLS # 6786714
  • Jan 21, 2025 Listed
    —
  • Dec 13, 2024 Active
    —
  • Dec 13, 2024 Sold
    $850,000
  • Nov 23, 2024 Active
    —
  • Nov 21, 2024 Listed
    $850,000 (+88.9%)
  • Aug 2006
    Public Records
  • Aug 2, 2006 Sold
    $450,000
  • Year Property taxes Tax assessment
  • 2024
    $1,817 +2.1%
    $71,230 -16.3%
  • 2023
    $1,779 +1.0%
    $85,100 +45.82%
  • 2022
    $1,761 -0.3%
    $58,360 +27.81%
  • 2021
    $1,767 +3.2%
    $45,660 +6.78%
  • 2020
    $1,712 -0.1%
    $42,760 +5.19%
  • 2019
    $1,714 +3.4%
    $40,650 +26.12%
  • 2018
    $1,658 +4.3%
    $32,230 +14.05%
  • 2017
    $1,589 +1.7%
    $28,260 +7.17%
  • 2016
    $1,563 +8.0%
    $26,370
  • 2015
    $1,447
    —
  • 17851 N 40th St
    $810K
  • Paradise Valley Village
    $650K +1% y/y
  • 85032
    $450K +4% y/y
  • Phoenix
    $455K -2% y/y
No chart available
Statistics calculated by Movoto

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6/10
Whispering Wind Academy
public Grades K-6
Paradise Valley Unified District
4/10
Paradise Valley High School
public Grades 7-12
Paradise Valley Unified District
5/10
Sunrise Middle School
public Grades 7-8
Paradise Valley Unified District
Source: GreatSchools.org © 2026. All rights reserved.

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