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1845 E Illini St, Phoenix, AZ 85040

$499,900
  • 5

    bed

  • 5

    bath

Multi-family for sale 95 days
$10K price drop
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About 1845 E Illini St

Property type Multi-family
Neighborhood
Year built 2025
HOA fee $0/month
Property description
LIVE FOR LESS THAN HALF PRICE! Why rent when your tenant can help pay for your home? This outstanding 2025-built duplex offers the opportunity to live in one unit while approximately $2100/month rent from the other can offset more than half your housing payment. Well-maintained and in excellent condition, each unit features wood-look tile, Samsung stainless appliances, 42'' espresso cabinetry, 2'' wood blinds, and modern finishes. Reliable tenants pay their own electric. Ample on-site parking. Also an excellent investor opportunity with approximately $34,000 annual income and an attractive 7% CAP rate. FHA, VA, conventional, cash, or 1031 buyers welcome.
Listed by
Listing Agent - Dean Selvey
Listing Office - RE/MAX Excalibur
Source: ARMLS mls logo
MLS#7040008 • last updated 2 weeks ago
Movoto checked ARMLS for data 13 minutes ago
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Overview
Cooling/AC Central Air, Ceiling Fan(s), Heat Pump, Individual
Heating Electric
MLS # 7040008
Type Multiple Dwellings
Status Active
Property Tax 4228
Year Built 2025
Interior
Total # of Bathrooms 3
Total # of Bedrooms 5
Flooring Tile, Carpet
Appliances Built-In Range, Disposal, Dishwasher, Refrigerator, Built-In Electric Oven, Microwave, W/D Hookup
Exterior
Roof Composition
Construction Wood Frame, Stucco
Parking Attached Carport, Add'l Parking Avail, >1 Space Per Unit, Carport
# of Open Parking Spaces 2
# of Covered Spaces 2
Amenities / Utilities
Water Source City Franchise
Sewer/Septic Public Sewer
Location
Subdivision PROGRESS PLACE
Community Features No Pool
Elementary School Percy L Julian School
Elementary School District Roosevelt Elementary District
Middle School Percy L Julian School
High School District Phoenix Union High School District
High School South Mountain High School
APN 122-32-090
Zoning R3
Multifamily Details
Total # of Units 2
Expense: Operating 12968
Financial Data Source Owner
Expense: Insurance 888
Net Operating Income 35673
Gross Income 44400
Expense: Other 4228
Expense: Professional Management 3108
Expense: Water/Sewer 516
Gross Scheduled Income 44400
Lot/ Land Details
Road Surface Asphalt
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1/10
Percy L Julian School
public Grades 4-8
Roosevelt Elementary District
2/10
South Mountain High School
public Grades 9-12
Phoenix Union High School District
8/10
Phoenix Coding Academy
public Grades 9-12
Phoenix Union High School District
Source: GreatSchools.org © 2026. All rights reserved.

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  • Real Estate
  • AZ
  • Maricopa County
  • Phoenix
  • 85040
  • South Mountain
  • 1845 E Illini St

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