17851 N 40th St Phoenix, AZ 85032
Paradise Valley NeighborhoodEstimated payment $4,853/month
Total Views
1,165
--
Bed
--
Bath
--
Sq Ft
--
Price per Sq Ft
Highlights
- Ceramic Tile Flooring
- Central Air
- Heating Available
- Whispering Wind Academy Rated A-
- Ceiling Fan
- 3-minute walk to Paradise Valley Park
About This Home
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.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,817
Year Built
- Built in 1981
Home Design
- Composition Roof
- Block Exterior
- Stucco
Interior Spaces
- Ceiling Fan
Flooring
- Ceramic Tile
- Vinyl
Parking
- 8 Parking Spaces
- Carport
- Paved Parking
Utilities
- Central Air
- Heating Available
Listing and Financial Details
- Tax Lot 2
- Assessor Parcel Number 215-16-063-V
Community Details
Overview
- 4 Units
- Building Dimensions are n/a
Building Details
- Operating Expense $10,937
- Gross Income $80,976
- Net Operating Income $70,039
Map
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $1,817 | $18,258 | -- | -- |
| 2024 | $1,779 | $17,389 | -- | -- |
| 2023 | $1,779 | $58,360 | $11,670 | $46,690 |
| 2022 | $1,761 | $45,660 | $9,130 | $36,530 |
| 2021 | $1,767 | $42,760 | $8,550 | $34,210 |
| 2020 | $1,712 | $40,650 | $8,130 | $32,520 |
| 2019 | $1,714 | $32,230 | $6,440 | $25,790 |
| 2018 | $1,658 | $28,260 | $5,650 | $22,610 |
| 2017 | $1,589 | $26,370 | $5,270 | $21,100 |
| 2016 | $1,563 | $22,260 | $4,450 | $17,810 |
| 2015 | $1,447 | $26,650 | $5,330 | $21,320 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/26/2025 06/26/25 | Pending | -- | -- | -- |
| 06/04/2025 06/04/25 | For Sale | $849,000 | -- | -- |
Source: Arizona Regional Multiple Listing Service (ARMLS)
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Special Warranty Deed | -- | None Available | |
| Cash Sale Deed | $260,000 | Chicago Title Agency Inc | |
| Quit Claim Deed | -- | None Available | |
| Warranty Deed | -- | None Available | |
| Warranty Deed | $450,000 | Capital Title Agency Inc | |
| Quit Claim Deed | -- | -- | |
| Interfamily Deed Transfer | -- | Chicago Title Insurance Co | |
| Interfamily Deed Transfer | -- | Title Guaranty Agency | |
| Interfamily Deed Transfer | -- | Title Guaranty Agency | |
| Interfamily Deed Transfer | -- | American Title Insurance | |
| Interfamily Deed Transfer | -- | American Title Insurance |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $192,500 | New Conventional | |
| Previous Owner | $292,500 | New Conventional | |
| Previous Owner | $141,500 | New Conventional | |
| Previous Owner | $153,000 | No Value Available | |
| Previous Owner | $155,000 | No Value Available |
Source: Public Records
Similar Homes in the area
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6875080
APN: 215-16-063V
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393
Nearby Homes
- 18002 N 41st St Unit 2
- 18239 N 40th St Unit 122
- 18227 N 40th Place
- 17842 N 43rd St
- 4110 E Wagoner Rd
- 4257 E Marino Dr
- 18428 N 42nd St
- 18212 N 43rd Place
- 4240 E Bluefield Ave
- 4114 E Union Hills Dr Unit 1008
- 3915 E Rockwood Dr
- 4002 E Rockwood Dr
- 17648 N 35th Way
- 4333 E Desert Cactus St
- 4034 E Anderson Dr
- 4224 E Renee Dr
- 17602 N 36th St
- 4223 E Danbury Rd
- 18079 N Villa Rita Dr
- 4345 E Annette Dr