Seller's Agent in 2025
Daniel Papin
Apex Residential
(630) 779-6013
7 in this area
47 Total Sales
17851 N 40th St Phoenix, AZ 85032
Paradise Valley Village NeighborhoodEstimated Value: $795,000 - $867,000
Studio
--
Bath
4,004
Sq Ft
$207/Sq Ft
Est. Value
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
As of July 2025Turnkey 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.
Last Agent to Sell the Property
Apex Residential License #SA684875000 Listed on: 06/04/2025
Last Buyer's Agent
Daniel Papin
eXp Realty License #SA684875000
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
- Separate Meters
Listing and Financial Details
- The owner pays for trash collection, water, sewer
- 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
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jun 4, 2025
Closed on
Jul 23, 2025
Sold by
Bought by
Seller's Agent
Daniel Papin
Apex Residential
Buyer's Agent
Daniel Papin
Apex Residential
List Price
$849,000
Sold Price
$810,000
Premium/Discount to List
-$39,000
-4.59%
Views
8
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$18,426
Avg. Annual Appreciation
2.56%
Original Mortgage
$646,800
Outstanding Balance
$645,703
Interest Rate
6.84%
Mortgage Type
Credit Line Revolving
Estimated Equity
$182,723
Purchase Details
Closed on
Oct 3, 2017
Sold by
Bought by
Purchase Details
Closed on
Dec 29, 2015
Sold by
Bought by
Purchase Details
Closed on
Dec 15, 2015
Sold by
Bought by
Purchase Details
Closed on
Oct 8, 2007
Sold by
Bought by
Purchase Details
Closed on
Jun 2, 2006
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$292,500
Interest Rate
1.75%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jan 7, 2005
Sold by
Bought by
Purchase Details
Closed on
Apr 21, 2004
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$141,500
Interest Rate
5.35%
Mortgage Type
New Conventional
Purchase Details
Closed on
Aug 20, 2001
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$153,000
Interest Rate
7.09%
Purchase Details
Closed on
Aug 10, 2000
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$155,000
Interest Rate
8.16%
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Home Values in the Area
Average Home Value in this Area
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $810,000 | Lawyers Title Of Arizona | ||
| -- | None Available | ||
| $260,000 | Chicago Title Agency Inc | ||
| -- | None Available | ||
| -- | None Available | ||
| $450,000 | Capital Title Agency Inc | ||
| -- | -- | ||
| -- | Chicago Title Insurance Co | ||
| -- | Title Guaranty Agency | ||
| -- | Title Guaranty Agency | ||
| -- | American Title Insurance | ||
| -- | American Title Insurance |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $646,800 | ||
| Previous Owner | $292,500 | ||
| Previous Owner | $141,500 | ||
| Previous Owner | $153,000 | ||
| Previous Owner | $155,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/28/2025 07/28/25 | Sold | $810,000 | -4.6% | $202 / Sq Ft |
| 06/26/2025 06/26/25 | Pending | -- | -- | -- |
| 06/04/2025 06/04/25 | For Sale | $849,000 | -- | $212 / Sq Ft |
Source: Arizona Regional Multiple Listing Service (ARMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $1,866 | $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
Agents Affiliated with this Home
-
Daniel Papin
Map
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
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