$499,900
$10K PRICE DROP

1845 E Illini St Phoenix, AZ 85040

South Mountain Neighborhood

Estimated payment $3,005/month

Total Views 2,086
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

Highlights

  • Breakfast Bar
  • Patio
  • Central Air
  • Phoenix Coding Academy Rated A
  • Attached Carport
  • Ceiling Fan

About This Home

2025 Built duplex in Opportunity Zone; excellent work-force housing; fully rented and stabilized. Generates $36k income and a 7% CAP rate. Very good condition. Tenants pay on time, every time, and pay their elec. Landlord pays water/sewer. Also see 1728 next door. Can be purchased as a 4-plex. Tile floors, Samsung appliances, 2'' wood blinds, 42'' expresso cabinets. Lots of parking. Make money on Day 1.

Listing Agent

Dean Selvey

RE/MAX Excalibur License #SA020464000 Listed on: 06/11/2026

RE/MAX Excalibur

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,228

Year Built

  • Built in 2025

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Interior Spaces

  • Ceiling Fan
  • Drapes & Rods
  • Blinds
  • Breakfast Bar

Parking

  • 4 Parking Spaces
  • Attached Carport
  • Additional Parking

Outdoor Features

  • Patio

Schools

  • Percy L Julian Elementary And Middle School
  • South Mountain High School

Utilities

  • Central Air
  • Air Source Heat Pump
  • Separate Meters
  • Natural Gas Not Available
  • Cable TV Available

Listing and Financial Details

  • The owner pays for water, sewer, trash collection
  • Tax Lot 14
  • Assessor Parcel Number 122-32-090

Community Details

Overview

  • 2 Units
  • Building Dimensions are 7353 SF
  • Progress Place Subdivision

Building Details

  • Operating Expense $12,968
  • Gross Income $44,400
  • Net Operating Income $35,673

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,228

Year Built

Built in 2025

Lot Details

0 Sq Ft Lot

Listing Details

  • Cross Street: BROADWAY AT 24 ST
  • Property Type: Multiple Dwellings
  • Zoning: R3
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 2025
  • Tax Year: 2026
  • Road Surface Type: Asphalt
  • Professional Management Expense: 3108.0
  • Subdivision Name: PROGRESS PLACE
  • Const - Finish:Const - Finish: Stucco
  • Cooling:Cooling: Central Air, Heat Pump, Individual, Ceiling Fan(s)
  • Road Surface Type:Road Surface Type: Asphalt
  • Electric:Electric: Individual Meter, SRP
  • Sale Includes:Sale Includes: Land & Building
  • Special Features: NewHome
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Built-In Range, Refrigerator, Dishwasher, Disposal, Microwave, W/D Hookup, Built-In Electric Oven
  • Interior Features:Interior Features: Mini Blinds, Breakfast Bar, Drapes

Exterior Features

  • Disclosures: None
  • Construction Type: Wood Frame, Stucco
  • Roof: Composition
  • Exterior Amenities: Cable TV Available, Patio/Balcony

Garage/Parking

  • Total Covered Spaces: 2.0
  • Parking Features: Carport, >1 Space Per Unit, Attached Carport
  • Attached Garage: No
  • Open Parking Spaces: 2.0
  • Total Parking Spaces: 4.0
  • Parking Features:Parking Features: Carport, >1 Space Per Unit, Add'l Parking Avail, Attached Carport

Utilities

  • Electric: Individual Meter, SRP
  • Cooling: Central Air, Heat Pump, Varies by Unit, Ceiling Fan(s)
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Gas:Gas: None

Condo/Co-op/Association

  • Community Features: No Pool

Fee Information

  • Annual Water Sewer Expense: 516.0

Schools

  • Elementary School: Percy L Julian School
  • High School: South Mountain High School
  • Junior High Dist: Phoenix Union High School District
  • Middle Or Junior School: Percy L Julian School

Lot Info

  • Lot Size: 7353 SF
  • Additional Parcels: No
  • Parcel #: 122-32-090

Multi Family

  • Owner Pays: Water, Sewer, Trash Collection
  • Tenant Pays: Electricity, Landscaping
  • Number Of Units Total: 2
  • Annual Gross Income: 44400.0
  • Insurance Expense: 888.0
  • Property Net Operating Income: 35673.0
  • Annual Operating Expense: 12968.0

Tax Info

  • Tax Annual Amount: 4228.0
  • Tax Book Number: 122.0
  • Tax Lot: 14

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

Source: Public Records

Average Home Value in this Area

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
06/22/2026 06/22/26 Price Changed $499,900 -2.0% --
06/11/2026 06/11/26 For Sale $509,900 -- --
Source: Arizona Regional Multiple Listing Service (ARMLS)

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 7040008

Arizona Regional Multiple Listing Service (ARMLS)
Arizona Maricopa County Phoenix 85040 South Mountain

1845 E Illini St, Phoenix, AZ

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.

Arizona Regional Multiple Listing Service (ARMLS) 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
Dean Selvey
Listing Agent
Dean Selvey
Section Image
RE/MAX Excalibur
(480) 254-6444
Your Personal Tour Guide

Ask me questions while you tour the home.