1927 E Crocus Dr Phoenix, AZ 85022
Paradise Valley Village NeighborhoodEstimated payment $4,754/month
Highlights
- RV or Boat Parking
- 4 Car Attached Garage
- Breakfast Bar
- Shadow Mountain High School Rated 9+
- Cooling Available
- Patio
About This Home
Turn-Key, Hands-Off Investment with Proven Operator | Phoenix, AZ
This is a rare, fully leased, NNN investment opportunity ideal for investors seeking predictable cash flow with zero day-to-day landlord responsibilities. The property is a 4-bedroom, 3-bathroom home with a pool, operating successfully as a licensed transitional housing facility with a strong, experienced tenant and documented operating history. The Seller has invested approximately $40,000 in recent upgrades, resulting in a modern, well-maintained, and highly functional property. With the tenant fully in place and operations stabilized, this offering is perfect for a truly passive investor. Important to see supplement The property is secured by a 5-year NNN lease at $5,200 per month, with annual rent escalations of $1,200 per year in Years 2 through 5, providing built-in income growth. The lease also includes two (2) additional 5-year renewal options, offering long-term stability and downside protection. Landlord Responsibilities: NONE.
The tenant is responsible for prorated property taxes, insurance, utilities, pool maintenance, property upkeep, and all operational expenses, allowing ownership to enjoy hands-off income with no management burden. Backed by a tenant with a very strong track record, this investment delivers durable cash flow, annual rent growth, and long-term lease securityan ideal solution for investors prioritizing stability, simplicity, and predictability.
Why This Works for Investors Fully leased, stabilized NNN investment Annual rent escalations already built into the lease Two 5-year renewal options for long-term income Experienced, credit-worthy tenant with a strong operating history No landlord responsibilities truly passive ownership Recent capital improvements already completed Immediate cash flow with upside escalations are $100/month each year (=$1,200/year), then the rent schedule is: Year 1: $5,200/mo Year 2: $5,300/mo Year 3: $5,400/mo Year 4: $5,500/mo Year 5: $5,600/mo Assuming this is true NNN (rent H NOI because tenant covers the expenses), here are the cap rates on a $850,000 price:
Cap Rate by Year (Price = $850,000)
YearMonthly RentAnnual NOICap Rate
1$5,200$62,4007.34%
2$5,300$63,6007.48%
3$5,400$64,8007.62%
4$5,500$66,0007.76%
5$5,600$67,2007.91%
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,590
Year Built
- Built in 1986
Lot Details
- Desert Landscape
Home Design
- Wood Frame Construction
- Tile Roof
- Block Exterior
- Stucco
Interior Spaces
- Ceiling Fan
- Vertical Blinds
- Ceramic Tile Flooring
- Breakfast Bar
Home Security
- Security Lights
- Fire and Smoke Detector
- Fire Sprinkler System
Parking
- 4 Car Attached Garage
- Free Parking
- Garage Door Opener
- On-Street Parking
- Open Parking
- RV or Boat Parking
Outdoor Features
- Pool Equipment or Cover
- Patio
Utilities
- Cooling Available
- Air Source Heat Pump
- Separate Meters
- Natural Gas Not Available
- Cable TV Available
Listing and Financial Details
- Tax Lot 525
- Assessor Parcel Number 214-50-196
Community Details
Overview
- 6 Units
- Building Dimensions are irr
- Cave Creek Unit 3 Subdivision
Building Details
- Operating Expense $2,590
- Gross Income $67,750
- Net Operating Income $62,400
Map
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 | $2,590 | $25,342 | -- | -- |
| 2024 | $2,470 | $24,135 | -- | -- |
| 2023 | $2,470 | $41,530 | $8,300 | $33,230 |
| 2022 | $2,445 | $33,000 | $6,600 | $26,400 |
| 2021 | $2,452 | $29,100 | $5,820 | $23,280 |
| 2020 | $2,376 | $28,360 | $5,670 | $22,690 |
| 2019 | $2,379 | $26,570 | $5,310 | $21,260 |
| 2018 | $2,301 | $26,800 | $5,360 | $21,440 |
| 2017 | $2,206 | $23,930 | $4,780 | $19,150 |
| 2016 | $1,849 | $22,820 | $4,560 | $18,260 |
| 2015 | $1,715 | $19,570 | $3,910 | $15,660 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 05/02/2026 05/02/26 | Pending | -- | -- | -- |
| 02/21/2026 02/21/26 | For Sale | $850,000 | 0.0% | -- |
| 01/20/2026 01/20/26 | Pending | -- | -- | -- |
| 01/19/2026 01/19/26 | For Sale | $850,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $277,000 | Pioneer Title Agency Inc | |
| Interfamily Deed Transfer | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $222,000 | Purchase Money Mortgage |
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6971140
APN: 214-50-196
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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Ask me questions while you tour the home.