3139 N 40th St Phoenix, AZ 85018
Camelback East Village NeighborhoodEstimated payment $13,715/month
Highlights
- Private Pool
- Cooling Available
- Heating Available
- Tavan Elementary School Rated A
- Ceramic Tile Flooring
About This Home
Rare investment opportunity in Arcadia Lite! Flexible 5-unit residential compound ideal for residential assisted living, adult care, sober living, transitional housing, or premium rental income with high ROI! Nearly 1⁄2-acre property w/ 3BR/2BA single-family+ 4-plex w/ 1BR/1BA units, each w/ private yard! Excellent setup for assisted living or adult care model w/ multiple living spaces & inviting amenities for high quality of life. True turnkey asset w/ full cosmetic remodel in 2022. Low operating expenses & no major capital outlay required to create immediate revenue opportunity. Desirable outdoor living w/ pool, hot tubs, bocce ball and lots of green space. Block wall perimeter with controlled access for privacy & security. Expanded income options w/ minimal modifications too! remodel completed in 2022 makes this a true turnkey asset, reducing near-term capital expenses and positioning the property for immediate operation. The grounds are designed for lifestyle and engagementan important value driver for both premium rentals and care-related housingfeaturing putt-putt golf and bocce ball. A private pool is secured and closed off exclusively to the main home, adding an additional amenity layer and operational flexibility. Block walls around the perimeter provide exceptional privacy and a secure, enclosed environmentideal for resident comfort, quiet enjoyment, and controlled access.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,239
Year Built
- Built in 1955
Home Design
- Brick Exterior Construction
- Tile Roof
- Composition Roof
- Foam Roof
- Block Exterior
- Adobe
Parking
- 8 Open Parking Spaces
- 11 Parking Spaces
- 3 Covered Spaces
Utilities
- Cooling Available
- Heating Available
- Master Water Meter
Additional Features
- Ceramic Tile Flooring
- Private Pool
- Additional Parcels
Listing and Financial Details
- Tax Lot 10
- Assessor Parcel Number 127-15-048
Community Details
Overview
- 2 Buildings
- 5 Units
- Building Dimensions are 0 x 0
- Palo Alto Park Subdivision
Recreation
- Heated Community Pool
Building Details
- Operating Expense $30,701
- Gross Income $273,600
- Net Operating Income $133,548
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 | $2,239 | $27,203 | -- | -- |
| 2024 | $2,095 | $25,908 | -- | -- |
| 2023 | $2,095 | $100,700 | $20,140 | $80,560 |
| 2022 | $1,897 | $77,080 | $15,410 | $61,670 |
| 2021 | $1,976 | $65,130 | $13,020 | $52,110 |
| 2020 | $1,946 | $56,780 | $11,350 | $45,430 |
| 2019 | $1,876 | $49,170 | $9,830 | $39,340 |
| 2018 | $1,809 | $41,860 | $8,372 | $33,488 |
| 2017 | $1,730 | $27,760 | $5,550 | $22,210 |
| 2016 | $1,684 | $28,050 | $5,610 | $22,440 |
| 2015 | $1,545 | $26,100 | $5,220 | $20,880 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/03/2026 02/03/26 | For Sale | $2,600,000 | +171.4% | -- | |
| 04/12/2021 04/12/21 | Sold | $958,000 | -8.8% | $238 / Sq Ft | View Prior Sale |
| 04/09/2021 04/09/21 | Price Changed | $1,050,000 | 0.0% | $261 / Sq Ft | |
| 03/12/2021 03/12/21 | Pending | -- | -- | -- | |
| 03/09/2021 03/09/21 | Price Changed | $1,050,000 | -41.7% | $261 / Sq Ft | |
| 01/25/2021 01/25/21 | For Sale | $1,800,000 | -- | $447 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $2,650,000 | None Listed On Document | |
| Warranty Deed | $2,650,000 | None Listed On Document | |
| Warranty Deed | -- | Truly Title | |
| Warranty Deed | -- | Accommodation | |
| Warranty Deed | $1,090,000 | Driggs Title Agency Inc | |
| Warranty Deed | $1,680,000 | Driggs Title Agency Inc |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $1,495,000 | New Conventional | |
| Previous Owner | $1,837,500 | Construction | |
| Previous Owner | $720,000 | Commercial |
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6979920
APN: 127-15-048
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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