$700,000
$50K PRICE DROP

4701 N 23rd Dr Phoenix, AZ 85015

Alhambra Neighborhood

Estimated payment $3,801/month

Total Views 4,495
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

Highlights

  • Ceramic Tile Flooring
  • Central Air
  • 4-minute walk to Kid Street Park
  • Phoenix Coding Academy Rated A
  • Heat Pump System

About This Home

Excellent investment property in the heart of Central Phoenix! Located at 4701 N 23rd Dr, Phoenix AZ 85015, this well-maintained triplex features three 2-bedroom, 2-bath units (approx. 996 sq ft each), each individually metered so tenants pay their own utilities. Built in 1985, the property is turnkey and fully occupied with reliable long-term tenants, offering steady cash flow and low owner expenses. Situated near I-17, major employers, dining, and shopping, this multi-unit rental is zoned R-3 and positioned for continued growth in the desirable 85015 area. A smart choice for any investor seeking income potential in the Phoenix rental market.

Listing Agent

Edward Caro

RE/MAX Desert Showcase License #SA662579000 Listed on: 02/07/2025

RE/MAX Desert Showcase

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,728

Year Built

  • Built in 1985

Home Design

  • Block Exterior
  • Stucco

Flooring

  • Ceramic Tile Flooring

Parking

  • 6 Open Parking Spaces
  • 6 Parking Spaces

Schools

  • Westwood Elementary School
  • Alhambra Traditional Middle School
  • Alhambra High School

Utilities

  • Central Air
  • Heat Pump System

Listing and Financial Details

  • Tax Lot 8
  • Assessor Parcel Number 154-03-008-A

Community Details

Overview

  • 3 Units
  • Building Dimensions are 11,378
  • Nicely Place Subdivision

Building Details

  • Operating Expense $4,728
  • Gross Income $36,000
  • Net Operating Income $3,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,728

Year Built

Built in 1985

Lot Details

0

Listing Details

  • Cross Street: 23rd Ave and Highland Ave
  • Legal Info Range: 2E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1985
  • Tax Year: 2024
  • Subdivision Name: NICELY PLACE
  • Tax Parcel Letter: A
  • Cooling:Central Air: Yes
  • Water Source City Franchise2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile
  • Appliances: Free-Standing Range, Refrigerator
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Stucco, Block
  • Roof: Rolled/Hot Mop
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: 1 Space/Unit
  • Attached Garage: No
  • Open Parking Spaces: 6.0
  • Total Parking Spaces: 6.0
  • General Property Description:Uncvrd Parking Spcs: 6.0
  • General Property Description:Total Parking Spcs: 6.0

Utilities

  • Electric: SRP
  • Cooling: Central Air
  • Heating: Heat Pump, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Schools

  • Elementary School: Westwood Elementary School
  • High School: Alhambra High School
  • Junior High Dist: Phoenix Union High School District
  • Middle Or Junior School: Alhambra Traditional School

Lot Info

  • Lot Size: 11,378
  • Additional Parcels: No
  • Parcel #: 154-03-008-A

Multi Family

  • Owner Pays: Landscaping, None
  • Number Of Units Total: 3
  • Annual Gross Income: 36000.0
  • Property Net Operating Income: 3000.0
  • Annual Operating Expense: 4728.0

Tax Info

  • Tax Annual Amount: 1728.0
  • Tax Book Number: 154.00
  • Tax Lot: 8

Map

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

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 $1,902 $12,032 -- --
2024 $1,737 $11,459 -- --
2023 $1,737 $40,170 $8,030 $32,140
2022 $1,710 $30,060 $6,010 $24,050
2021 $1,726 $26,030 $5,200 $20,830
2020 $1,659 $23,060 $4,610 $18,450
2019 $1,639 $19,470 $3,890 $15,580
2018 $1,513 $16,710 $3,340 $13,370
2017 $1,494 $14,880 $2,970 $11,910
2016 $1,431 $13,020 $2,600 $10,420
2015 $1,354 $10,820 $2,160 $8,660
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/01/2026 01/01/26 Price Changed $700,000 -2.8% --
10/07/2025 10/07/25 Price Changed $719,900 0.0% --
09/18/2025 09/18/25 Price Changed $720,000 0.0% --
07/11/2025 07/11/25 Price Changed $719,900 0.0% --
04/24/2025 04/24/25 Price Changed $720,000 -4.0% --
04/02/2025 04/02/25 Price Changed $749,900 0.0% --
02/07/2025 02/07/25 For Sale $750,000 -- --
Source: Arizona Regional Multiple Listing Service (ARMLS)

Purchase History

Date Type Sale Price Title Company
Special Warranty Deed -- None Available
Source: Public Records

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6816622

Arizona Regional Multiple Listing Service (ARMLS)

APN: 154-03-008A

Arizona Maricopa County Phoenix 85015 Alhambra

4701 N 23rd Dr, Phoenix, AZ

For Sale

MultiFamily

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

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Edward Caro
Listing Agent
Edward Caro
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RE/MAX Desert Showcase
(602) 670-2473