Turnkey 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.
Sold for $810,000 on 07/28/25
$810,000
17851 N 40th St, Phoenix, AZ 85032
8beds
5baths
4,000sqft
Multi Family
Built in 1981
-- sqft lot
$809,000 Zestimate®
$203/sqft
$3,675 Estimated rent
What's special
Zillow last checked: 7 hours ago
Listing updated: July 28, 2025 at 04:49pm
Listed by:
Daniel K Papin 630-779-6013,
eXp Realty
Bought with:
Daniel K Papin, SA684875000
eXp Realty
Source: ARMLS,MLS#: 6875080

Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 5
Heating
- Electric
Cooling
- Central Air, Ceiling Fan(s)
Appliances
- Included: Built-In Range, Disposal, Dishwasher, Refrigerator, Built-In Electric Oven, Microwave
Features
- Flooring: Ceramic Tile, Vinyl
Interior area
- Total structure area: 4,000
- Total interior livable area: 4,000 sqft
Property
Parking
- Total spaces: 8
- Parking features: Paved, Carport
- Has carport: Yes
- Covered spaces: 4
- Uncovered spaces: 4
Details
- Parcel number: 21516063V
- Zoning: M-M
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Stucco, Block
- Roof: Composition
Condition
- Year built: 1981
Utilities & green energy
- Electric: APS, Individual Meter
- Sewer: Public Sewer
- Water: City Franchise
Community & neighborhood
Community
- Community features: Other
Location
- Region: Phoenix
Other
Other facts
- Listing terms: Conventional,1031 Exchange,FHA,VA Loan
- Ownership: Fee Simple
- Road surface type: Asphalt
Services availability
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Estimated market value
$809,000