$900,000
Phoenix, AZ 85018
MLS# 7013792
1 / 26
Property Description
FULLY REMODELED UNITS! This multi-family property presents a strong, turnkey investment opportunity with immediate and reliable cash flow. The asset consists of four units, including two 2 bedroom 2 bath units and two 1 bedroom 1 bath units, offering a desirable unit mix that attracts a broad tenant base. Each unit has been thoughtfully upgraded with modern finishes, minimizing near term capital expenditures and reducing ongoing maintenance concerns. The 2 bedroom units average approximately 850 square feet, while the 1 bedroom units offer around 700 square feet, providing efficient and highly rentable layouts. The property delivers excellent income performance, with all units renting at 1,200 per month, creating consistent and predictable revenue. This makes it an ideal opportunity
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $900,000
List Price: $900,000
Status: Active
List Date: 2026-04-14
Location, Tax & Legal
Assessor's Map #: 21
Legal Description (Abbrev): CITRUS ACRES LOT 83 E 50.5' OF W 209.5'
Assessor's Parcel #: 8
Assessor Parcel Ltr: C
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 110902
Taxes: 1654
Legal: CITRUS ACRES LOT 83 E 50.5' OF W 209.5'
Marketing Name: Sterling Apartments
House Number: 2925
Compass: N
Street Name: 38TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Zip4: 7025
County Code: Maricopa
Subdivision: CITRUS ACRES LOTS 1 THRU 20
Assessor Number: 127-21-008-C
Tax Year: 2025
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 4
Lot Size Dimensions: irr
Total # of Units: 10
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Elementary School: Monte Vista Elementary School
Jr. High School: Monte Vista Elementary School
High School: Camelback High School
Year Built: 1964
Zoning: multi
Legal Info
Range: 3E
Section: 25
Township: 2N
Lot Number: 83
Project Type
Four Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Foam: 1
Floors
Laminate: 1
Sale Includes
Land & Building: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 1654
Other Income: 12000
Vacancy Allowance: 0.5
Adjusted Gross Inc: 34800
Pmt & Rate Info
Cap Rate: 4.56
Equity: 900000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
Supra: 1
Combo: 1
See Private Remarks: 1
Community Features
No Pool: 1
Pool: 1
Heating
Forced Air: 1
Cooling
Central Air: 1
Exterior Amenities
Cable TV Available: 1
Tenant Pays
Gas: 1
Water: 1
Sewer: 1
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Microwave: 1
Refrigerator: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Free: 1
>1 Space Per Unit: 1
Paved: 1
Add'l Parking Avail: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Trash Collection: 1
Landscaping: 1
New Financing
Cash: 1
VA: 1
Conventional: 1
FHA: 1
Existing 1st Loan
Treat as Free&Clear: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 1200
Avg SqFt: 700
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1200
Avg SqFt: 700
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 2
Avg Rent: 1200
Avg SqFt: 850
# Baths: 2
4 Bedrooms Units
# 4 Bedroom Units: 2
Avg Rent: 1200
Avg SqFt: 850
# Baths: 2
Remarks Misc
Cross Street: Thomas & 38th St
Directions: Heating North on 38th St, property is on the East side of Street.
Geo Lat: 33.481347
Geo Lon: -111.999155
Income Expenses
Gross Annual Sch Inc: 57600
Net Operating Income: 41000
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted; Stucco
Roofing: Foam
Floors: Laminate
Sale Includes: Land & Building
Community Features: No Pool; Pool
Exterior Amenities: Cable TV Available
Appliances Included: Refrigerator; Dishwasher; Microwave
Heating: Forced Air
Cooling: Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: >1 Space Per Unit; Add'l Parking Avail; Free; Paved
Road Surface Type: Asphalt
Owner Pays: Trash Collection; Landscaping
Tenant Pays: Water; Sewer; Electricity; Gas; Cable TV
Source of Fincl Data: Owner
Lockbox Type: Supra; Combo; See Private Remarks
Existing 1st Loan: Treat as Free&Clear
New Financing: Cash; VA; FHA; Conventional
Environmental: None
Supplements
investors seeking stable cash flow, strong rental demand, and a low maintenance asset.
With its combination of renovations, solid in place rents, and appealing unit mix, this property is well positioned for long term appreciation and continued income growth.
Listing Office: Keller Williams Integrity First
Last Updated: April - 16 - 2026
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