480-442-0779

3139 N 40TH Street, Phoenix, AZ 85018 (MLS# 6223107)


$1,099,000
3139 N 40TH Street
Phoenix, AZ 85018
MLS# 6223107



3139 N 40TH Street, Phoenix, AZ 85018
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Property Description
Mature landscaping full privacy hedges, banana trees, bougainvillea on large lot near Arcadia. Property has a Full Single family house and a four plex! The pool has been closed off to only use in the 3 bedroom house that is currently vacant. The current zoning for the property is R1-6; One single family house for every 6,000 SF. The dwellings were all built in 1955, and 1935. This area was annexed into Phoenix in 1958, & therefore the City has grandfathered these in. So the right buyer for this would like to make the highest and best use of the property by upgrading the current structures into their full potential.

Details
Maps
Contract Info
Current Price: $1,099,000
List Price: $1,099,000
Status: Active
List Date: 2021-04-16
Ownership: Fee Simple
Location, Tax & Legal
Map Code/Grid: P36
House Number: 3139
Compass: N
Street Name: 40TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 10 PALO ALTO PARK MCR 004431
Subdivision: PALO ALTO PARK
Assessor's Map #: 15
Assessor's Parcel #: 48
Add'l Parcels: Yes
Assessor Number: 127-15-048
Legal: LOT 10 PALO ALTO PARK MCR 004431
Census Tract: 111000
Tax Municipality: Phoenix
Taxes: 1946
Tax Year: 2020
Marketing Name: PALO ALTO PARK
General Property Description
Lot Size Dimensions: 165x115
Year Built: 1955
Uncvrd Parking Spcs: 8
Total # of Units: 5
# of Buildings: 2
Zoning: R-3
Elem School Dist #: 001 - Phoenix Elementary District
High School Dist #: 210 - Phoenix Union High School District
Remarks & Misc
Cross Street: 40th St and Thomas
Directions: North to property
Geo Lat: 33.486081
Geo Lon: -111.995095
Status Change Info
Status Change Date: 2021-04-16
Legal Info
Township: 2N
Range: 4E
Section: 30
Lot Number: 10
Income & Expenses
Owner Association: No
Operating Exp: 1946
Pmt & Rate Info
Equity: 1064000
1 Bedroom Units
# 1 Bedroom Units: 4
Avg Rent: 1200
Avg SqFt: 621
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 3000
Avg SqFt: 1682
# Baths: 2
Property Features
Project Type: 5 - 12 Units
Other Type: House + Rental Units; Packaged Offering
Construction: Block; Adobe
Const - Finish: Painted; Brick Trim/Veneer
Roofing: Comp Shingle; Tile; Foam
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Amenities: Pool(s); Other (See Remarks)
Exterior Amenities: Landscape Wtr System
Appliances Included: BI Oven/Range; W/D Hookup
Heating: Window/Wall Unit(s); Wall Furnace
Cooling: Window/Wall Unit
Water: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking: <1 Space Per Unit
Roads/Streets: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electric; Gas; Cable TV
Source of Fincl Data: Projected Proforma
Existing 1st Loan: Treat as Free&Clear
New Financing: VA; FHA; Conventional
Reports/Disclosures: None
Environmental: None
Supplements
Make improvements and get +/- $8,000/mo in Rents! SFR: 3/2, 1682sf, built 1935, market rent ~$3,000 4-plex: 1/1's, avg 626sf, built 1955, market rent ~$1250/ea. Pool 2017  Sewer lines completely replaced from buildings to Street, with new cleanouts 2010  All supply pipes re-piped with Copper Units separately metered for Electric and Gas; Gas not operative at main house. Most units kept vacant for easy Showing! 1 tenant in place in 1 1/1 unit with $750/mo lease until 8/31/21 Long-Term Rentals  could get +/- $8000/mo in Rents. Boutique Short-Term Rentals and events such as Weddings, Bridal Showers, & Family Reunions. The property is lush and private, perfect for photo opportunities. Yet it is close to all the amenities of Arcadia, Old Town, & Tempe. Could get $20k+/mo in gross rents!!

Listing Office: United Southwest Realty

Last Updated: April - 26 - 2021

3139 N 40TH Street, Phoenix, AZ 85018 - MLS# 6223107

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