$2,600,000
Phoenix, AZ 85018
MLS# 6979920
1 / 16
Property Description
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 ½-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!
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $2,600,000
List Price: $2,600,000
Status: Active
List Date: 2026-02-03
Location, Tax & Legal
Assessor's Map #: 15
Legal Description (Abbrev): LOT 10 PALO ALTO PARK MCR 004431
Assessor's Parcel #: 48
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 111000
Taxes: 2239
Legal: LOT 10 PALO ALTO PARK MCR
Marketing Name: Arcadia Groves on 40th
House Number: 3139
Compass: N
Street Name: 40TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
County Code: Maricopa
Subdivision: PALO ALTO PARK
Assessor Number: 127-15-048
Tax Year: 2025
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 8
Lot Size Dimensions: 0 x 0
Total # of Units: 5
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Year Built: 1955
Zoning: R-3
Legal Info
Range: 4E
Section: 30
Township: 2N
Lot Number: 10
Project Type
5 - 12 Units: 1
Other Type
House + Rental Units: 1
Packaged Offering: 1
Construction
Block: 1
Adobe: 1
Const - Finish
Painted: 1
Brick Veneer: 1
Roofing
Composition: 1
Tile: 1
Foam: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 6991.68
Annual Gas Exp: 896.4
Annual Landscape Exp: 3000
Annual Maint Exp: 2100
Annual Mgmt Exp: 7488
Annual Trash Exp: 551.88
Annual Wtr/Swr Exp: 7434.24
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 30701.2
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 273600
Pmt & Rate Info
Cap Rate: 5.14
Equity: 1800000
1st Encumbrance: 800000
Down Payment %: 0
Monthly Payments: 8000
Total Owed: 800000
Payment Includes
Principal: 1
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
None: 1
Community Features
Pool: 1
Other: 1
See Remarks: 1
Heating
Electric: 1
Cooling
Electric: 1
Exterior Amenities
Landscape Water System: 1
Tenant Pays
None: 1
Appliances Included
Refrigerator: 1
Built-In Range: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
<1 Space Per Unit: 1
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Electric: 1
Gas: 1
Trash Collection: 1
Landscaping: 1
Pool Maintenance: 1
New Financing
Cash: 1
VA: 1
Conventional: 1
No Carry: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 4
Avg Rent: 0
Avg SqFt: 621
# Baths: 1
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 24000
Avg SqFt: 1682
# Baths: 2
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: 44th St Thomas Rd
Directions: West on Thomas Rd from 44th Street, then right on 40th Street. Property on right before Osborn Rd, between Cheery Lynn Rd and E Flower Street
Geo Lat: 33.486071
Geo Lon: -111.995086
Income Expenses
Gross Annual Sch Inc: 288000
Net Operating Income: 133548.24
Property Features
Project Type: 5 - 12 Units
Other Type: House + Rental Units; Packaged Offering
Construction: Block; Adobe
Const - Finish: Painted; Brick Veneer
Roofing: Composition; Tile; Foam
Floors: Ceramic Tile
Sale Includes: Land & Building
Payment Includes: Principal
Community Features: Pool; Other; See Remarks
Exterior Amenities: Landscape Water System
Appliances Included: Built-In Range; Refrigerator; Washer/Dryer
Cooling: Electric
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking Features: <1 Space Per Unit
Road Surface Type: Asphalt
Owner Pays: Water; Electric; Gas; Trash Collection; Landscaping; Pool Maintenance
Tenant Pays: None
Source of Fincl Data: Projected Proforma
Lockbox Type: None
New Financing: Cash; VA; Conventional; No Carry
Environmental: None
Supplements
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.
Listing Office: eXp Realty
Last Updated: February - 05 - 2026
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