$700,000
Phoenix, AZ 85015
MLS# 6816622
1 / 19
Property Description
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.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $700,000
List Price: $700,000
Status: Active
List Date: 2025-02-06
Location, Tax & Legal
Assessor's Map #: 3
Legal Description (Abbrev): LOT 8 NICELY PLACE MCR 003924
Assessor's Parcel #: 8
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 109002
Taxes: 1728
Legal: LOT 8 NICELY PLACE MCR 003924
Marketing Name: Nicely Place
House Number: 4701
Compass: N
Street Name: 23RD
St Suffix: Drive
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85015
Zip4: 3486
County Code: Maricopa
Subdivision: NICELY PLACE
Assessor Number: 154-03-008-A
Tax Year: 2024
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 6
Lot Size Dimensions: 11,378
Flood Zone: No
Total # of Units: 3
Elementary School District: Alhambra Elementary District
High School District: Phoenix Union High School District
Elementary School: Westwood Elementary School
Jr. High School: Alhambra Traditional School
High School: Alhambra High School
Year Built: 1985
Zoning: R-3
Legal Info
Range: 2E
Section: 24
Township: 2N
Lot Number: 8
Project Type
Tri-Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Rolled: 1
Floors
Ceramic Tile: 1
Sale Includes
Building(s) Only: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Other Expense: 3000
Operating Exp: 4728
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 36000
Pmt & Rate Info
Cap Rate: 0.43
Equity: 700000
Down Payment %: 20
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Heat Pump: 1
Electric: 1
Cooling
Central Air: 1
Exterior Amenities
Desert Landscaping: 1
Tenant Pays
Water: 1
Sewer: 1
Electricity: 1
Trash Collection: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
1 Space/Unit: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Landscaping: 1
None: 1
New Financing
Cash: 1
VA: 1
Conventional: 1
No Carry: 1
Existing 1st Loan
Treat as Free&Clear: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Contact Info
List Agent Home Phn: 602-670-2473
Efficiency Units
# Efficiency Units: 3
Avg Rent: 3300
Avg SqFt: 2988
# Baths: 2
1 Bedroom Units
# 1 Bedroom Units: 2
Avg Rent: 1100
Avg SqFt: 996
# Baths: 2
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1100
Avg SqFt: 996
# Baths: 2
3 Bedrooms Units
# 3 Bedroom Units: 2
Avg Rent: 1100
Avg SqFt: 996
# Baths: 2
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: 23rd Ave and Highland Ave
Directions: Located north of Indian School Rd, south of Camelback Rd. From 23rd Ave, head west on Highland Ave. The property is on the northeast corner of 23rd Dr and Highland Ave.
Geo Lat: 33.506106
Geo Lon: -112.109185
Income Expenses
Gross Annual Sch Inc: 36000
Net Operating Income: 3000
Property Features
Project Type: Tri-Plex
Construction: Block
Const - Finish: Painted; Stucco
Roofing: Rolled
Floors: Ceramic Tile
Sale Includes: Building(s) Only
Community Features: No Pool
Exterior Amenities: Desert Landscaping
Appliances Included: Free-Standing Range; Refrigerator
Heating: Heat Pump
Cooling: Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: 1 Space/Unit
Road Surface Type: Asphalt
Owner Pays: Landscaping; None
Tenant Pays: Water; Sewer; Electricity; Trash Collection
Source of Fincl Data: Owner
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
New Financing: Cash; VA; Conventional; No Carry
Environmental: None
Listing Office: RE/MAX Desert Showcase
Last Updated: February - 06 - 2026
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