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
$810,000
17851 N 40TH Street, Phoenix, AZ 85032
8beds
5baths
4,000sqft
Multi Family
Built in 1981
-- sqft lot
$1,032,500 Zestimate®
$203/sqft
$1,562 Estimated rent
Home value
$1,032,500
$898,000 - $1.19M
$1,562/mo
Zestimate® history
Owner options
List your home for rent
$1,562/mo
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$1,562/mo
Rent Zestimate®
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$4,600/mo
Est. payment
Refinancing to a lower rate could help reduce your monthly payments and save thousands over the life of the loan.
$4,600/mo
Est. payment
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List your homeWhat's special
Zillow last checked:
Listing updated:
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
Price history
| Date | Event | Price |
|---|---|---|
| 7/28/2025 | Sold | $810,000-4.6%$203/sqft |
Source:  ARMLS #6875080 Report a problem | ||
| 7/2/2025 | Pending sale | $849,000$212/sqft |
Source: ARMLS #6875080 Report a problem | ||
| 6/4/2025 | Listed for sale | $849,000-0.1%$212/sqft |
Source: ARMLS #6875080 Report a problem | ||
| 1/21/2025 | Listing removed | $850,000$213/sqft |
Source: ARMLS #6786714 Report a problem | ||
| 11/21/2024 | Listed for sale | $850,000+226.9%$213/sqft |
Source: ARMLS #6786714 Report a problem | ||
| 4/30/2022 | Listing removed | -- |
Source: Zillow Rental Manager Report a problem | ||
| 4/27/2022 | Listed for rent | $1,550 |
Source: Zillow Rental Manager Report a problem | ||
| 3/10/2022 | Listing removed | -- |
Source: Zillow Rental Manager Report a problem | ||
| 3/8/2022 | Price change | $1,550-2.8% |
Source: Zillow Rental Manager Report a problem | ||
| 2/24/2022 | Listed for rent | $1,595 |
Source: Zillow Rental Manager Report a problem | ||
| 12/31/2015 | Sold | $260,000-16.9%$65/sqft |
Source: Public Record Report a problem | ||
| 1/1/2014 | Listing removed | $313,000$78/sqft |
Source: Century 21 Platinum Real Estate #4946198 Report a problem | ||
| 6/4/2013 | Listed for sale | $313,000-30.4%$78/sqft |
Source: Century 21 Platinum Real Estate #4946198 Report a problem | ||
| 6/22/2006 | Sold | $450,000$113/sqft |
Source: ARMLS #2495862 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,833 +2.6% | $71,230 -16.3% |
| 2024 | $1,786 +2.1% | $85,100 +413.9% |
| 2023 | $1,749 -0.7% | $16,561 -63.7% |
| 2022 | $1,761 +2.9% | $45,660 +6.8% |
| 2021 | $1,712 -0.1% | $42,760 +5.2% |
| 2020 | $1,714 +3.4% | $40,650 +26.1% |
| 2019 | $1,658 | $32,230 +14% |
| 2018 | $1,658 +4.3% | $28,260 +7.2% |
| 2017 | $1,589 +9.8% | $26,370 +18.5% |
| 2016 | $1,447 | $22,260 -16.5% |
| 2015 | $1,447 | $26,650 +34.5% |
| 2014 | -- | $19,810 +159.6% |
| 2013 | -- | $7,630 -23.3% |
| 2012 | -- | $9,950 -23.2% |
| 2011 | -- | $12,950 -49.1% |
| 2010 | -- | $25,450 -34.9% |
| 2009 | -- | $39,120 -3.9% |
| 2008 | -- | $40,720 +10.1% |
| 2007 | -- | $37,000 +67.8% |
| 2006 | -- | $22,050 |
| 2005 | -- | $22,050 +10% |
| 2004 | -- | $20,050 |
| 2003 | -- | $20,050 +39.2% |
| 2002 | -- | $14,400 |
Find assessor info on the county website
Neighborhood: Paradise Valley
Nearby schools
GreatSchools rating
- 5/10Whispering Wind AcademyGrades: PK-6Distance: 1.3 mi
- 8/10Paradise Valley High SchoolGrades: 7-12Distance: 0.5 mi
- 6/10Sunrise Middle SchoolGrades: 5-8Distance: 2.5 mi
Schools provided by the listing agent
- District: Paradise Valley Unified District
Source: ARMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$1,032,500
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$1,032,500
- Arizona
- Maricopa County
- Phoenix
- 85032
- Paradise Valley
- 17851 N 40TH Street
Nearby cities
Nearby neighborhoods
Nearby zip codes
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