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Sold for $810,000
    • $810,000

    17851 N 40TH Street, Phoenix, AZ 85032

    8beds
    5baths
    4,000sqft
    Multi Family
    Built in 1981
    -- sqft lot
    $1,037,700 Zestimate®
    $203/sqft
    $1,806 Estimated rent

    Home value

    $1,037,700

    $903,000 - $1.19M

    $1,806/mo

    Zestimate® history
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    $4,879/mo

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    $4,879/mo

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    What's special

    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.

    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#: 6875080MLS Logo

    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 & HOA

    Community
    • Features: Other
    Location
    • Region: Phoenix

    Financial & listing details

    • Price per square foot: $203/sqft
    • Tax assessed value: $712,300
    • Annual tax amount: $1,817
    • Date on market: 6/4/2025
    • Cumulative days on market: 28 days
    • Listing terms: Conventional,1031 Exchange,FHA,VA Loan
    • Ownership: Fee Simple
    • Electric utility on property: Yes

    Price history

    DateEventPrice
    7/28/2025Sold$810,000-4.6%$203/sqft
    Source: ARMLS #6875080 Report a problem
    7/2/2025Pending sale$849,000$212/sqft
    Source: ARMLS #6875080 Report a problem
    6/4/2025Listed for sale$849,000-0.1%$212/sqft
    Source: ARMLS #6875080 Report a problem
    1/21/2025Listing removed$850,000$213/sqft
    Source: ARMLS #6786714 Report a problem
    11/21/2024Listed for sale$850,000+226.9%$213/sqft
    Source: ARMLS #6786714 Report a problem
    4/30/2022Listing removed--
    Source: Zillow Rental Manager Report a problem
    4/27/2022Listed for rent$1,550
    Source: Zillow Rental Manager Report a problem
    3/10/2022Listing removed--
    Source: Zillow Rental Manager Report a problem
    3/8/2022Price change$1,550-2.8%
    Source: Zillow Rental Manager Report a problem
    2/24/2022Listed for rent$1,595
    Source: Zillow Rental Manager Report a problem
    12/31/2015Sold$260,000-16.9%$65/sqft
    Source: Public Record Report a problem
    1/1/2014Listing removed$313,000$78/sqft
    Source: Century 21 Platinum Real Estate #4946198 Report a problem
    6/4/2013Listed for sale$313,000-30.4%$78/sqft
    Source: Century 21 Platinum Real Estate #4946198 Report a problem
    6/22/2006Sold$450,000$113/sqft
    Source: ARMLS #2495862 Report a problem

    Public tax history

    YearProperty taxesTax 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 homes

    Nearby schools

    GreatSchools rating
    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
    $1,037,700
    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
    $1,037,700

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