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Sold for $850,000
    • $850,000

    18227 N 40TH Place, Phoenix, AZ 85032

    5beds
    3baths
    4,000sqft
    Multi Family
    Built in 1980
    -- sqft lot
    $911,600 Zestimate®
    $213/sqft
    $2,001 Estimated rent

    Home value

    $911,600

    $811,000 - $1.02M

    $2,001/mo

    Zestimate® history
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    What's special

    Huge units
    This closed with seller financing (25% down, 6.5% interest; with a 10 year amortization/term). Near Paradise Valley Village, Desert Ridge & Scottsdale. No HOA. Huge units! Three 2 bed/1 bath units (950 sf /-) paired with a 3 bed/2 bath unit (1150 sf /-). 4000 total sf. 11,975 sf lot. R-3 zoning. 20+ year owner has self-managed. Rents are very low at $1000/$850/$850 (2 bed units) & $1450 (3 bed unit). $49,800/yr +$1200 seller-owned w/d units/late/pet/misc = $51,000 gross/yr. $1500/rent for 2 bedroom is viable. 100% occupied with all month-to-month leases. All long-term tenants. No recent rent increases. Two units had kitchen/bath/lighting/etc upgrades in 2022. Newer HVAC/WH. Value-add opportunity.

    Zillow last checked:

    Listing updated:

    Listed by:

    James C Stephens 602-672-3526,

    Better Homes & Gardens Real Estate SJ Fowler

    Bought with:

    Dragan Danilovic, SA530408000

    DPR Realty LLC

    Source: ARMLS,MLS#: 6865522MLS Logo

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 5
    • Bathrooms: 3
    Heating
    • See Remarks, Individual, Heat Pump, Electric
    Cooling
    • Electric, Heat Pump, Individual
    Appliances
    • Included: See Remarks
    Features
    • Flooring: Other, Ceramic Tile, Vinyl
    Interior area
    • Total structure area: 4,000
    • Total interior livable area: 4,000 sqft

    Property

    Parking
    • Total spaces: 8
    • Parking features: Free, Assigned, >1 Space Per Unit
    • Uncovered spaces: 8
    Lot
    • Size: 0.27 Acres
    • Dimensions: 11975 sf
    Details
    • Parcel number: 21515099
    • Zoning: R-3

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family
    Materials
    • Painted, Slump Block
    • Roof: Other,Built-Up
    Condition
    • Year built: 1980

    Utilities & green energy

    • Electric: APS, Individual Meter
    • Sewer: Public Sewer
    • Water: City Franchise

    Community & HOA

    Community
    • Features: See Remarks
    • Subdivision: GENTLE ACRES
    Location
    • Region: Phoenix

    Financial & listing details

    • Price per square foot: $213/sqft
    • Tax assessed value: $706,300
    • Annual tax amount: $1,796
    • Date on market: 7/27/2025
    • Cumulative days on market: 119 days
    • Listing terms: Owner May Carry,Other (See Remarks),Conventional
    • Ownership: Fee Simple
    • Electric utility on property: Yes

    Price history

    DateEventPrice
    9/19/2025Sold$850,000-1.2%$213/sqft
    Source: ARMLS #6865522 Report a problem
    9/9/2025Pending sale$859,900$215/sqft
    Source: ARMLS #6865522 Report a problem
    8/19/2025Price change$859,900-3.3%$215/sqft
    Source: ARMLS #6865522 Report a problem
    6/12/2025Price change$889,000-1.1%$222/sqft
    Source: ARMLS #6865522 Report a problem
    5/13/2025Listed for sale$899,000+99.8%$225/sqft
    Source: ARMLS #6865522 Report a problem
    9/19/2005Sold$450,000$113/sqft
    Source: ARMLS #2306691 Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2025$1,812 +2.6%$70,630 -16.2%
    2024$1,765 +2.1%$84,270 +414.8%
    2023$1,729 -0.7%$16,370 -63.8%
    2022$1,741 +2.9%$45,270 +7%
    2021$1,692 -0.1%$42,320 +5.3%
    2020$1,695 +3.4%$40,180 +25.8%
    2019$1,639 $31,950 +14%
    2018$1,639 +4.3%$28,030 +7.1%
    2017$1,571 +9.8%$26,170 +18.8%
    2016$1,431 -15.2%$22,020 -20.3%
    2015$1,687 $27,630 +40.8%
    2014-- $19,620 +160.6%
    2013-- $7,530 -23.6%
    2012-- $9,850 -23.2%
    2011-- $12,820 -48.8%
    2010-- $25,060 -35.2%
    2009-- $38,650 -3.7%
    2008-- $40,130 +9.3%
    2007-- $36,700 +68.3%
    2006-- $21,800
    2005-- $21,800 +9.8%
    2004-- $19,850
    2003-- $19,850 +39.8%
    2002-- $14,200
    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
    $911,600
    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
    $911,600

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