1927 E CROCUS Drive, Phoenix, AZ 85022

$850,000
Property Type: Multiple Dwellings Status: Active
Current Price: $850,000 Last Modified: 2/21/2026

Description

Turn-Key, Hands-Off Investment with Proven Operator | Phoenix, AZ This is a rare, fully leased, NNN investment opportunity ideal for investors seeking predictable cash flow with zero day-to-day landlord responsibilities. The property is a 4-bedroom, 3-bathroom home with a pool, operating successfully as a licensed transitional housing facility with a strong, experienced tenant and documented operating history. The Seller has invested approximately $40,000 in recent upgrades, resulting in a modern, well-maintained, and highly functional property. With the tenant fully in place and operations stabilized, this offering is perfect for a truly passive investor. Important to see supplement

Supplements: The property is secured by a 5-year NNN lease at $5,200 per month, with annual rent escalations of $1,200 per year in Years 2 through 5, providing built-in income growth. The lease also includes two (2) additional 5-year renewal options, offering long-term stability and downside protection. Landlord Responsibilities: NONE. The tenant is responsible for prorated property taxes, insurance, utilities, pool maintenance, property upkeep, and all operational expenses, allowing ownership to enjoy hands-off income with no management burden. Backed by a tenant with a very strong track record, this investment delivers durable cash flow, annual rent growth, and long-term lease securityan ideal solution for investors prioritizing stability, simplicity, and predictability. Why This Works for Investors Fully leased, stabilized NNN investment Annual rent escalations already built into the lease Two 5-year renewal options for long-term income Experienced, credit-worthy tenant with a strong operating history No landlord responsibilities  truly passive ownership Recent capital improvements already completed Immediate cash flow with upside escalations are $100/month each year (=$1,200/year), then the rent schedule is: Year 1: $5,200/mo Year 2: $5,300/mo Year 3: $5,400/mo Year 4: $5,500/mo Year 5: $5,600/mo Assuming this is true NNN (rent H NOI because tenant covers the expenses), here are the cap rates on a $850,000 price: Cap Rate by Year (Price = $850,000) Year Monthly Rent Annual NOI Cap Rate 1 $5,200 $62,400 7.34% 2 $5,300 $63,600 7.48% 3 $5,400 $64,800 7.62% 4 $5,500 $66,000 7.76% 5 $5,600 $67,200 7.91%

More Information MLS# 6971140

Contract Info

Ownership: Fee Simple Current Price: $850,000 List Price: $850,000 Status: Active List Date: 2026-01-19

Location, Tax & Legal

Assessor's Map #: 50 Legal Description (Abbrev): LOT 525 CAVE CREEK UNIT 3 MCR Assessor's Parcel #: 196 Add'l Parcels: No Tax Municipality: Phoenix Census Tract: 103607 Taxes: 2590 Legal: LOT 525 CAVE CREEK UNIT 3 MCR Marketing Name: NNN Leased Property House Number: 1927 Compass: E Street Name: CROCUS St Suffix: Drive City/Town Code: Phoenix State/Province: AZ Zip Code: 85022 Zip4: 4512 County Code: Maricopa Subdivision: CAVE CREEK UNIT 3 Assessor Number: 214-50-196 Tax Year: 2025

General Property Description

# of Buildings: 1 Uncvrd Parking Spcs: 2 Lot Size Dimensions: irr Flood Zone: TBD Total # of Units: 6 Elementary School District: Paradise Valley Unified District High School District: Paradise Valley Unified District Year Built: 1986 Zoning: R-3

Legal Info

Range: 3E Section: 10 Township: 3N Lot Number: 525

Project Type

Other (See Remarks): 1

Construction

Block: 1 Wood Frame: 1

Const - Finish

Painted: 1 Stucco: 1

Roofing

Tile: 1

Floors

Ceramic Tile: 1

Sale Includes

Land & Building: 1 Pool Equipment: 1 Laundry Equipment: 1

Income & Expenses

Owner Association: No Annual Ownr Asoc Fee: 0 Operating Exp: 2590 Other Income: 5350 Vacancy Allowance: 0 Adjusted Gross Inc: 67750

Pmt & Rate Info

Cap Rate: 7.34 Equity: 850000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0

Showing Notification Methods

Showing Service: Aligned Showings

Lockbox Type

Supra: 1 See Private Remarks: 1

Community Features

No Pool: 1

Heating

Heat Pump: 1 Individual: 1

Cooling

Ceiling Fan(s): 1 Heat Pump: 1 Individual: 1

Tenant Pays

Water: 1 Sewer: 1 Electricity: 1 Trash Collection: 1 Cable TV: 1 Landscaping: 1 Pool Maintenance: 1

Appliances Included

Dishwasher: 1 Disposal: 1 Microwave: 1 Refrigerator: 1 Free-Standing Range: 1 W/D Hookup: 1

Road Surface Type

Asphalt: 1

Source of Fincl Data

Books Shwn Accpt Ofr: 1 Other (See Remarks): 1

Water Source

Individual Meter: 1

Sewer

Sewer - Public: 1

Parking Features

Garage: 1 On Street: 1 >1 Space Per Unit: 1 Garage Door Opener: 1 Attached Garage: 1

Electric

APS: 1 Individual Meter: 1

Gas

None: 1

Owner Pays

None: 1

New Financing

Cash: 1 Conventional: 1 No Carry: 1

Reports/Disclosures

Seller Prop Disc Stm: 1 Sch of Personal Prop: 1

Environmental

None: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

# 1 Bedroom Units: 6 Avg Rent: 5200 Avg SqFt: 1800 # Baths: 1

2 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Remarks Misc

Geo Lat: 33.61577 Geo Lon: -112.040776

Income Expenses

Gross Annual Sch Inc: 62400 Net Operating Income: 62400

Property Features

Project Type: Other (See Remarks) Construction: Block; Wood Frame Const - Finish: Painted; Stucco Roofing: Tile Floors: Ceramic Tile Sale Includes: Land & Building; Pool Equipment; Laundry Equipment Community Features: No Pool Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; W/D Hookup Heating: Individual; Heat Pump Cooling: Ceiling Fan(s); Heat Pump; Individual Water Source: Individual Meter Sewer: Sewer - Public Electric: APS; Individual Meter Gas: None Parking Features: Garage; On Street; >1 Space Per Unit; Garage Door Opener; Attached Garage Road Surface Type: Asphalt Owner Pays: None Tenant Pays: Water; Sewer; Electricity; Trash Collection; Cable TV; Landscaping; Pool Maintenance Source of Fincl Data: Books Shwn Accpt Ofr; Other (See Remarks) Lockbox Type: Supra; See Private Remarks New Financing: Cash; Conventional; No Carry Environmental: None
Listing Office: Gerchick Real Estate
IDX
Last Updated: February - 21 - 2026
Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.