2919 N 38TH Street, Phoenix, AZ 85018

$869,999
Property Type: Multiple Dwellings Status: Active
Current Price: $869,999 Last Modified: 6/22/2026

Overview

Description

2923 N 38th St is a fully renovated fourplex in Phoenix's highly desirable 85018 zip code near Arcadia Lite and the Camelback Corridor. This turnkey multifamily investment features updated units with modern kitchens, upgraded bathrooms, new flooring, and in-unit washer and dryer. Stabilized with strong rental income and long-term tenants, the property offers immediate cash flow. Ideal for investors or owner-occupants, this 4-unit property qualifies for residential financing. Located near top dining, shopping, and major employers including Phoenix Children's Hospital and Banner - University Medical Center Phoenix. Rare opportunity in a high-demand Phoenix rental market.

Listing Details MLS# 7020560

Location, Tax & Legal

House Number
2919
Compass
N
Street Name
38TH
St Suffix
Street
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85018
Zip4
7022
Country
US
County Code
Maricopa
Subdivision
CITRUS ACRES LOTS 1 THRU 20
Assessor Number
127-21-009-A
Tax Year
2025
Assessor's Map #
21
Legal Description (Abbrev)
CITRUS ACRES LOT 83 W 58'
Assessor's Parcel #
9
Assessor Parcel Ltr
A
Add'l Parcels
No
Tax Municipality
Phoenix
Census Tract
110902
Taxes
1688
Legal
CITRUS ACRES LOT 83 W 58'
Marketing Name
Arcadia Lite Fourplex

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
139 x 57.95
Year Built
1964
Uncvrd Parking Spcs
4
Total # of Units
4
# of Buildings
Yes
Zoning
R-4
Elementary School District
Creighton Elementary District
High School District
Phoenix Union High School District

Remarks Misc

Cross Street
38th St & Thomas

Legal Info

Township
2N
Range
3E
Section
25
Lot Number
83

Income Expenses

Gross Annual Sch Inc
60600
Net Operating Income
41157

More Information

Showing Notification Methods

Showing Service
Aligned Showings

1 Bedroom Units

# 1 Bedroom Units
2
Avg Rent
965
Avg SqFt
600
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
2
Avg Rent
1125
Avg SqFt
900
# Baths
2

Project Type

Four Plex
Yes

Construction

Block
Yes

Const - Finish

Painted
Yes

Roofing

Rolled
Yes

Floors

Vinyl
Yes

Sale Includes

Land & Building
Yes

Income & Expenses

Annual Elec Exp
3311
Annual Ins Exp
3360
Annual Landscape Exp
4255
Annual Maint Exp
1035
Owner Association
No
Annual Ownr Asoc Fee
0
Operating Exp
13649
Other Income
0
Vacancy Allowance
0.05
Adjusted Gross Inc
57570

Pmt & Rate Info

Cap Rate
4.7
Equity
875000
Down Payment %
0
Monthly Payments
0
Total Owed
0

Lockbox Type

Other
Yes
None
Yes

Community Features

No Pool
Yes

Heating

Forced Air
Yes

Cooling

Ceiling Fan(s)
Yes
Central Air
Yes

Exterior Amenities

Desert Landscaping
Yes

Tenant Pays

Electricity
Yes

Appliances Included

Built-In Electric Oven
Yes
Dishwasher
Yes
Disposal
Yes
Free-Standing Electric Oven
Yes
Microwave
Yes
Refrigerator
Yes
Washer/Dryer
Yes
W/D Hookup
Yes

Road Access Type

Private Road
Yes

Road Surface Type

Concrete
Yes

Source of Fincl Data

Owner
Yes
Projected Proforma
Yes

Road Responsibility

Private Maintained Road
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

<1 Space Per Unit
Yes

Electric

SRP
Yes

Gas

None
Yes

Owner Pays

Water
Yes
Sewer
Yes
Gas
Yes
Trash Collection
Yes
Landscaping
Yes

New Financing

Cash
Yes
Cash to Loan
Yes
VA
Yes
Conventional
Yes
FHA
Yes
No Carry
Yes
Wraparound
Yes
1031 Exchange
Yes

Existing 1st Loan

Other (See Rmks)
Yes

Existing 1st Loan Type

Not Applicable
Yes

Existing 1st Loan Terms

Not Applicable
Yes

Reports/Disclosures

None
Yes

Environmental

None
Yes

Efficiency Units

Avg Rent
0

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: Four Plex Construction: Block Const - Finish: Painted Roofing: Rolled Floors: Vinyl Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Desert Landscaping Appliances Included: Built-In Electric Oven; Free-Standing Electric Oven; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer; W/D Hookup Heating: Forced Air Cooling: Ceiling Fan(s); Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: <1 Space Per Unit Road Access Type: Private Road Road Surface Type: Concrete Road Responsibility: Private Maintained Road Owner Pays: Water; Gas; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Owner; Projected Proforma Lockbox Type: Other; None Existing 1st Loan: Other (See Rmks) Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable New Financing: Cash; Cash to Loan; VA; FHA; Conventional; No Carry; Wraparound; 1031 Exchange Environmental: None
IDX
Listing Office: Orion Investment Real Estate
Last Updated: June - 22 - 2026
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