2923 N 38TH Street, Phoenix, AZ 85018 (MLS# 6995709)

2923 N 38TH Street, Phoenix, AZ 85018

$899,999

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Property Type: Multiple Dwellings Status: Active

Current Price: $899,999 Last Modified: 6/11/2026

Overview

Description

Each unit offers updated kitchens and bathrooms, modern finishes, newer HVAC's, a re-coated roof in 2021, and an in-suite washer and dryer. Residents enjoy a walkable neighborhood just minutes from Arcadia Lite dining, the Camelback Corridor, and major employment centers, including Phoenix Children's Hospital. Flexible residential financing options are available for small multifamily properties. Reach out about oportunity to acquire up to 24 units in the immediate area, offering a rare assemblage opportunity in one of Phoenix's most desirable infill neighborhoods.

Listing Details MLS# 6995709

Location, Tax & Legal

House Number: 2923
Compass: N
Street Name: 38TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Zip4: 7024
Country: US
County Code: Maricopa
Subdivision: CITRUS ACRES LOTS 1 THRU 20
Assessor Number: 127-21-009-C
Tax Year: 2025
Assessor's Map #: 21
Legal Description (Abbrev): CITRUS ACRES LOT 83 E 50.5' OF W 159'
Assessor's Parcel #: 9
Assessor Parcel Ltr: C
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 110902
Taxes: 1654
Legal: CITRUS ACRES LOT 83 E 50.5' OF W 159'
Marketing Name: Citrus Acres Fourplex

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: Unknown
Year Built: 1964
Total # of Units: 4
# of Buildings: Yes
Zoning: R-4
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Uncvrd Parking Spcs: 0

Remarks Misc

Cross Street: 38th St & Thomas

Legal Info

Township: 2N
Range: 3E
Section: 25
Lot Number: 83

Income Expenses

Gross Annual Sch Inc: 75114.83
Net Operating Income: 55737.57

More Information

Showing Notification Methods

Showing Service: Aligned Showings
Text: Yes
Email: Yes
Phone Call: Yes

1 Bedroom Units

# 1 Bedroom Units: 2
Avg Rent: 1534.7
Avg SqFt: 600
# Baths: 2

2 Bedroom Units

# 2 Bedroom Units: 2
Avg Rent: 1605
Avg SqFt: 900
# Baths: 2

Project Type

Four Plex: Yes
13 - 24 Units: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Composition: Yes

Floors

Laminate: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Annual Elec Exp: 825.38
Annual Gas Exp: 318.15
Annual Ins Exp: 1876
Annual Landscape Exp: 1654
Annual Maint Exp: 5119.14
Annual Mgmt Exp: 4081.9
Annual Trash Exp: 2006.99
Annual Wtr/Swr Exp: 2224.02
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 19759.58
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 75114.83

Pmt & Rate Info

Cap Rate: 6.19
Equity: 899999
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

Combo: Yes

Community Features

See Remarks: Yes

Heating

Forced Air: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes

Exterior Amenities

Desert Landscaping: Yes
Patio/Balcony: Yes

Interior Features

Unfurnished: Yes

Tenant Pays

Electricity: Yes

Appliances Included

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

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Free: Yes
1 Space/Unit: Yes
Paved: Yes
Off Street: Yes

Electric

APS: Yes

Gas

City Gas: Yes

Owner Pays

Water: Yes
Sewer: Yes
Gas: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Cash: Yes
VA: Yes
Conventional: Yes
FHA: Yes
1031 Exchange: 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; 13 - 24 Units Construction: Block Const - Finish: Painted Roofing: Composition Floors: Laminate Sale Includes: Land & Building Community Features: See Remarks Exterior Amenities: Desert Landscaping; Patio/Balcony Interior Features: Unfurnished Appliances Included: 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: APS Gas: City Gas Parking Features: 1 Space/Unit; Free; Paved; Off Street Road Access Type: Private Road Road Surface Type: Asphalt Owner Pays: Water; Gas; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Owner Showing Notification Methods: Text; Email; Phone Call Lockbox Type: Combo New Financing: Cash; VA; FHA; Conventional; 1031 Exchange Environmental: None

Listing Office: Orion Investment Real Estate

Last Updated: June - 11 - 2026