2925 N 38TH Street, Phoenix, AZ 85018 (MLS# 7013792)

2925 N 38TH Street, Phoenix, AZ 85018

$900,000

Property Type: Multiple Dwellings Status: Active

Current Price: $900,000 Last Modified: 4/17/2026

Description

FULLY REMODELED UNITS! This multi-family property presents a strong, turnkey investment opportunity with immediate and reliable cash flow. The asset consists of four units, including two 2 bedroom 2 bath units and two 1 bedroom 1 bath units, offering a desirable unit mix that attracts a broad tenant base. Each unit has been thoughtfully upgraded with modern finishes, minimizing near term capital expenditures and reducing ongoing maintenance concerns. The 2 bedroom units average approximately 850 square feet, while the 1 bedroom units offer around 700 square feet, providing efficient and highly rentable layouts. The property delivers excellent income performance, with all units renting at 1,200 per month, creating consistent and predictable revenue. This makes it an ideal opportunity

Supplements: investors seeking stable cash flow, strong rental demand, and a low maintenance asset. With its combination of renovations, solid in place rents, and appealing unit mix, this property is well positioned for long term appreciation and continued income growth.

More Information MLS# 7013792

Contract Info

Ownership: Fee Simple Current Price: $900,000 List Price: $900,000 Status: Active List Date: 2026-04-14

Location, Tax & Legal

Assessor's Map #: 21 Legal Description (Abbrev): CITRUS ACRES LOT 83 E 50.5' OF W 209.5' Assessor's Parcel #: 8 Assessor Parcel Ltr: C Add'l Parcels: Yes Tax Municipality: Phoenix Census Tract: 110902 Taxes: 1654 Legal: CITRUS ACRES LOT 83 E 50.5' OF W 209.5' Marketing Name: Sterling Apartments House Number: 2925 Compass: N Street Name: 38TH St Suffix: Street City/Town Code: Phoenix State/Province: AZ Zip Code: 85018 Zip4: 7025 County Code: Maricopa Subdivision: CITRUS ACRES LOTS 1 THRU 20 Assessor Number: 127-21-008-C Tax Year: 2025

General Property Description

# of Buildings: 1 Uncvrd Parking Spcs: 4 Lot Size Dimensions: irr Total # of Units: 10 Elementary School District: Creighton Elementary District High School District: Phoenix Union High School District Elementary School: Monte Vista Elementary School Jr. High School: Monte Vista Elementary School High School: Camelback High School Year Built: 1964 Zoning: multi

Legal Info

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

Project Type

Four Plex: 1

Construction

Block: 1

Const - Finish

Painted: 1 Stucco: 1

Roofing

Foam: 1

Floors

Laminate: 1

Sale Includes

Land & Building: 1

Income & Expenses

Owner Association: No Annual Ownr Asoc Fee: 0 Operating Exp: 1654 Other Income: 12000 Vacancy Allowance: 0.5 Adjusted Gross Inc: 34800

Pmt & Rate Info

Cap Rate: 4.56 Equity: 900000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0

Showing Notification Methods

Showing Service: Aligned Showings

Lockbox Type

Supra: 1 Combo: 1 See Private Remarks: 1

Community Features

No Pool: 1 Pool: 1

Heating

Forced Air: 1

Cooling

Central Air: 1

Exterior Amenities

Cable TV Available: 1

Tenant Pays

Gas: 1 Water: 1 Sewer: 1 Electricity: 1 Cable TV: 1

Appliances Included

Dishwasher: 1 Microwave: 1 Refrigerator: 1

Road Surface Type

Asphalt: 1

Source of Fincl Data

Owner: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Parking Features

Free: 1 >1 Space Per Unit: 1 Paved: 1 Add'l Parking Avail: 1

Electric

SRP: 1

Gas

SW Gas: 1

Owner Pays

Trash Collection: 1 Landscaping: 1

New Financing

Cash: 1 VA: 1 Conventional: 1 FHA: 1

Existing 1st Loan

Treat as Free&Clear: 1

Reports/Disclosures

Seller Prop Disc Stm: 1

Environmental

None: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

# 1 Bedroom Units: 1 Avg Rent: 1200 Avg SqFt: 700 # Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 1 Avg Rent: 1200 Avg SqFt: 700 # Baths: 1

3 Bedrooms Units

# 3 Bedroom Units: 2 Avg Rent: 1200 Avg SqFt: 850 # Baths: 2

4 Bedrooms Units

# 4 Bedroom Units: 2 Avg Rent: 1200 Avg SqFt: 850 # Baths: 2

Remarks Misc

Cross Street: Thomas & 38th St Directions: Heating North on 38th St, property is on the East side of Street. Geo Lat: 33.481347 Geo Lon: -111.999155

Income Expenses

Gross Annual Sch Inc: 57600 Net Operating Income: 41000

Property Features

Project Type: Four Plex Construction: Block Const - Finish: Painted; Stucco Roofing: Foam Floors: Laminate Sale Includes: Land & Building Community Features: No Pool; Pool Exterior Amenities: Cable TV Available Appliances Included: Refrigerator; Dishwasher; Microwave Heating: Forced Air Cooling: Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: >1 Space Per Unit; Add'l Parking Avail; Free; Paved Road Surface Type: Asphalt Owner Pays: Trash Collection; Landscaping Tenant Pays: Water; Sewer; Electricity; Gas; Cable TV Source of Fincl Data: Owner Lockbox Type: Supra; Combo; See Private Remarks Existing 1st Loan: Treat as Free&Clear New Financing: Cash; VA; FHA; Conventional Environmental: None

Listing Office: Keller Williams Integrity First

Last Updated: April - 17 - 2026