3016 N 37 Street, Phoenix, AZ 85018

$1,995,624
Property Type: Multiple Dwellings Status: Active
Current Price: $1,995,624 Last Modified: 1/26/2026

Overview

Description

Rare 7-Unit Investment Opportunity in Prime East Phoenix. Fully occupied and located near 40th St & Thomas Rd in the desirable Citrus Acres / Arcadia-adjacent area. This up-and-coming corridor is surrounded by new construction, redevelopment, popular restaurants, shopping, and easy access to Arcadia, Biltmore, and major freeways. The property features clean, well-maintained, low-maintenance units with strong in-place income and future upside. Excellent long-term hold with value-add potential, including possible expansion or redevelopment of the lot (buyer to verify zoning). A solid, income-producing asset in one of Phoenix's most dynamic growth areas. This listing is part of a 21-unit package.

Listing Details MLS# 6974495

Location, Tax & Legal

House Number
3016
Compass
N
Street Name
37
St Suffix
Street
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85018
Country
US
County Code
Maricopa
Assessor Number
127-22-019-A
Tax Year
2024
Assessor's Map #
22
Assessor's Parcel #
19
Assessor Parcel Ltr
A
Add'l Parcels
Yes
Tax Municipality
Phoenix
Taxes
2210
Legal
LOT 14 CITRUS ACRES LOTS 1 THRU 20 MCR
Marketing Name
Citrus Acres

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
195' x 67'
Year Built
1945
Uncvrd Parking Spcs
7
Total # of Units
7
# of Buildings
Yes
Zoning
R-3

Remarks Misc

Cross Street
37th street and Thomas
Directions
North from Thomas on 37th street to property

Legal Info

Lot Number
14

Income Expenses

Gross Annual Sch Inc
90300
Net Operating Income
90300

More Information

Showing Notification Methods

Showing Service
No Showing Service Used

1 Bedroom Units

# 1 Bedroom Units
6
Avg Rent
1030
Avg SqFt
450
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
Yes
Avg Rent
1350
Avg SqFt
750
# Baths
Yes

Project Type

5 - 12 Units
Yes

Construction

Block
Yes

Const - Finish

Painted
Yes

Roofing

Composition
Yes

Floors

Tile
Yes

Sale Includes

Land & Building
Yes

Income & Expenses

Owner Association
No
Annual Ownr Asoc Fee
0
Operating Exp
2210
Other Income
0
Vacancy Allowance
0.03
Adjusted Gross Inc
88042.5

Pmt & Rate Info

Cap Rate
4.52
Equity
1995624
Down Payment %
20
Monthly Payments
1000
Total Owed
0

Lockbox Type

None
Yes

Community Features

See Remarks
Yes

Heating

Forced Air
Yes

Cooling

Ceiling Fan(s)
Yes
Electric
Yes

Exterior Amenities

Desert Landscaping
Yes
Fenced
Yes

Interior Features

Mini Blinds
Yes

Tenant Pays

Water
Yes
Sewer
Yes
Electricity
Yes
Trash Collection
Yes

Appliances Included

Built-In Electric Oven
Yes
Dishwasher
Yes
Disposal
Yes
Microwave
Yes
Refrigerator
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Owner
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

>1 Space Per Unit
Yes
Paved
Yes

Electric

APS
Yes

Gas

None
Yes

Owner Pays

Landscaping
Yes

New Financing

Cash
Yes
Conventional
Yes

Existing 1st Loan

Conventional
Yes

Reports/Disclosures

Seller Prop Disc Stm
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: 5 - 12 Units Construction: Block Const - Finish: Painted Roofing: Composition Floors: Tile Sale Includes: Land & Building Community Features: See Remarks Exterior Amenities: Desert Landscaping; Fenced Interior Features: Mini Blinds Appliances Included: Built-In Electric Oven; Refrigerator; Dishwasher; Disposal; Microwave Heating: Forced Air Cooling: Ceiling Fan(s); Electric Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: None Parking Features: >1 Space Per Unit; Paved Road Surface Type: Asphalt Owner Pays: Landscaping Tenant Pays: Water; Sewer; Electricity; Trash Collection Source of Fincl Data: Owner Lockbox Type: None Existing 1st Loan: Conventional New Financing: Cash; Conventional Environmental: None
IDX
Listing Office: Platinum Realty Group
Last Updated: January - 26 - 2026
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