3139 N 40TH Street, Phoenix, AZ 85018 (MLS# 6979920)

3139 N 40TH Street, Phoenix, AZ 85018

$2,600,000

Property Type: Multiple Dwellings Status: Active

Current Price: $2,600,000 Last Modified: 2/05/2026

Overview

Description

Rare investment opportunity in Arcadia Lite! Flexible 5-unit residential compound ideal for residential assisted living, adult care, sober living, transitional housing, or premium rental income with high ROI! Nearly ½-acre property w/ 3BR/2BA single-family+ 4-plex w/ 1BR/1BA units, each w/ private yard! Excellent setup for assisted living or adult care model w/ multiple living spaces & inviting amenities for high quality of life. True turnkey asset w/ full cosmetic remodel in 2022. Low operating expenses & no major capital outlay required to create immediate revenue opportunity. Desirable outdoor living w/ pool, hot tubs, bocce ball and lots of green space. Block wall perimeter with controlled access for privacy & security. Expanded income options w/ minimal modifications too!

Supplements: remodel completed in 2022 makes this a true turnkey asset, reducing near-term capital expenses and positioning the property for immediate operation. The grounds are designed for lifestyle and engagementan important value driver for both premium rentals and care-related housingfeaturing putt-putt golf and bocce ball. A private pool is secured and ... (Read more)

Listing Details MLS# 6979920

Location, Tax & Legal

House Number: 3139
Compass: N
Street Name: 40TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Country: US
County Code: Maricopa
Subdivision: PALO ALTO PARK
Assessor Number: 127-15-048
Tax Year: 2025
Assessor's Map #: 15
Legal Description (Abbrev): LOT 10 PALO ALTO PARK MCR 004431
Assessor's Parcel #: 48
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 111000
Taxes: 2239
Legal: LOT 10 PALO ALTO PARK MCR
Marketing Name: Arcadia Groves on 40th

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 0 x 0
Year Built: 1955
Uncvrd Parking Spcs: 8
Total # of Units: 5
# of Buildings: 2
Zoning: R-3
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District

Remarks Misc

Cross Street: 44th St Thomas Rd
Directions: West on Thomas Rd from 44th Street, then right on 40th Street. Property on right before Osborn Rd, between Cheery Lynn Rd and E Flower Street

Legal Info

Township: 2N
Range: 4E
Section: 30
Lot Number: 10

Income Expenses

Gross Annual Sch Inc: 288000
Net Operating Income: 133548.24

More Information

Showing Notification Methods

Showing Service: Aligned Showings

1 Bedroom Units

# 1 Bedroom Units: 4
Avg SqFt: 621
# Baths: Yes
Avg Rent: 0

3 Bedrooms Units

# 3 Bedroom Units: Yes
Avg Rent: 24000
Avg SqFt: 1682
# Baths: 2

Project Type

5 - 12 Units: Yes

Other Type

House + Rental Units: Yes
Packaged Offering: Yes

Construction

Block: Yes
Adobe: Yes

Const - Finish

Painted: Yes
Brick Veneer: Yes

Roofing

Composition: Yes
Tile: Yes
Foam: Yes

Floors

Ceramic Tile: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Annual Elec Exp: 6991.68
Annual Gas Exp: 896.4
Annual Landscape Exp: 3000
Annual Maint Exp: 2100
Annual Mgmt Exp: 7488
Annual Trash Exp: 551.88
Annual Wtr/Swr Exp: 7434.24
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 30701.2
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 273600

Pmt & Rate Info

Cap Rate: 5.14
Equity: 1800000
1st Encumbrance: 800000
Down Payment %: 0
Monthly Payments: 8000
Total Owed: 800000

Payment Includes

Principal: Yes

Lockbox Type

None: Yes

Community Features

Pool: Yes
Other: Yes
See Remarks: Yes

Heating

Electric: Yes

Cooling

Electric: Yes

Exterior Amenities

Landscape Water System: Yes

Tenant Pays

None: Yes

Appliances Included

Refrigerator: Yes
Built-In Range: Yes
Washer/Dryer: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Projected Proforma: Yes

Water Source

City Franchise: Yes
Master Meter: Yes

Sewer

Sewer - Public: Yes

Parking Features

<1 Space Per Unit: Yes

Electric

APS: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Sewer: Yes
Electric: Yes
Gas: Yes
Trash Collection: Yes
Landscaping: Yes
Pool Maintenance: Yes

New Financing

Cash: Yes
VA: Yes
Conventional: Yes
No Carry: Yes

Reports/Disclosures

Seller Prop Disc Stm: Yes

Environmental

None: Yes

Efficiency Units

Avg Rent: 0

2 Bedroom Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 5 - 12 Units Other Type: House + Rental Units; Packaged Offering Construction: Block; Adobe Const - Finish: Painted; Brick Veneer Roofing: Composition; Tile; Foam Floors: Ceramic Tile Sale Includes: Land & Building Payment Includes: Principal Community Features: Pool; Other; See Remarks Exterior Amenities: Landscape Water System Appliances Included: Built-In Range; Refrigerator; Washer/Dryer Cooling: Electric Water Source: City Franchise; Master Meter Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: <1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Water; Electric; Gas; Trash Collection; Landscaping; Pool Maintenance Tenant Pays: None Source of Fincl Data: Projected Proforma Lockbox Type: None New Financing: Cash; VA; Conventional; No Carry Environmental: None

Listing Office: eXp Realty

Last Updated: February - 05 - 2026