3234 N 38th Street, Phoenix, AZ 85018 (MLS# 5468826)

3234 N 38th Street, Phoenix, AZ 85018

$2,600,000

Virtual Tour

http://www.propertypanorama.com/instaview/armls/5468826

Property Type: Multiple Dwellings Status: Closed

Current Price: $2,600,000 Last Modified: 3/18/2026

Overview

Description

Built in 1962, Trinity Arcadia Apartments was fully remodeled and repositioned in 2015. Interior property upgrades include in-suite laundry, stainless-steel appliance package, double stainless steel sinks with garbage disposal and retractable multi-setting faucet, upgraded countertops with porcelain tile backsplash, stained concrete floors, porcelain tile shower surrounds with new fixtures, premium lighting, and low-flow toilets. The revamped exterior features a manicured courtyard featuring a stainless steel barbecue grill, steel pergola, swimming pool, pet friendly accommodations, keyed entry pedestrian gates and covered parking. Trinity Arcadia is centrally located in the Arcadia-area of Phoenix near trendy Arcadia restaurants, Biltmore shopping, and the Camelback Corridor.

Listing Details MLS# 5468826

Location, Tax & Legal

Map Code/Grid: P35
House Number: 3234
Compass: N
Street Name: 38th
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Country: US
County Code: Maricopa
Subdivision: CITRUS ACRES LOTS 21-60
Assessor Number: 127-23-038
Tax Year: 2015
Assessor's Map #: 23
Assessor's Parcel #: 38
Add'l Parcels: No
Tax Municipality: Phoenix
Taxes: 8682
Legal: Lot 44, of CITRUS ACRES, according to the plat of record, Maricopa County, Arizona, in Book 17 of Maps, page 29.
Marketing Name: Trinity Arcadia

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 134.32 x 301.92
Year Built: 1962
Uncvrd Parking Spcs: 2
Total # of Units: 16
# of Buildings: 3
Zoning: R-3, Phoenix
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District

Remarks Misc

Cross Street: 44th Street / Indian School Road
Directions: From 44th Street and Indian School Road, head west to 38th Street. Turn Left and head South on 38th Street to Property on West (Right-Hand) side of 38th Street.

Status Change Info

Off Market Date: 2016-11-02
Under Contract Date: 2016-09-13
Close of Escrow Date: 2016-11-04

Legal Info

Township: 2N
Range: 3E
Section: 25
Lot Number: 44

More Information

Income Expenses

Gross Annual Sch Inc: 241068
Net Operating Income: 170258

Efficiency Units

# Efficiency Units: 2
Avg Rent: 800
Avg SqFt: 240
# Baths: 2

2 Bedroom Units

# 2 Bedroom Units: 13
Avg Rent: 1308
Avg SqFt: 1000
# Baths: 26

3 Bedrooms Units

# 3 Bedroom Units: Yes
Avg Rent: 1485
Avg SqFt: 1285
# Baths: 2

Sold Info

Loan Type: Conventional
Loan Years: 10
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

13 - 24 Units: Yes

Construction

Block: Yes
Wood Frame: Yes
Slump Block: Yes

Const - Finish

Painted: Yes
Brick Veneer: Yes

Roofing

Composition: Yes
Tile: Yes

Floors

Concrete: Yes
Vinyl: Yes

Sale Includes

Land & Building: Yes
Pool Equipment: Yes

Income & Expenses

Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 3475
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 7200
Annual Mgmt Exp: 16013
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 3200
Annual Other Expense: 23887
Other Income: 3700
Vacancy Allowance: 0.05
Adjusted Gross Inc: 232529.6
Total Monthly Rental Income: 20089

Pmt & Rate Info

Cap Rate: 6.02
Down Payment: 2830000
Equity: 2830000
Down Payment %: 100
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Community Features

Pool: Yes
Barbecue: Yes

Heating

Electric: Yes
Individual: Yes

Cooling

Ceiling Fan(s): Yes
Electric: Yes
Individual: Yes

Exterior Amenities

Landscape Water System: Yes
Green Landscaping: Yes
Desert Landscaping: Yes
Fenced: Yes
Cable TV Available: Yes
Patio/Balcony: Yes
Security Light(s): Yes

Interior Features

Fire/Smoke Alarm(s): Yes
Vertical Blinds: Yes
Mini Blinds: Yes
Breakfast Bar: Yes

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

Dishwasher: Yes
Disposal: Yes
Refrigerator: Yes
Free-Standing Range: Yes
Washer/Dryer: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes
Master Meter: Yes

Sewer

Sewer - Public: Yes
Sewer-In & Connected: Yes

Parking Features

Carport: Yes
Free: Yes
<1 Space Per Unit: Yes
Paved: Yes
Add'l Parking Avail: Yes
Assigned: Yes

Electric

SRP: Yes
Individual Meter: Yes

Gas

None: Yes

Owner Pays

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

New Financing

Conventional: Yes
No Carry: Yes
1031 Exchange: Yes

Special

Owner/Agent: Yes

Existing 1st Loan

Private: Yes

Existing 1st Loan Type

Fixed: Yes

Existing 1st Loan Terms

Non Assumable: Yes
Interest Only: Yes

Existing 2nd Loan

Treat as Free&Clear: Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Treat as Free&Clear: Yes

Existing 3rd Loan Type

Not Applicable: Yes

Reports/Disclosures

None: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

1 Bedroom Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 13 - 24 Units Construction: Block; Wood Frame; Slump Block Const - Finish: Painted; Brick Veneer Roofing: Composition; Tile Floors: Concrete; Vinyl Sale Includes: Land & Building; Pool Equipment Community Features: Pool; Barbecue Exterior Amenities: Landscape Water System; Green Landscaping; Desert Landscaping; Fenced; Cable TV Available; Patio/Balcony; Security Light(s) Interior Features: Fire/Smoke Alarm(s); Vertical Blinds; Mini Blinds; Breakfast Bar Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Washer/Dryer Heating: Individual Cooling: Ceiling Fan(s); Electric; Individual Water Source: City Franchise; Master Meter Sewer: Sewer - Public; Sewer-In & Connected Electric: SRP; Individual Meter Gas: None Parking Features: Carport; <1 Space Per Unit; Add'l Parking Avail; Assigned; Free; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping; Pool Maintenance Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Special: Owner/Agent Existing 1st Loan: Private Existing 1st Loan Type: Fixed Existing 1st Loan Terms: Non Assumable; Interest Only Existing 2nd Loan: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Conventional; No Carry; 1031 Exchange Environmental: None

Listing Office: Vestis Group

Last Updated: March - 18 - 2026