3702 E Polk Street, Phoenix, AZ 85008

$525,000
Property Type: Multiple Dwellings Bedrooms: 8 Baths: 4 Status: Closed
Current Price: $525,000 Last Modified: 10/14/2026

Overview

Description

Exceptional investment opportunity to acquire a well-located four-unit apartment Ideally situated just minutes from Downtown Phoenix, Phoenix Sky Harbor International Airport, and major freeways, this property offers strong rental demand and outstanding value-add potential. The property features four 2-bedroom, 1-bathroom units, providing an attractive unit mix for tenants. Investors will appreciate the significant upside in rental income, with below-market rents offering the opportunity to increase cash flow over time. Recent capital improvements include a roof replaced approximately 6 years ago and two HVAC units replaced approximately 5 years ago, helping to minimize near-term maintenance costs. Each unit is individually metered for electricity, while low City of Phoenix water,

Supplements: sewer, Trash and taxes contribute to an efficient operating expense ratio. All facts and figures are approximate, buyer to verify to their own satisfaction.

Listing Details MLS# 7055439

Location, Tax & Legal

House Number
3702
Compass
E
Street Name
Polk
St Suffix
Street
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85008
Country
US
County Code
Maricopa
Assessor Number
121-14-048
Tax Year
2025

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
108 X 52
Year Built
1983
Uncvrd Parking Spcs
8
Total # of Units
4
# of Buildings
2
Zoning
R-3

Remarks Misc

Cross Street
37th St & Van Buren
Directions
From Van Buren & 37th St. North to Polk, Property is on the Northeast Corner.

Status Change Info

Off Market Date
2026-08-07
Under Contract Date
2026-07-23
Close of Escrow Date
2026-08-25

Legal Info

Lot Number
UK

More Information

2 Bedroom Units

# 2 Bedroom Units
4
Avg Rent
731
Avg SqFt
648
# Baths
Yes

Structure

Bedrooms Total
8
Bathrooms Total
4

Income Expenses

Gross Annual Sch Inc
35100
Net Operating Income
29400

Showing Notification Methods

Showing Service
Aligned Showings

Sold Info

Loan Type
Conventional
Loan Years
30
Payment Type
Fixed
Closing Cost Split
Normal - N
Buyer Concession $/%
%
Seller Concession to Buyer
3
Seller Concession $/%
$

Property Features

Project Type: Four Plex Construction: Block Const - Finish: Stucco Roofing: Composition Floors: Tile; Vinyl; Carpet Sale Includes: Land & Building Community Features: Other Appliances Included: Free-Standing Electric Oven; Refrigerator Heating: Individual Cooling: Heat Pump; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: APS; Individual Meter Gas: Other (See Remarks) Parking Features: >1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity Source of Fincl Data: Owner Lockbox Type: None New Financing: Cash; Conventional Environmental: None
IDX
Listing Office: Levrose Real Estate
Office Phone: 480-947-0600
Office Email: jrosenberg@levrose.com
Last Updated: October - 14 - 2026
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