3702 E Polk Street, Phoenix, AZ 85008

$575,000
Property Type: Multiple Dwellings Status: Active
Current Price: $575,000 Last Modified: 7/21/2026

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
Assessor's Map #
14
Assessor's Parcel #
48
Add'l Parcels
No
Tax Municipality
Phoenix
Taxes
1080
Legal
Gateway Park PT TR 3 W 52 5' EX N 20
Marketing Name
4 On Polk

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.

Legal Info

Lot Number
UK

Income Expenses

Gross Annual Sch Inc
35100
Net Operating Income
29400

More Information

Showing Notification Methods

Showing Service
Aligned Showings

2 Bedroom Units

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

Project Type

Four Plex
Yes

Construction

Block
Yes

Const - Finish

Stucco
Yes

Roofing

Composition
Yes

Floors

Tile
Yes
Vinyl
Yes
Carpet
Yes

Sale Includes

Land & Building
Yes

Income & Expenses

Annual Elec Exp
0
Annual Gas Exp
0
Annual Ins Exp
1860
Annual Land Lse Exp
0
Annual Landscape Exp
0
Annual Legal & Acctg
0
Annual Maint Exp
0
Annual Mgmt Exp
0
Annual Trash Exp
0
Annual Wtr/Swr Exp
2760
Owner Association
No
Annual Ownr Asoc Fee
0
Annual PAD Fee
0
Annual Rplcmnt Rsrvs
0
Annual Other Expense
0
Operating Exp
5700
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
35100

Pmt & Rate Info

Cap Rate
5.11
Down Payment
0
Equity
575000
Down Payment %
0
Monthly Payments
0
Total Owed
0

Lockbox Type

None
Yes

Community Features

Other
Yes

Heating

Electric
Yes
Individual
Yes

Cooling

Heat Pump
Yes
Individual
Yes

Tenant Pays

Electricity
Yes

Appliances Included

Free-Standing Electric Oven
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

Electric

APS
Yes
Individual Meter
Yes

Gas

Other (See Remarks)
Yes

Owner Pays

Water
Yes
Sewer
Yes
Trash Collection
Yes

New Financing

Cash
Yes
Conventional
Yes

Reports/Disclosures

None
Yes

Environmental

None
Yes

Efficiency Units

Avg Rent
0

1 Bedroom Units

Avg Rent
0

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

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
Last Updated: July - 21 - 2026
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