3823 N 23RD Drive, Phoenix, AZ 85015
$899,900
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$899,900
Last Modified:
2/19/2026
Description
Words can't fully capture the value of this impeccably maintained four-plex, where pride of ownership is evident throughout. Ideally situated in a highly desirable rental community, this property offers both stability and long-term upside for any investor. Each of the four units features a 2-bedroom, 1-bath layout with 926 square feet, providing comfortable and functional living spaces that remain in high demand. Three units are currently occupied, delivering immediate cash flow, while Unit #4 is vacant and available to show.
Each unit includes French doors leading to a spacious front deck or patio area, creating a welcoming indoor-outdoor feel. The downstairs units enjoy private fenced yards, a rare amenity that enhances tenant appeal.
More Information MLS# 6986773
Contract Info
Ownership: Fee Simple
Current Price: $899,900
List Price: $899,900
Status: Active
List Date: 2026-02-19
Location, Tax & Legal
Assessor's Map #: 4
Legal Description (Abbrev): LOT 31 GERARDO PARK LOTS 1-10 MCR 004023
Assessor's Parcel #: 21
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 117000
Taxes: 2322
Legal: LOT 31 GERARDO PARK LOTS 1-10 MCR 004023
Marketing Name: N 23rd
House Number: 3823
Compass: N
Street Name: 23RD
St Suffix: Drive
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85015
Zip4: 5371
County Code: Maricopa
Subdivision: GERARDO PARK LOTS 1-10
Assessor Number: 110-04-021
Tax Year: 2025
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 10
Lot Size Dimensions: IRR
Total # of Units: 4
Elementary School District: Alhambra Elementary District
High School District: Phoenix Union High School District
Year Built: 1985
Zoning: Multi
Legal Info
Range: 2E
Section: 25
Township: 2N
Lot Number: 31
Project Type
Four Plex: 1
Construction
Wood Frame: 1
Const - Finish
Stucco: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 420
Annual Gas Exp: 0
Annual Ins Exp: 1643
Annual Land Lse Exp: 0
Annual Landscape Exp: 1200
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 2280
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 7865
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 39656.8
Total Monthly Rental Income: 3685
Pmt & Rate Info
Cap Rate: 4.02
Down Payment: 0
Equity: 899900
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Showing Service: Aligned Showings
Text: 1
Phone Call: 1
Lockbox Type
Combo: 1
Community Features
No Pool: 1
Heating
Heat Pump: 1
Electric: 1
Cooling
Electric: 1
Heat Pump: 1
Exterior Amenities
Desert Landscaping: 1
Fenced: 1
Curb(s) & Gutter(s): 1
Sidewalk(s): 1
Patio/Balcony: 1
Security Light(s): 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Fire Sprinklers: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Free: 1
>1 Space Per Unit: 1
Paved: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Electric: 1
Trash Collection: 1
New Financing
Cash: 1
VA: 1
Conventional: 1
No Carry: 1
1031 Exchange: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Assume - No Qualify: 1
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1230
Avg SqFt: 926
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: Indian School & 23rd Ave.
Geo Lat: 33.491748
Geo Lon: -112.109566
Income Expenses
Gross Annual Sch Inc: 41744
Net Operating Income: 36201
Property Features
Project Type: Four Plex
Construction: Wood Frame
Const - Finish: Stucco
Roofing: Composition
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Fenced; Curb(s) & Gutter(s); Sidewalk(s); Patio/Balcony; Security Light(s)
Interior Features: Unfurnished; Fire/Smoke Alarm(s); Fire Sprinklers
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal
Heating: Heat Pump
Cooling: Electric; Heat Pump
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: >1 Space Per Unit; Free; Paved
Road Surface Type: Asphalt
Owner Pays: Water; Electric; Trash Collection
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner
Showing Notification Methods: Text; Phone Call
Lockbox Type: Combo
Existing 1st Loan: Conventional
Existing 1st Loan Type: Fixed
Existing 1st Loan Terms: Assume - No Qualify; Not Applicable
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: Cash; VA; Conventional; No Carry; 1031 Exchange
Environmental: None
Listing Office:
eXp Realty
Last Updated: February - 19 - 2026
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