3823 N 23RD Drive, Phoenix, AZ 85015 (MLS# 7056928)

3823 N 23RD Drive, Phoenix, AZ 85015

$799,900

Property Type: Multiple Dwellings Status: Active

Current Price: $799,900 Last Modified: 7/21/2026

Overview

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.

Listing Details MLS# 7056928

Location, Tax & Legal

House Number: 3823
Compass: N
Street Name: 23RD
St Suffix: Drive
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85015
Zip4: 5371
Country: US
County Code: Maricopa
Subdivision: GERARDO PARK LOTS 11-39
Assessor Number: 110-04-021
Tax Year: 2025
Assessor's Map #: 4
Legal Description (Abbrev): LOT 31 GERARDO PARK LOTS 11-39 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 Fourplex

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: IRR
Year Built: 1985
Uncvrd Parking Spcs: 10
Total # of Units: 4
# of Buildings: Yes
Zoning: Multi
Elementary School District: Alhambra Elementary District
High School District: Phoenix Union High School District

Remarks Misc

Cross Street: Indian School & 23rd Ave.

Legal Info

Township: 2N
Range: 2E
Section: 25
Lot Number: 31

Income Expenses

Gross Annual Sch Inc: 48000
Net Operating Income: 39096

More Information

Showing Notification Methods

Showing Service: Aligned Showings
Text: Yes
Email: Yes
Phone Call: Yes

2 Bedroom Units

# 2 Bedroom Units: 4
Avg Rent: 991.25
Avg SqFt: 926
# Baths: Yes

Project Type

Four Plex: Yes

Construction

Wood Frame: Yes

Const - Finish

Stucco: Yes

Roofing

Composition: Yes

Floors

Ceramic Tile: Yes

Sale Includes

Land & Building: Yes

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: 45600
Total Monthly Rental Income: 3800

Pmt & Rate Info

Cap Rate: 4.89
Down Payment: 0
Equity: 799900
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Heat Pump: Yes
Electric: Yes

Cooling

Electric: Yes
Heat Pump: Yes

Exterior Amenities

Desert Landscaping: Yes
Fenced: Yes
Curb(s) & Gutter(s): Yes
Sidewalk(s): Yes
Patio/Balcony: Yes
Security Light(s): Yes

Interior Features

Unfurnished: Yes
Fire/Smoke Alarm(s): Yes
Fire Sprinklers: Yes

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

Dishwasher: Yes
Disposal: Yes
Refrigerator: Yes
Free-Standing Range: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Free: Yes
>1 Space Per Unit: Yes
Paved: Yes

Electric

SRP: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Electric: Yes
Trash Collection: Yes

New Financing

Conventional: Yes
No Carry: Yes
1031 Exchange: Yes

Existing 1st Loan

Conventional: Yes

Existing 1st Loan Type

Fixed: Yes

Existing 1st Loan Terms

Not Applicable: 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

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: 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; Email; Phone Call Lockbox Type: None Existing 1st Loan: Conventional Existing 1st Loan Type: Fixed Existing 1st Loan Terms: 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: Conventional; No Carry; 1031 Exchange Environmental: None

Listing Office: eXp Realty

Last Updated: July - 21 - 2026