4028 S 15TH Street, Phoenix, AZ 85040
$1,250,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$1,250,000
Last Modified:
2/14/2026
Description
Turnkey investment opportunity with ALL 9 units ALREADY OCCUPIED! featuring a fully remodeled multi-building INCOME property with modern finishes throughout. Gated entry with remote access, plus ample parking with both covered and uncovered spaces. Well-maintained and ready for continued cash flow. Building One includes three apartments: one 2 bed/2 bath and two 1 bed/1 bath units, all with kitchens and W/D hookups. Buildings Two and Three offer four identical 1 bed/1 bath units with living rooms, kitchens, W/D hookups, and private back patioS! The property also includes two newer mobile homes with primary bedrooms, en-suite baths, and W/D hookups.
More Information MLS# 6972367
Contract Info
Ownership: Fee Simple
Current Price: $1,250,000
List Price: $1,250,000
Status: Active
List Date: 2026-01-21
Location, Tax & Legal
Assessor's Map #: 27
Legal Description (Abbrev): NORMAN ACRES LOT 1 BLK 2 S 70'
Assessor's Parcel #: 20
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 115300
Taxes: 686
Legal: NORMAN ACRES LOT 1 BLK 2 S 70'
Marketing Name: Norman Acres
House Number: 4028
Compass: S
Street Name: 15TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85040
Zip4: 1380
County Code: Maricopa
Subdivision: NORMAN ACRES
Assessor Number: 113-27-020
Tax Year: 2024
General Property Description
# of Buildings: 5
Uncvrd Parking Spcs: 6
Lot Size Dimensions: 13,572
Total # of Units: 9
Elementary School District: Roosevelt Elementary District
High School District: Phoenix Union High School District
High School: South Mountain High School
Year Built: 1961
Zoning: R-4
Legal Info
Range: 3E
Section: 21
Township: 1N
Lot Number: 1
Project Type
5 - 12 Units: 1
Other Type
House + Rental Units: 1
Construction
Block: 1
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Personal Property: 1
Income & Expenses
Annual Elec Exp: 14829.6
Annual Ins Exp: 4980
Annual Landscape Exp: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 6000
Annual Wtr/Swr Exp: 8076
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Other Expense: 1442.88
Operating Exp: 36014.48
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 96607
Total Monthly Rental Income: 13801
Pmt & Rate Info
Cap Rate: 10.66
Down Payment: 0
Equity: 1250000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Text: 1
Lockbox Type
Supra: 1
Other: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Central Air: 1
Individual: 1
Exterior Amenities
Desert Landscaping: 1
Fenced: 1
Security Light(s): 1
Interior Features
Fire/Smoke Alarm(s): 1
Tenant Pays
Cable TV: 1
Appliances Included
Built-In Electric Oven: 1
Microwave: 1
Refrigerator: 1
Washer/Dryer: 1
W/D Hookup: 1
Road Surface Type
Concrete: 1
Gravel: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
Free: 1
>1 Space Per Unit: 1
Assigned: 1
See Remarks: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Electric: 1
Trash Collection: 1
See Remarks: 1
New Financing
Cash: 1
VA: 1
Conventional: 1
FHA: 1
1031 Exchange: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 5
Avg Rent: 1550
Avg SqFt: 750
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1767
Avg SqFt: 883
# Baths: 2
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: BROADWAY & 16TH ST.
Geo Lat: 33.409289
Geo Lon: -112.0497
Income Expenses
Gross Annual Sch Inc: 96607
Net Operating Income: 133200
Property Features
Project Type: 5 - 12 Units
Other Type: House + Rental Units
Construction: Block; Wood Frame
Const - Finish: Painted; Stucco
Roofing: Composition
Floors: Ceramic Tile
Sale Includes: Land & Building; Personal Property
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Fenced; Security Light(s)
Interior Features: Fire/Smoke Alarm(s)
Appliances Included: Built-In Electric Oven; Refrigerator; Microwave; Washer/Dryer; W/D Hookup
Cooling: Individual; Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: Carport; >1 Space Per Unit; Assigned; Free; See Remarks
Road Surface Type: Gravel; Concrete
Owner Pays: Water; Electric; Trash Collection; See Remarks
Tenant Pays: Cable TV
Source of Fincl Data: Owner
Showing Notification Methods: Text
Lockbox Type: Supra; Other
Existing 1st Loan: Treat as Free&Clear
Existing 2nd Loan: Treat as Free&Clear
New Financing: Cash; VA; FHA; Conventional; 1031 Exchange
Environmental: None
Listing Office:
Valley Views RE
Last Updated: February - 14 - 2026
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