4028 S 15TH Street, Phoenix, AZ 85040 (MLS# 6972367)

4028 S 15TH Street, Phoenix, AZ 85040

$1,230,000

Property Type: Multiple Dwellings Status: Active

Current Price: $1,230,000 Last Modified: 6/12/2026

Overview

Description

Turnkey investment opportunity with ALL units FULLY 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.

Listing Details MLS# 6972367

Location, Tax & Legal

House Number: 4028
Compass: S
Street Name: 15TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85040
Zip4: 1380
Country: US
County Code: Maricopa
Subdivision: NORMAN ACRES
Assessor Number: 113-27-020
Tax Year: 2024
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

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 13,572
Year Built: 1961
Uncvrd Parking Spcs: 6
Total # of Units: 9
# of Buildings: 5
Zoning: R-4
Elementary School District: Roosevelt Elementary District
High School District: Phoenix Union High School District
High School: South Mountain High School

Remarks Misc

Cross Street: BROADWAY & 16TH ST.

Legal Info

Township: 1N
Range: 3E
Section: 21
Lot Number: Yes

Income Expenses

Gross Annual Sch Inc: 96607
Net Operating Income: 133200

More Information

Showing Notification Methods

Showing Service: Aligned Showings
Text: Yes

1 Bedroom Units

# 1 Bedroom Units: 5
Avg Rent: 1550
Avg SqFt: 750
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 4
Avg Rent: 1767
Avg SqFt: 883
# Baths: 2

Project Type

5 - 12 Units: Yes

Other Type

House + Rental Units: Yes

Construction

Block: Yes
Wood Frame: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Composition: Yes

Floors

Ceramic Tile: Yes

Sale Includes

Land & Building: Yes
Personal Property: Yes

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: 10.79
Down Payment: 0
Equity: 1235000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

Supra: Yes
Other: Yes

Community Features

No Pool: Yes

Heating

Electric: Yes

Cooling

Central Air: Yes
Individual: Yes

Exterior Amenities

Desert Landscaping: Yes
Fenced: Yes
Security Light(s): Yes

Interior Features

Fire/Smoke Alarm(s): Yes

Tenant Pays

Cable TV: Yes

Appliances Included

Built-In Electric Oven: Yes
Microwave: Yes
Refrigerator: Yes
Washer/Dryer: Yes
W/D Hookup: Yes

Road Surface Type

Concrete: Yes
Gravel: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes
Free: Yes
>1 Space Per Unit: Yes
Assigned: Yes
See Remarks: Yes

Electric

SRP: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Electric: Yes
Trash Collection: Yes
See Remarks: Yes

New Financing

Cash: Yes
VA: Yes
Conventional: Yes
FHA: Yes
1031 Exchange: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 2nd Loan

Treat as Free&Clear: Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

Efficiency Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

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: June - 12 - 2026