4324 N 21st Street, Phoenix, AZ 85016 (MLS# 7072919)

4324 N 21st Street, Phoenix, AZ 85016

$2,800,000

Property Type: Multiple Dwellings Bedrooms: 10 Baths: 8 Status: Active

Current Price: $2,800,000 Last Modified: 8/28/2026

Overview

Description

A rare multifamily investment opportunity in the heart of Phoenix, The Casitas consists of three separate parcels totaling 31,787 square feet near 21st Street and Camelback Road. The property features seven residences across six buildings, including five detached units and one duplex, with studio, one-, two- and three-bedroom layouts. Renovated down to the studs in 2022, each unit offers modern interiors, updated systems, private outdoor space and individually metered utilities. Gated parking and low-maintenance grounds complete the property. Conveniently located near the Biltmore, Arcadia, The Esplanade, shopping, dining, employment centers and major freeways, this turnkey investment provides strong rental income with compelling long-term potential.

Listing Details MLS# 7072919

Location, Tax & Legal

House Number: 4324
Compass: N
Street Name: 21st
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85016
Country: US
County Code: Maricopa
Assessor Number: 163-31-038
Tax Year: 2025
Assessor's Map #: 31
Assessor's Parcel #: 38
Add'l Parcels: Yes
Tax Municipality: Phoenix
Taxes: 7769
Legal: N 64F FOL DESC PAR LT 2 BK 3HOMESIDE AC EX S 162F & EX W 144.10F P/F 2017-0716805
Marketing Name: 21st Casitas

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 198' x 156'
Year Built: 1955
Uncvrd Parking Spcs: 10
Total # of Units: 7
# of Buildings: 6
Zoning: R-3 MultiFamily
Elementary School District: Madison Elementary District
High School District: Phoenix Union High School District
Elementary School: Madison #1 Elementary School
Jr. High School: Madison Park School
High School: Camelback High School

Remarks Misc

Directions: East on Indian School Rd, North on 21st st, property on west side of street.

Legal Info

Lot Number: 2

Efficiency Units

# Efficiency Units: Yes
Avg SqFt: 500
# Baths: Yes
Avg Rent: 0

More Information

1 Bedroom Units

# 1 Bedroom Units: 4
Avg Rent: 1675
Avg SqFt: 700
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: Yes
Avg Rent: 2250
Avg SqFt: 890
# Baths: Yes

3 Bedrooms Units

# 3 Bedroom Units: Yes
Avg Rent: 2650
Avg SqFt: 1180
# Baths: 2

Structure

Bedrooms Total: 10
Bathrooms Total: 8

Income Expenses

Net Operating Income: 130091

Showing Notification Methods

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

Project Type

5 - 12 Units: Yes

4 Bedrooms Units

Avg Rent: 0

Construction

Block: Yes

Const - Finish

Stucco: Yes

Roofing

Composition: Yes

Floors

Laminate: Yes
Tile: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Annual Ins Exp: 5000
Annual Landscape Exp: 1800
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 14569
Other Income: 5460
Vacancy Allowance: 0.03
Adjusted Gross Inc: 5296.2
Total Monthly Rental Income: 11600

Pmt & Rate Info

Cap Rate: 4.65
Equity: 2800000
Down Payment %: 100
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Ceiling: Yes
Heat Pump: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes
Electric: Yes

Exterior Amenities

Landscape Water System: Yes
Fenced: Yes
Cable TV Available: Yes

Interior Features

Unfurnished: Yes
Vertical Blinds: Yes

Tenant Pays

Gas: Yes
Electricity: Yes

Appliances Included

Dishwasher: Yes
Microwave: Yes
Refrigerator: Yes
Free-Standing Range: Yes
Washer/Dryer: Yes
W/D Hookup: Yes

Road Access Type

City Street: 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/Unit: Yes
Garage Door Opener: Yes
Attached Garage: Yes
Off Street: Yes

Electric

SRP: Yes
Individual Meter: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes

New Financing

Cash: Yes
Conventional: Yes
1031 Exchange: Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

Property Features

Project Type: 5 - 12 Units Construction: Block Const - Finish: Stucco Roofing: Composition Floors: Laminate; Tile Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Landscape Water System; Fenced; Cable TV Available Interior Features: Unfurnished; Vertical Blinds Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer; W/D Hookup Heating: Ceiling; Heat Pump Cooling: Ceiling Fan(s); Electric; Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: SRP; Individual Meter Gas: SW Gas Parking Features: 1 Space/Unit; Garage Door Opener; Free; Attached Garage; Off Street Road Access Type: City Street Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity; Gas Source of Fincl Data: Owner Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None New Financing: Cash; Conventional; 1031 Exchange Environmental: None

Documents

Brochure ›

Listing Office: Real Broker

Last Updated: August - 28 - 2026