2925 N 38TH Street Phoenix, AZ $ 900,000
2925 N 38TH Street
$ 900,000
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2925 N 38TH Street

Phoenix, AZ, 85018
$ 900,000
Baths0.0

Monthly Estimate*

$ 5,541

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Studio

Multi-Family Home for sale in Phoenix, AZ

for $900,000. This home was built in 1964.

FULLY REMODELED UNITS! This multi-family property presents a strong, turnkey investment opportunity with immediate and reliable cash flow. The asset consists of four units, including two 2 bedroom 2 bath units and two 1 bedroom 1 bath units, offering a desirable unit mix that attracts a broad tenant base. Each unit has been thoughtfully upgraded with modern finishes, minimizing near term capital expenditures and reducing ongoing maintenance concerns. The 2 bedroom units average approximately 850 square feet, while the 1 bedroom units offer around 700 square feet, providing efficient and highly rentable layouts. The property delivers excellent income performance, with all units renting at 1,200 per month, creating consistent and predictable revenue. This makes it an ideal opportunity investors seeking stable cash flow, strong rental demand, and a low maintenance asset. With its combination of renovations, solid in place rents, and appealing unit mix, this property is well positioned for long term appreciation and continued income growth.

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Multi-Family Active

Price

$ 900,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 1,654

Style

Multiple Dwellings

Year Built

1964

Town/City

Phoenix

County/Region

Maricopa

MLS | Web ID

7013792

Features
General
Sewer Public Sewer
Heating Forced Air
Cooling Central Air
Roof Foam
Zoning multi
Construction Materials Painted Stucco Block
Year Built 1964
Electric SRP
Township 2N
Tax Year 2025
Ownership Fee Simple Fee Simple
Gross Income 34800.0
Community Features Pool No Pool
County Maricopa
Net Operating Income 41000.0
Operating Expense 1654.0
New Construction N
Property Type Multiple Dwellings
Attached Garage N
Subdivision Name CITRUS ACRES LOTS 1 THRU 20
Garage Y/N N
Status Active
Directions Heating North on 38th St property is on the East side of Street.
High School Camelback High School
City Phoenix
Disclosures Seller Prop Disc Stm
High School District Phoenix Union High School District
Open Parking Spaces 4.0
Number Of Units Total 10
Carport Y/N N
Elementary School Monte Vista Elementary School
Tax Annual Amount 1654.0
Middle/Junior High School Monte Vista Elementary School
Lease Renewal Y/N N
Additional Parcels Y/N Y
Lease Considered Y/N N
Rent Control Y/N N
Standard Status Active
Elementary School District Creighton Elementary District
Tax Lot 83
Cap Rate 4.56
New Financing: Conventional True
Senior Community N
New Financing: FHA True
New Financing: Cash True
New Financing: VA True
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Interior
Flooring Laminate
Air Conditioning Y/N Y
Heating Y/N Y
Total Baths 0
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Exterior
Parking Features Paved Free Add'l Parking Avail >1 Space Per Unit
Water Source City Franchise
Total Parking 10.0
Number of Buildings 1
Spa N
Lot Dimensions irr
Road Surface Type Asphalt
Covered Spaces 6.0
Crops Included Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 2925
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* Excluded Features
List By
Keller Williams Integrity First

Broker

heather@heatheropenshaw.com

Email

Affordability Calculator

$5,679
Per Month
98%
2%
0%
Monthly Principal & Interest
$5,541
Monthly Property Taxes
$138
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4327204 Elementary School
4327204 Middle School
Camelback High School High School
Pricing History
DatePricePrice ChangeDescription
4/14/2026$900,000 Listed Price

Map


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2925 N 38TH Street, Phoenix, AZ, 85018 is a Multi-Family Home for sale at $900,000. 2925 N 38TH Street is a studio with 0.0 baths and was built in 1964. The property's zip code is 85018 which is in Phoenix, AZ