1845 E ILLINI Street Phoenix, AZ ^$ 509,900

1845 E ILLINI Street

^$ 509,900

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Recently Listed

1845 E ILLINI Street

Phoenix, AZ, 85040

^$ 509,900

Studio Baths0.0

Monthly Estimate*

^$ 3,140

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Studio

Multi-Family Home for sale in Phoenix, AZ

for $509,900. This home was built in 2025.

2025 Built duplex in Opportunity Zone; excellent work-force housing; fully rented and stabilized. Generates $36k income and a 7% CAP rate. Very good condition. Tenants pay on time, every time, and pay their elec. Landlord pays water/sewer. Also see 1728 next door. Can be purchased as a 4-plex. Tile floors, Samsung appliances, 2'' wood blinds, 42'' expresso cabinets. Lots of parking. Make money on Day 1.

Multi-Family Active

Price

^$ 509,900

Bedrooms

Studio

Property Type

Multi-Family

Taxes

^$ 4,228

Style

Multiple Dwellings

Year Built

2025

Town/City

Phoenix

County/Region

Maricopa

MLS | Web ID

7040008

Features

General

Sewer Public Sewer

Heating Electric

Cooling Central Air Ceiling Fan(s) Heat Pump Individual

Roof Composition

Zoning R3

Construction Materials Wood Frame Stucco

Year Built 2025

Electric SRP Individual Meter

Tax Year 2026

Ownership Fee Simple Fee Simple

Gross Income 44400.0

Community Features No Pool

County Maricopa

Net Operating Income 35673.0

Operating Expense 12968.0

Insurance Expense 888.0

New Construction N

Property Type Multiple Dwellings

Attached Garage N

MaintenanceExpense 0.0

Subdivision Name PROGRESS PLACE

Garage Y/N N

Status Active

High School South Mountain High School

City Phoenix

Disclosures None

High School District Phoenix Union High School District

Open Parking Spaces 2.0

Number Of Units Total 2

Carport Y/N N

Elementary School Percy L Julian School

Tax Annual Amount 4228.0

Electric Expense 0.0

Fuel Expense 0.0

Middle/Junior High School Percy L Julian School

Water Sewer Expense 516.0

Lease Renewal Y/N N

Additional Parcels Y/N N

Lease Considered Y/N N

Rent Control Y/N N

Standard Status Active

Elementary School District Roosevelt Elementary District

Tax Lot 14

Cap Rate 7.0

New Financing: Conventional True

Senior Community N

New Financing: Cash True

Interior

Flooring Tile Carpet

Air Conditioning Y/N Y

Heating Y/N Y

Total Baths 0

Exterior

Parking Features Attached Carport Add'l Parking Avail >1 Space Per Unit Carport

Water Source City Franchise

Total Parking 4.0

Number of Buildings 1

Spa N

Lot Dimensions 7353 SF

Road Surface Type Asphalt

Covered Spaces 2.0

Crops Included Y/N N

Irrigation Water Rights Y/N N

Internal Only

Street Number 1 1845

* Excluded Features

List By

Re/Max Excalibur

Broker

dean@deanselvey.com

Affordability Calculator

$3,492

Per Month

Monthly Principal & Interest: $3,140
Monthly Property Taxes: $352
Monthly Home Insurance: --

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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

Trends
Schools

Multi-family listings in Phoenix, AZ

Average List Price ^$1,145,172

Percent of Sale Price 125%

About Phoenix, AZ

1,596,463 Population

20% Since 2002

^$51,132 Median Income

34.66 Median Age

32% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

4328234 Elementary School

4327831 Middle School

South Mountain High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
6/11/2026	$509,900		Listed Price

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1845 E ILLINI Street, Phoenix, AZ, 85040 is a Multi-Family Home for sale at $509,900. 1845 E ILLINI Street is a studio with 0.0 baths and was built in 2025. The property's zip code is 85040 which is in Phoenix, AZ

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: 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.

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Arizona Regional Multiple Listing Service, Inc. Real Estate listings held by brokerage firms (licensees) other than Weichert Realtors are marked with the ARMLS logo and detailed information about them includes the name of the listing brokers.

All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.

The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data is updated as of 6/12/2026.

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1845 E ILLINI Street

Multi-Family Home for sale in Phoenix, AZ

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