1321 N 48TH Place, Phoenix, AZ 85008

$930,000
Property Type: Multiple Dwellings Status: Active
Current Price: $930,000 List Date: 2/24/2026 Last Modified: 4/07/2026

Overview

Description

This high-yield, well-maintained fourplex in Phoenix is perfectly situated in a quiet cul-de-sac, just south of McDowell & 48th St. Featuring four 2-bedroom, 1-bathroom units, this turnkey property boasts durable block construction and ceramic tile flooring, along with several recent updates. With convenient access to major freeways, supermarket, stores, and located just across from elementary school, these units are highly desirable and in great demand. Units 1 and 2 have just been remodeled/ upgraded. Units 3 and 4 have long-term tenants. Roofing replaced in 2017. All water heaters are newer (2021-2025). Each unit has its own private patio as well as washer/dryer hook-ups. Separate storage room outside unit 4. Amazing 6.5% CAP!

Listing Details MLS# 6988566

Location, Tax & Legal

House Number
1321
Compass
N
Street Name
48TH
St Suffix
Place
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85008
Zip4
5926
County Code
Maricopa
Subdivision
PALOMINO ESTATES
Assessor Number
125-13-092-A
Tax Year
2025
Assessor's Map #
13
Assessor's Parcel #
92
Assessor Parcel Ltr
A
Add'l Parcels
No
Tax Municipality
Phoenix
Census Tract
111202
Taxes
1184
Legal
PALOMINO ESTATES PT OF LOTS 48 & 47 BEG NW COR LOT 48 W 47' S 12D19' E 118.86' TH ELY ALG CURVE 28
Marketing Name
4 Plex

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
8640
Year Built
1960
Uncvrd Parking Spcs
5
Total # of Units
4
# of Buildings
Yes
Zoning
Multi-Family
Elementary School District
Balsz Elementary District
High School District
Buckeye Union High School District
Elementary School
Brunson-Lee Elementary School
Jr. High School
Pat Tillman Middle School
High School
Buckeye Union High School

Remarks Misc

Cross Street
48th St & McDowell
Directions
Head East on McDowell, South on 48th St, East on Culver, North on 48th Place.

Legal Info

Township
1N
Range
4E
Section
5
Lot Number
47

Showing Notification Methods

Showing Service
Aligned Showings
Text
Yes
Email
Yes
Phone Call
Yes

More Information

2 Bedroom Units

# 2 Bedroom Units
4
Avg Rent
1406
Avg SqFt
700
# Baths
Yes

Project Type

Four Plex
Yes

Construction

Block
Yes

Const - Finish

Painted
Yes

Roofing

Composition
Yes

Floors

Ceramic Tile
Yes

Sale Includes

Land & Building
Yes

Income & Expenses

Annual Elec Exp
0
Annual Gas Exp
0
Annual Ins Exp
1600
Annual Land Lse Exp
0
Annual Landscape Exp
500
Annual Legal & Acctg
0
Annual Maint Exp
0
Annual Mgmt Exp
0
Annual Trash Exp
0
Annual Wtr/Swr Exp
4100
Owner Association
No
Annual Ownr Asoc Fee
0
Annual PAD Fee
0
Annual Rplcmnt Rsrvs
0
Annual Other Expense
0
Operating Exp
7384
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
0

Pmt & Rate Info

Down Payment
0
Equity
930000
Down Payment %
0
Monthly Payments
0
Total Owed
0
Assessment Balance
0

Lockbox Type

Combo
Yes

Community Features

No Pool
Yes

Heating

Electric
Yes

Cooling

Ceiling Fan(s)
Yes
Central Air
Yes
Electric
Yes
Heat Pump
Yes
Individual
Yes

Exterior Amenities

Desert Landscaping
Yes
Fenced
Yes
Patio/Balcony
Yes
Separate Storage
Yes
Security Light(s)
Yes

Interior Features

Unfurnished
Yes
Fire/Smoke Alarm(s)
Yes
Mini Blinds
Yes

Tenant Pays

Gas
Yes
Electricity
Yes
Cable TV
Yes

Appliances Included

Free-Standing Electric Oven
Yes
Microwave
Yes
Refrigerator
Yes
Free-Standing Range
Yes
W/D Hookup
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Other (See Remarks)
Yes

Road Responsibility

City Maintained Road
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

>1 Space Per Unit
Yes
Off Street
Yes

Electric

SRP
Yes

Gas

SW Gas
Yes

Owner Pays

Water
Yes
Sewer
Yes
Trash Collection
Yes

New Financing

Cash
Yes
Conventional
Yes
FHA
Yes
No Carry
Yes

Special

Owner/Agent
Yes

Existing 1st Loan

Conventional
Yes

Existing 1st Loan Type

Not Applicable
Yes

Existing 1st Loan Terms

Non Assumable
Yes

Existing 2nd Loan

Treat as Free&Clear
Yes

Existing 2nd Loan Type

Not Applicable
Yes

Existing 2nd Loan Terms

Not Applicable
Yes

Existing 3rd Loan

Treat as Free&Clear
Yes

Existing 3rd Loan Type

Not Applicable
Yes

Reports/Disclosures

Seller Prop Disc Stm
Yes

Existing 3rd Loan Terms

Not Applicable
Yes

Environmental

None
Yes

Existing Othr Ln Trm

Not Applicable
Yes

Efficiency Units

Avg Rent
0

1 Bedroom Units

Avg Rent
0

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: Four Plex Construction: Block Const - Finish: Painted Roofing: Composition Floors: Ceramic Tile Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Desert Landscaping; Fenced; Patio/Balcony; Separate Storage; Security Light(s) Interior Features: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds Appliances Included: Free-Standing Electric Oven; Free-Standing Range; Refrigerator; Microwave; W/D Hookup Cooling: Ceiling Fan(s); Electric; Heat Pump; Individual; Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: >1 Space Per Unit; Off Street Road Surface Type: Asphalt Road Responsibility: City Maintained Road Owner Pays: Water; Trash Collection Tenant Pays: Electricity; Gas; Cable TV Source of Fincl Data: Other (See Remarks) Special: Owner/Agent Showing Notification Methods: Text; Email; Phone Call Lockbox Type: Combo Existing 1st Loan: Conventional Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Non Assumable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Cash; FHA; Conventional; No Carry Environmental: None
Listing Office: HomeSmart
IDX
Last Updated: April - 07 - 2026
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