2440 E WALTANN Lane, Phoenix, AZ 85032

$739,000
Property Type: Multiple Dwellings Status: Active
Current Price: $739,000 Last Modified: 4/22/2026

Overview

Description

This 4-unit property in Phoenix presents a compelling opportunity for the owner-occupant or buy-and-hold investor looking to enter or expand in one of the Valley's most resilient rental markets. The offering features a desirable unit mix of three 2-bedroom residences and one spacious 3-bedroom unit, ideal for the house hacker looking to offset their mortgage while building long-term equity. The property is move-in ready with meaningful updates already in place, allowing an investor to step in with confidence while still having a clear runway to add value through strategic improvements and rental rate optimization.

Listing Details MLS# 7017582

Location, Tax & Legal

House Number
2440
Compass
E
Street Name
WALTANN
St Suffix
Lane
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85032
Zip4
3636
County Code
Maricopa
Subdivision
GREENLEY PLACE
Assessor Number
214-40-193
Tax Year
2025
Assessor's Map #
40
Legal Description (Abbrev)
LOT 2 GREENLEY PLACE MCR 023442
Assessor's Parcel #
193
Add'l Parcels
No
Tax Municipality
Phoenix
Census Tract
103306
Taxes
1479
Legal
LOT 2 GREENLEY PLACE MCR 023442
Marketing Name
2440 E Waltann

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
Normal
Year Built
1982
Uncvrd Parking Spcs
3
Total # of Units
4
# of Buildings
Yes
Zoning
R-3
Elementary School District
Paradise Valley Unified District
High School District
Paradise Valley Unified District

Remarks Misc

Cross Street
Greenway and 25th St

Legal Info

Township
3N
Range
3E
Section
2
Lot Number
2

Income Expenses

Gross Annual Sch Inc
55000
Net Operating Income
40000

More Information

Showing Notification Methods

Showing Service
No Showing Service Used

2 Bedroom Units

# 2 Bedroom Units
3
Avg Rent
1200
Avg SqFt
786
# Baths
Yes

3 Bedrooms Units

# 3 Bedroom Units
Yes
Avg Rent
1200
Avg SqFt
912
# Baths
2

Project Type

Four Plex
Yes

Construction

Wood Frame
Yes

Const - Finish

Painted
Yes
Stucco
Yes

Roofing

Composition
Yes
Tile
Yes

Floors

Tile
Yes
Vinyl
Yes

Sale Includes

Land & Building
Yes

Income & Expenses

Owner Association
Yes
Annual Ownr Asoc Fee
2160
Operating Exp
3639
Other Income
0
Vacancy Allowance
0.1
Adjusted Gross Inc
49500

Pmt & Rate Info

Cap Rate
5.41
Equity
739000
Down Payment %
0
Monthly Payments
0
Total Owed
0

Lockbox Type

None
Yes

Community Features

No Pool
Yes

Heating

Central
Yes

Cooling

Central Air
Yes

Exterior Amenities

Patio/Balcony
Yes

Tenant Pays

Electricity
Yes

Appliances Included

Dishwasher
Yes
Disposal
Yes
Microwave
Yes
Refrigerator
Yes
Built-In Range
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Projected Proforma
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

Carport
Yes
>1 Space Per Unit
Yes

Electric

APS
Yes

Gas

None
Yes

Owner Pays

Water
Yes
Trash Collection
Yes

New Financing

Cash
Yes
Cash to Loan
Yes
VA
Yes
Conventional
Yes
FHA
Yes
1031 Exchange
Yes

Reports/Disclosures

None
Yes

Environmental

None
Yes

Efficiency Units

Avg Rent
0

1 Bedroom Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: Four Plex Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Composition; Tile Floors: Tile; Vinyl Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Patio/Balcony Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal; Microwave Heating: Central Cooling: Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: None Parking Features: Carport; >1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity Source of Fincl Data: Projected Proforma Lockbox Type: None New Financing: Cash; Cash to Loan; VA; FHA; Conventional; 1031 Exchange Environmental: None
IDX
Listing Office: Orion Investment Real Estate
Last Updated: April - 22 - 2026
Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.