3139 N 40TH Street, Phoenix, AZ 85018 (MLS# 6979920)

3139 N 40TH Street, Phoenix, AZ 85018

$2,600,000

Property Type: Multiple Dwellings Status: Active

Current Price: $2,600,000 Last Modified: 2/05/2026

Description

Rare investment opportunity in Arcadia Lite! Flexible 5-unit residential compound ideal for residential assisted living, adult care, sober living, transitional housing, or premium rental income with high ROI! Nearly ½-acre property w/ 3BR/2BA single-family+ 4-plex w/ 1BR/1BA units, each w/ private yard! Excellent setup for assisted living or adult care model w/ multiple living spaces & inviting amenities for high quality of life. True turnkey asset w/ full cosmetic remodel in 2022. Low operating expenses & no major capital outlay required to create immediate revenue opportunity. Desirable outdoor living w/ pool, hot tubs, bocce ball and lots of green space. Block wall perimeter with controlled access for privacy & security. Expanded income options w/ minimal modifications too!

Supplements: remodel completed in 2022 makes this a true turnkey asset, reducing near-term capital expenses and positioning the property for immediate operation. The grounds are designed for lifestyle and engagementan important value driver for both premium rentals and care-related housingfeaturing putt-putt golf and bocce ball. A private pool is secured and closed off exclusively to the main home, adding an additional amenity layer and operational flexibility. Block walls around the perimeter provide exceptional privacy and a secure, enclosed environmentideal for resident comfort, quiet enjoyment, and controlled access.

More Information MLS# 6979920

Contract Info

Ownership: Fee Simple Current Price: $2,600,000 List Price: $2,600,000 Status: Active List Date: 2026-02-03

Location, Tax & Legal

Assessor's Map #: 15 Legal Description (Abbrev): LOT 10 PALO ALTO PARK MCR 004431 Assessor's Parcel #: 48 Add'l Parcels: Yes Tax Municipality: Phoenix Census Tract: 111000 Taxes: 2239 Legal: LOT 10 PALO ALTO PARK MCR Marketing Name: Arcadia Groves on 40th House Number: 3139 Compass: N Street Name: 40TH St Suffix: Street City/Town Code: Phoenix State/Province: AZ Zip Code: 85018 County Code: Maricopa Subdivision: PALO ALTO PARK Assessor Number: 127-15-048 Tax Year: 2025

General Property Description

# of Buildings: 2 Uncvrd Parking Spcs: 8 Lot Size Dimensions: 0 x 0 Total # of Units: 5 Elementary School District: Phoenix Elementary District High School District: Phoenix Union High School District Year Built: 1955 Zoning: R-3

Legal Info

Range: 4E Section: 30 Township: 2N Lot Number: 10

Project Type

5 - 12 Units: 1

Other Type

House + Rental Units: 1 Packaged Offering: 1

Construction

Block: 1 Adobe: 1

Const - Finish

Painted: 1 Brick Veneer: 1

Roofing

Composition: 1 Tile: 1 Foam: 1

Floors

Ceramic Tile: 1

Sale Includes

Land & Building: 1

Income & Expenses

Annual Elec Exp: 6991.68 Annual Gas Exp: 896.4 Annual Landscape Exp: 3000 Annual Maint Exp: 2100 Annual Mgmt Exp: 7488 Annual Trash Exp: 551.88 Annual Wtr/Swr Exp: 7434.24 Owner Association: No Annual Ownr Asoc Fee: 0 Operating Exp: 30701.2 Other Income: 0 Vacancy Allowance: 0.05 Adjusted Gross Inc: 273600

Pmt & Rate Info

Cap Rate: 5.14 Equity: 1800000 1st Encumbrance: 800000 Down Payment %: 0 Monthly Payments: 8000 Total Owed: 800000

Payment Includes

Principal: 1

Showing Notification Methods

Showing Service: Aligned Showings

Lockbox Type

None: 1

Community Features

Pool: 1 Other: 1 See Remarks: 1

Heating

Electric: 1

Cooling

Electric: 1

Exterior Amenities

Landscape Water System: 1

Tenant Pays

None: 1

Appliances Included

Refrigerator: 1 Built-In Range: 1 Washer/Dryer: 1

Road Surface Type

Asphalt: 1

Source of Fincl Data

Projected Proforma: 1

Water Source

City Franchise: 1 Master Meter: 1

Sewer

Sewer - Public: 1

Parking Features

<1 Space Per Unit: 1

Electric

APS: 1

Gas

SW Gas: 1

Owner Pays

Water: 1 Sewer: 1 Electric: 1 Gas: 1 Trash Collection: 1 Landscaping: 1 Pool Maintenance: 1

New Financing

Cash: 1 VA: 1 Conventional: 1 No Carry: 1

Reports/Disclosures

Seller Prop Disc Stm: 1

Environmental

None: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

# 1 Bedroom Units: 4 Avg Rent: 0 Avg SqFt: 621 # Baths: 1

2 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

# 3 Bedroom Units: 1 Avg Rent: 24000 Avg SqFt: 1682 # Baths: 2

4 Bedrooms Units

Avg Rent: 0

Remarks Misc

Cross Street: 44th St Thomas Rd Directions: West on Thomas Rd from 44th Street, then right on 40th Street. Property on right before Osborn Rd, between Cheery Lynn Rd and E Flower Street Geo Lat: 33.486071 Geo Lon: -111.995086

Income Expenses

Gross Annual Sch Inc: 288000 Net Operating Income: 133548.24

Property Features

Project Type: 5 - 12 Units Other Type: House + Rental Units; Packaged Offering Construction: Block; Adobe Const - Finish: Painted; Brick Veneer Roofing: Composition; Tile; Foam Floors: Ceramic Tile Sale Includes: Land & Building Payment Includes: Principal Community Features: Pool; Other; See Remarks Exterior Amenities: Landscape Water System Appliances Included: Built-In Range; Refrigerator; Washer/Dryer Cooling: Electric Water Source: City Franchise; Master Meter Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: <1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Water; Electric; Gas; Trash Collection; Landscaping; Pool Maintenance Tenant Pays: None Source of Fincl Data: Projected Proforma Lockbox Type: None New Financing: Cash; VA; Conventional; No Carry Environmental: None

Listing Office: eXp Realty

Last Updated: February - 05 - 2026