4118 N 3RD Avenue, Phoenix, AZ 85013
$615,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$615,000
Last Modified:
3/05/2026
Description
4118 N 3rd Ave is a 3-unit apartment community located in the Midtown Submarket of Phoenix, Arizona. Originally constructed in 1952, the property has undergone significant capital improvements over recent years, including interior updates, brand new plumbing system with 100% PEX , newer roof, water heaters, upgraded electrical, and added private fencing. The building consists of (3) one-bedroom, one-bathroom floor plans and a covered parking spot for each unit. Each unit is currently occupied at below market rents, allowing for considerable rental upside. New ownership acquire a renovated and well-performing asset with near-term upside in a highly desirable and centralized location along the Central Avenue Corridor.
More Information MLS# 6937740
Contract Info
Ownership: Fee Simple
Current Price: $615,000
List Price: $615,000
Status: Active
List Date: 2025-10-23
Location, Tax & Legal
Assessor's Map #: 32
Legal Description (Abbrev): LOT 58 INDIAN PARK MCR 003937
Assessor's Parcel #: 58
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 117100
Taxes: 1161
Legal: LOT 58 INDIAN PARK MCR 003937
Marketing Name: 4118 N 3rd Ave
House Number: 4118
Compass: N
Street Name: 3RD
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85013
Zip4: 5010
County Code: Maricopa
Subdivision: INDIAN PARK
Assessor Number: 155-32-058
Tax Year: 2024
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 2
Lot Size Dimensions: 112x66
Flood Zone: No
Total # of Units: 3
Elementary School District: Osborn Elementary District
High School District: Phoenix Union High School District
Year Built: 1952
Zoning: R4
Legal Info
Range: 3E
Section: 20
Township: 2N
Lot Number: 58
Project Type
Tri-Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Ins Exp: 1713
Annual Landscape Exp: 720
Annual Wtr/Swr Exp: 2700
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 6294
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 42108
Pmt & Rate Info
Cap Rate: 5.67
Equity: 635000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Text: 1
Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
See Remarks: 1
Heating
Heat Pump: 1
Electric: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Electric: 1
Heat Pump: 1
Individual: 1
Exterior Amenities
Desert Landscaping: 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Disposal: 1
Free-Standing Electric Oven: 1
Refrigerator: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Sewer-In & Connected: 1
Parking Features
Carport: 1
1 Space/Unit: 1
Add'l Parking Avail: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Cash: 1
Conventional: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 3
Avg Rent: 1172
Avg SqFt: 600
# Baths: 1
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: Central & Indian School
Geo Lat: 33.495578
Geo Lon: -112.078464
Income Expenses
Gross Annual Sch Inc: 42108
Net Operating Income: 36015
Property Features
Project Type: Tri-Plex
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool; See Remarks
Exterior Amenities: Desert Landscaping
Interior Features: Unfurnished; Fire/Smoke Alarm(s)
Appliances Included: Free-Standing Electric Oven; Refrigerator; Disposal
Heating: Heat Pump
Cooling: Ceiling Fan(s); Electric; Heat Pump; Individual; Central Air
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public; Sewer-In & Connected
Electric: SRP
Gas: None
Parking Features: Carport; 1 Space/Unit; Add'l Parking Avail
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner
Showing Notification Methods: Text; Phone Call
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
New Financing: Cash; Conventional
Environmental: None
Listing Office:
Matthews Real Estate Investment Services
Last Updated: March - 05 - 2026
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