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$850,000

  • Sold
  • Closed
  • Multi-Family
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This closed with seller financing (25% down, 6.5% interest; with a 10 year amortization/term). Near Paradise Valley Village, Desert Ridge & Scottsdale. No HOA. Huge units! Three 2 bed/1 bath units (950 sf /-) paired with a 3 bed/2 bath unit (1150 sf /-). 4000 total sf. 11,975 sf lot. R-3 zoning. 20+ year owner has self-managed. Rents are very low at $1000/$850/$850 (2 bed units) & $1450 (3 bed unit). $49,800/yr +$1200 seller-owned w/d units/late/pet/misc = $51,000 gross/yr. $1500/rent for 2 bedroom is viable. 100% occupied with all month-to-month leases. All long-term tenants. No recent rent increases. Two units had kitchen/bath/lighting/etc upgrades in 2022. Newer HVAC/WH. Value-add opportunity.

Full Property Details for 18227 N 40th

General

  • Sold For: $850,000
  • Taxes: $1,796 (2024)
  • Status: Closed
  • Type: Multi-Family
  • Source: ARMLS_Arizona_MLS_Phoenix_Area
  • MLS ID: 6865522
  • Added to Site: 247 day(s) ago

Interior

  • Flooring: Other, Ceramic Tile, Vinyl

Parking

  • Parking Features: Free, Assigned, >1 Space Per Unit

Location

  • County: Maricopa
  • Township: 4N
  • Subdivision: GENTLE ACRES
  • Cross Streets: Union Hills & Hwy 51

Heating & Cooling

  • Air Conditioning: Yes
  • Cooling Type: Electric, Heat Pump, Individual
  • Heating Type: See Remarks, Individual, Heat Pump, Electric

Utilities

  • Water: City Franchise

Structural Information

  • # Buildings: 2
  • Exterior Const.: Painted, Slump Block
  • Roof: Other, Built-Up
  • Year Built: 1980

Lot Features

  • Lot Dimensions: 11975 sf
  • Frontage: Asphalt, Dedicated Street, Curbs and Gutters
  • Zoning: R-3

Financial Considerations

  • Tax Amount: $1,796
  • Tax Year: 2024
  • Terms: Owner May Carry, Other (See Remarks), Conventional
  • Owner Pays: Other, See Remarks, Water, Sewer

Disclosures and Reports

  • Legal Description: LOT 9 GENTLE ACRES MCR 010002
  • Property ID: 215-15-099
  • Range: 4E
  • Section: 31
  • Lot Number: 9

Listed by Better Homes & Gardens Real Estate SJ Fowler
Sold by DPR Realty LLC

Listing agent

— 18227 N 40th —

  • Better Homes & Gardens Real Estate SJ Fowler

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NMLS#: 1598647

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Schools serving 18227 N 40th

School District:Paradise Valley Unified District
NameGradesDistance
Whispering Wind Academy
15844 North 43rd Street, Phoenix, AZ 85032
PK-61.5 mi
Paradise Valley High School
3950 East Bell Road, Phoenix, AZ 85032
9-120.8 mi
Sunrise Middle School
4960 East Acoma Drive, Scottsdale, AZ 85254
7-82.6 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 18227 N 40th

Date
Details
Price
Change
Source
9/19/2025
Sold
$850,000
-1.15%
MLS
8/19/2025
Price Reduced
$859,900
-3.27%
MLS
6/12/2025
Price Reduced
$889,000
-1.11%
MLS
5/13/2025
Listed
$899,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed by Better Homes & Gardens Real Estate SJ Fowler
Sold by DPR Realty LLC

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18227 N 40th, Phoenix, AZ 85032 (MLS# 6865522) is a Multi-Family property that was sold at $850,000 on September 19, 2025. Want to learn more about 18227 N 40th? Do you have questions about finding other Multi-Family real estate for sale in Phoenix? You can browse all Phoenix real estate or contact a Coldwell Banker agent to request more information.