$1,950,630
3038 N 38TH Street A
Phoenix, AZ 85018
MLS# 6980315



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Property Description
Rare opportunity to acquire a fully upgraded 7-unit multifamily property ideally located adjacent to the highly desirable Arcadia and Midtown Phoenix corridors. This boutique asset offers strong rental demand, modernized interiors, and excellent income potential. All units have been renovated with updated kitchens, baths, flooring, and contemporary finishes, creating a true turnkey investment. The property benefits from proximity to Arcadia Lite dining and shopping, Midtown employment centers, transit, and major freeways. Efficient unit mix, professional maintenance, and a high-demand location make this an ideal asset for investors seeking solid ROI and long-term appreciation. Opportunities like this are limited—don't miss it.

Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $1,950,630
List Price: $1,950,630
Status: Active
List Date: 2026-02-01
Location, Tax & Legal
Unit #: A
Assessor's Map #: 22
Legal Description (Abbrev): CITRUS ACRES MCR 17-29 LOT 64 E2 N2 DAF BEG NE COR SD LOT TH S 66.91F W 151.05F N 66.92F E 151.06F T
Assessor's Parcel #: 33
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 110902
Taxes: 2056
Legal: CITRUS ACRES MCR 17-29 LOT 64 E2 N2 DAF BEG NE COR SD LOT TH S 66.91F W 151.05F N 66.92F E 151.06F T
Marketing Name: Citrus Acres
House Number: 3038
Compass: N
Street Name: 38TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Zip4: 7021
County Code: Maricopa
Subdivision: CITRUS ACRES LOTS 1 THRU 20
Assessor Number: 127-22-033-A
Tax Year: 2025
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 7
Lot Size Dimensions: 150' x 68'
Total # of Units: 7
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Elementary School: Monte Vista Elementary School
Jr. High School: Monte Vista Elementary School
High School: North High School
Year Built: 1964
Zoning: R-3
Legal Info
Range: 3E
Section: 25
Township: 2N
Lot Number: 64
Project Type
5 - 12 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 2056
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 110409
Pmt & Rate Info
Cap Rate: 5.54
Equity: 1950630
Down Payment %: 20
Monthly Payments: 1000
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Forced Air: 1
Cooling
Ceiling Fan(s): 1
Electric: 1
Exterior Amenities
Desert Landscaping: 1
Tenant Pays
Water: 1
Electricity: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Refrigerator: 1
Built-In Range: 1
Road Access Type
City Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Road Responsibility
City Maintained Road: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
1 Space/Unit: 1
Electric
APS: 1
Gas
None: 1
Owner Pays
None: 1
New Financing
Cash: 1
Conventional: 1
Existing 1st Loan
Conventional: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 2
Avg Rent: 1230
Avg SqFt: 550
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 5
Avg Rent: 1445
Avg SqFt: 900
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Mobile Home Prk Info
Total Number Spaces: 14
Remarks Misc
Cross Street: 38th street and Thomas rd
Directions: North on 38th from Thomas road property on left
Geo Lat: 33.483652
Geo Lon: -112.000202
Income Expenses
Gross Annual Sch Inc: 116220
Net Operating Income: 108085
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Tile
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Desert Landscaping
Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal
Heating: Forced Air
Cooling: Ceiling Fan(s); Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: None
Parking Features: 1 Space/Unit
Road Access Type: City Street
Road Surface Type: Asphalt
Road Responsibility: City Maintained Road
Owner Pays: None
Tenant Pays: Water; Electricity
Source of Fincl Data: Owner
Lockbox Type: None
Existing 1st Loan: Conventional
New Financing: Cash; Conventional
Environmental: None

IDX
Listing Office: Platinum Realty Group

Last Updated: February - 05 - 2026

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