$4,300,000
7338 N 43rd Avenue
Glendale, AZ 85301
MLS# 6899094

20210802_7464-N-43rd-Ave_12
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20210802_7464-N-43rd-Ave_12 GSS09 GSS10 GSS11 GSS12 GSS14 GSS15 GSS17 GSS21 GSS20 GSS18 GSS22 GSS16 GSS23 20210802_7464-N-43rd-Ave_14 20210802_7464-N-43rd-Ave_13 20210802_7464-N-43rd-Ave_10 20210802_7464-N-43rd-Ave_11 20210802_7464-N-43rd-Ave_15 Community Map_comp GSS01 GSS07 GSS03 GSS04 GSS05 GSS06 GSS02

Property Description
Concept at 43rd Ave is a 20-unit townhome community located southwest of the intersection of 43rd & Orangewood Avenues offering immediate mobility through the adjacent Interstate 17 (I- 17) as a connection point to navigate the boundless lifestyle and economic opportunities of the west Valley. The property is presented with access to a strong employment landscape led by ±412,100 total employees within a ten-mile radius across employment corridors featuring tenants such as USAA, American Express, Banner Health, U-Haul, Amazon, and Blue Cross Blue Shield as well as numerous awarding-winning healthcare facilities, Banner University Medical Center.

Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $4,300,000
List Price: $4,300,000
Status: Active
List Date: 2025-07-30
Location, Tax & Legal
Assessor's Map #: 7
Assessor's Parcel #: 17
Add'l Parcels: Yes
Tax Municipality: Glendale
Taxes: 14107
Legal: CONCEPT 80 MCR 221-13
Marketing Name: Concept on 43rd Ave
House Number: 7338
Compass: N
Street Name: 43rd
St Suffix: Avenue
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85301
Country: US
County Code: Maricopa
Assessor Number: 147-07-017
Tax Year: 2025
General Property Description
# of Buildings: 13
Uncvrd Parking Spcs: 42
Lot Size Dimensions: 18400
Total # of Units: 20
Year Built: 1983
Zoning: R-3
Project Type
13 - 24 Units: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Composition: 1
Tile: 1
Floors
Vinyl: 1
Carpet: 1
Sale Includes
Building(s) Only: 1
Income & Expenses
Annual Elec Exp: 8520
Annual Ins Exp: 15898
Annual Landscape Exp: 1000
Annual Legal & Acctg: 4000
Annual Maint Exp: 10000
Annual Mgmt Exp: 14343
Owner Association: Yes
Annual Ownr Asoc Fee: 40800
Annual Rplcmnt Rsrvs: 5000
Annual Other Expense: 18500
Operating Exp: 132168
Other Income: 30318
Vacancy Allowance: 0.06
Adjusted Gross Inc: 356746.92
Pmt & Rate Info
Cap Rate: 5.27
Equity: 4300000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
None: 1
Community Features
Pool: 1
Heating
Individual: 1
Cooling
Individual: 1
Exterior Amenities
Green Landscaping: 1
Interior Features
Unfurnished: 1
Tenant Pays
Electricity: 1
Appliances Included
Dishwasher: 1
Microwave: 1
Refrigerator: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
>1 Space Per Unit: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Cash: 1
Conventional: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 20
Avg Rent: 1372
Avg SqFt: 920
# Baths: 30
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Geo Lat: 33.544461
Geo Lon: -112.151728
Legal Info
Lot Number: 14
Income Expenses
Gross Annual Sch Inc: 349200
Net Operating Income: 226399
Property Features
Project Type: 13 - 24 Units
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Composition; Tile
Floors: Vinyl; Carpet
Sale Includes: Building(s) Only
Community Features: Pool
Exterior Amenities: Green Landscaping
Interior Features: Unfurnished
Appliances Included: Refrigerator; Dishwasher; Microwave; Washer/Dryer
Heating: Individual
Cooling: Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: >1 Space Per Unit
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity
Source of Fincl Data: Owner
Lockbox Type: None
New Financing: Cash; Conventional
Environmental: None
Supplements
The property also provides close proximity to a number of west Valley mainstays ranging from Westgate Entertainment District to several Spring Training facilities as well as a number of outstanding higher academic campus, including Grand Canyon University & Arizona State University West Campus. Developed in 1983, Concept at 43rd Ave is entirely comprised of two-bedroom townhome floorplans, each covering 920 square feet and an attached two-car garage. Future ownership will have the opportunity to upgrade the remaining 19 classic interiors with an associated renovation premium of $300 per month.
IDX
Listing Office: Marcus & Millichap

Last Updated: July - 30 - 2025

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