4132 N 3RD Avenue, Phoenix, AZ 85013 (MLS# 6975915)

4132 N 3RD Avenue, Phoenix, AZ 85013

$1,550,000
Property Type: Multiple Dwellings Status: Active
Current Price: $1,550,000 Last Modified: 2/05/2026

Description

Turnkey four-unit multifamily investment in the heart of Phoenix, positioned at Indian School Road and Central Avenue in highly sought-after Midtown. This rare opportunity consists of two separate duplex buildings with two legal addresses and two APNs, totaling four fully furnished 2-bedroom, 1-bath units. The property must be sold together and operates as a cohesive fourplex-style investment with a shared private interior courtyard.Each unit has been extensively remodeled and is currently operated as a mid-term rental, catering to traveling professionals and medical tenants on three-month leases. The location is ideal for this demand profile, just minutes from St. Joseph's Hospital, Phoenix Children's Hospital, Downtown Phoenix, major employment hubs, and quick access to the 51 and I-10

Supplements: freeways. Phoenix Sky Harbor International Airport is also nearby, enhancing appeal for short-term and furnished rental use.All four units are fully furnished and include in-unit washer and dryers, wood-look tile flooring, updated kitchens with shaker cabinetry, granite countertops, and stainless-steel appliances. Each unit is individually metered and features newer Low-E windows, updated doors, and newer water heaters, supporting efficient long-term ownership. Built in 1950, the property has been significantly modernized while retaining its solid multifamily footprint.Zoned R4, the property allows for continued medium-term rental use, short-term/Airbnb operation, or a hybrid strategy. There is no HOA, and the asset is truly turnkey. For investors seeking upside, the shared courtyard presents a compelling value-add opportunity, including the potential to create a resort-style community amenity such as a pool or enhanced outdoor gathering space, subject to buyer verification.This property is best suited for a cash buyer or 1031 exchange investor seeking a stabilized, income-producing multifamily asset in a high-demand central Phoenix corridor, great return with conventional financing as well. A house-hacker scenario also works well, allowing an owner-occupant to live in one unit while offsetting expenses with the remaining rentals. A rare chance to acquire a remodeled, furnished, four-unit property in Midtown Phoenix with flexible rental strategies, strong tenant demand, and long-term growth potential.

More Information MLS# 6975915

Contract Info

Ownership: Fee Simple Current Price: $1,550,000 List Price: $1,550,000 Status: Active List Date: 2026-01-27

Location, Tax & Legal

Assessor's Map #: 32 Legal Description (Abbrev): LOT 55 INDIAN PARK MCR 003937 Assessor's Parcel #: 55 Add'l Parcels: No Tax Municipality: Phoenix Census Tract: 117100 Taxes: 2437.04 Legal: LOT 55 INDIAN PARK MCR 003937 Marketing Name: N/A House Number: 4132 Compass: N Street Name: 3RD St Suffix: Avenue City/Town Code: Phoenix State/Province: AZ Zip Code: 85013 Zip4: 5007 County Code: Maricopa Subdivision: INDIAN PARK Assessor Number: 155-32-055 Tax Year: 2025

General Property Description

# of Buildings: 2 Uncvrd Parking Spcs: 0 Lot Size Dimensions: Unknown Total # of Units: 4 Elementary School District: Osborn Elementary District High School District: Phoenix Union High School District Elementary School: Longview Elementary School Jr. High School: Osborn Middle School High School: Central High School Year Built: 1950 Zoning: R4

Legal Info

Range: 3E Section: 20 Township: 2N Lot Number: 55

Project Type

Four Plex: 1

Other Type

Packaged Offering: 1

Construction

Brick: 1

Const - Finish

Brick Veneer: 1

Roofing

Composition: 1

Floors

Vinyl: 1

Sale Includes

Land & Building: 1

Income & Expenses

Owner Association: No Annual Ownr Asoc Fee: 0 Operating Exp: 2437.04 Other Income: 0 Vacancy Allowance: 0.08 Adjusted Gross Inc: 105984

Pmt & Rate Info

Cap Rate: 6.19 Equity: 1550000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0

Showing Notification Methods

Showing Service: Aligned Showings Text: 1 Email: 1 Phone Call: 1

Lockbox Type

None: 1

Community Features

No Pool: 1

Heating

Electric: 1 Individual: 1

Cooling

Central Air: 1

Exterior Amenities

Landscape Water System: 1

Interior Features

Furnished: 1 Fire/Smoke Alarm(s): 1

Tenant Pays

Gas: 1 Water: 1 Electricity: 1 Trash Collection: 1 Cable TV: 1

Appliances Included

Dishwasher: 1 Microwave: 1 Refrigerator: 1 Free-Standing Range: 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

Carport: 1 >1 Space Per Unit: 1

Electric

APS: 1

Gas

SW Gas: 1

Owner Pays

Landscaping: 1

New Financing

Cash: 1 Conventional: 1 1031 Exchange: 1

Existing 1st Loan

Treat as Free&Clear: 1

Reports/Disclosures

Seller Prop Disc Stm: 1

Environmental

None: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

2 Bedroom Units

# 2 Bedroom Units: 4 Avg Rent: 2300 Avg SqFt: 1000 # Baths: 4

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Remarks Misc

Cross Street: Central Ave & Indian School Rd Directions: Head south on Central Ave towards Indian School Rd. Turn right onto Indian School Rd & right on 3rd Ave. Property is on the left. Geo Lat: 33.496114 Geo Lon: -112.078448

Income Expenses

Gross Annual Sch Inc: 115200 Net Operating Income: 96000

Property Features

Project Type: Four Plex Other Type: Packaged Offering Construction: Brick Const - Finish: Brick Veneer Roofing: Composition Floors: Vinyl Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Landscape Water System Interior Features: Furnished; Fire/Smoke Alarm(s) Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer Heating: Individual Cooling: Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: Carport; >1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Landscaping Tenant Pays: Water; Electricity; Gas; Trash Collection; Cable TV Source of Fincl Data: Owner Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None Existing 1st Loan: Treat as Free&Clear New Financing: Cash; Conventional; 1031 Exchange Environmental: None
Listing Office: Real Broker
IDX
Last Updated: February - 05 - 2026
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