Immaculately Maintained
3823 N 23RD Drive Phoenix, AZ 85015
New
For Sale
$799,900
MULTI_FAMILY - Phoenix, AZ
Property Size3,704 SF
Price / SF$215.96
Days on Market4
Property Features for 3823 N 23RD Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Multi
- Security features
- Security Lighting
- Exterior features
- Sidewalk(s)
- Appliances
- Free-Standing Range, Disposal, Dishwasher, Refrigerator
- Standard status
- Active
- APN
- 110-04-021
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- LOT 31 GERARDO PARK LOTS 11-39 MCR 004023
- Tax Annual Amount
- 2322
Utilities
- Sewer type
- Public Sewer
- Heating system
- Heat Pump (Heating), Electric (Heating)
- Cooling system
- Heat Pump, Electric
Building Details
- Year built
- 1985
- Number of units
- 4
- Flooring type
- Tile - Ceramic
- Building materials
- Wood Frame, Stucco
- Roof type
- Composition
Listing Agency:
eXp Realty
(888) 897-7821
Listed By:
Joshua Zuniga · License #SA645679000
(623) 221-8668
Added: Jul 21
Last Checked: Jul 24 at 9:06PM
MLS# 7056928
Copyright © 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Immaculately maintained fourplex featuring four 2-bedroom, 1-bath units. Each unit is laid out with French doors that open to a spacious front deck or patio area, supporting an indoor-outdoor feel. Downstairs units include private fenced yards, and the property presents as a pride-of-ownership rental with three units currently occupied and Unit #4 vacant and available to show.
Located at 3823 N 23rd Drive in Phoenix, AZ 85015, the property is designated under “Multi” zoning. The community configuration makes it well-suited for investors seeking an income-producing residential income asset with in-place occupancy.
All four units are the same functional layout, with 926 square feet per unit as provided in the listing information, offering consistent unit design across the building.
Located at 3823 N 23rd Drive in Phoenix, AZ 85015, the property is designated under “Multi” zoning. The community configuration makes it well-suited for investors seeking an income-producing residential income asset with in-place occupancy.
All four units are the same functional layout, with 926 square feet per unit as provided in the listing information, offering consistent unit design across the building.
Key Highlights
- Immaculately maintained four‑plex built in 1985 with 4 units
- All units are 2‑bedroom, 1‑bath layouts with 926 SF each
- Three units currently occupied for immediate income; Unit #4 is vacant and available to show
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $73.3k | $19.80 |
| − Vacancy | −$4.0k | −$1.09 |
| EGI | $69.3k | $18.71 |
| − OpEx | −$20.8k | −$5.61 |
| NOI | $48.5k | $13.10 |
3,704 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$693.1K
$606.4K – $808.6K
NOI $48,514 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$617.2K
$540.0K – $720.0K
NOI $43,202 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$1.12M
$981.7K – $1.31M
NOI $78,538 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Immaculately maintained fourplex with four 2-bedroom, 1-bath units; three occupied and one vacant for showing.
Where is this quadplex located?
The property is located at 3823 N 23RD Drive Phoenix, AZ.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Immaculately maintained four‑plex built in 1985 with 4 units; All units are 2‑bedroom, 1‑bath layouts with 926 SF each; Three units currently occupied for immediate income; Unit #4 is vacant and available to show
