Immaculate Four-Plex with Private
3823 North 23rd Drive Phoenix, AZ 85015
For Sale
$899,900
Four units each offer 2-bedroom, 1-bath layouts with French doors to a front deck or patio.
Property Size3,704 SF
Price / SF$242.95
Days on Market155
Property Features for 3823 North 23rd Drive
General Information
- Standard status
- Active
- Size
- 3,704 SF
- Property subtype
- Multiple Dwellings
Building Details
- Year Built
- 1985
Listing Agency:
eXp Realty
(623) 221-8668
Listed By:
Joshua Zuniga · License #SA645679000
(623) 221-8668
Source:
Compass
Added: Feb 19
Changed: Jul 20
Last Checked: Jul 23 at 10:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty
Investment Insights
Based on property information with market context.
This impeccably maintained four-plex features four identical 2-bedroom, 1-bath units. Each unit is set up with French doors opening to a front deck or patio area, creating an indoor-outdoor feel. The downstairs units also include private fenced yards.
The property is located at 3823 North 23rd Drive in Phoenix, within a highly desirable rental community. Three units are currently occupied, and Unit #4 is vacant and available to show.
From a practical standpoint, the consistent unit layouts and private outdoor spaces—plus the availability of Unit #4—support an easy path to leasing and operations within the existing configuration.
The property is located at 3823 North 23rd Drive in Phoenix, within a highly desirable rental community. Three units are currently occupied, and Unit #4 is vacant and available to show.
From a practical standpoint, the consistent unit layouts and private outdoor spaces—plus the availability of Unit #4—support an easy path to leasing and operations within the existing configuration.
Key Highlights
- 4‑plex built in 1985 with one building and 4 total units
- Each unit is a 2‑bedroom, 1‑bath layout with 926 sq ft
- 3 units are currently occupied and 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 5.39%
Second Best
Apartment 5plus
$617.2K
$540.0K – $720.0K
NOI $43,202 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$1.12M
$981.7K – $1.31M
NOI $78,538 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four units each offer 2-bedroom, 1-bath layouts with French doors to a front deck or patio.
Where is this quadplex located?
The property is located at 3823 North 23rd Drive Phoenix, AZ.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 4‑plex built in 1985 with one building and 4 total units; Each unit is a 2‑bedroom, 1‑bath layout with 926 sq ft; 3 units are currently occupied and Unit #4 is vacant and available to show
