Property profile

2231 38th St Phoenix, AZ 85008

OFF-MARKET
Assisted living facilities
Property ID
US07-2664514
3,122 SF 0.33 ac lot Built 1946
Entity Owned 1-yr Hold Free & Clear
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Property summary

AI-generated overview

A fully furnished assisted living residence in South Arcadia with a total of 9 bedrooms and 10 bathrooms, within a 3,122-square-foot home. The facility is licensed through AZDHS for a maximum of 10 assisted living residents and is configured with nine en-suite bedrooms plus two additional hall bathrooms. Interior spaces include a spacious living room, family room, office, laundry room, chef’s kitchen, formal dining area, and multiple common seating areas, along with a garage that includes storage. Outdoor areas feature gardens, a walking path, and a patio area. The home is situated near healthcare facilities, parks, and shopping/dining destinations, including Biltmore and Fashion Square. The property is set up to support assisted living use under its existing license, with the site described as having potential to pursue additional capacity through a City of Phoenix certificate of occupancy process for more residents.

Property profile

Verified
Property type Assisted living facilities
Use group HOMES (RETIRED, NURSING)
Year built 1946
Construction CONCRETE BLOCKS
Total area 3,122 SF
Lot 0.33 ac (14,366 SF)
Zoning code R1-10
APN 120-10-076
UPID US07-2664514

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Disability Services

Location

2231 38th St Phoenix, AZ 85008-3012
Phoenix metro Census 111402 PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$654k
Blend (final) Blend
$325k

Owner & transaction history

since 2025
7 recorded transactions
2025
Price N/A
2025
Price N/A
2025
Price N/A
2019
Price N/A
2006
$288,000
2006
Price N/A
1969
Price N/A

Zoning & alternative use

R1-10 · Phoenix, AZ
Zoning description

The purpose of R1-10 is to foster the creation of living areas which can assist the establishment of stable, functional neighborhoods and an established pattern of living in this metropolitan area reflects a tradition of…

General category RESIDENTIAL
Top alternative use upside
Office building $940,000 +32.9%
Medical building $830,000 +17.2%
Warehouse, storage $810,000 +14.6%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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