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● For sale

$930,000

1321 N 48TH Place, Phoenix, AZ 85008

PALOMINO ESTATES · Maricopa County

Built 1960 No HOA

98 days on market

Description

This high-yield, well-maintained fourplex in Phoenix is perfectly situated in a quiet cul-de-sac, just south of McDowell & 48th St. Featuring four 2-bedroom, 1-bathroom units, this turnkey property boasts durable block construction and ceramic tile flooring, along with several recent updates. With convenient access to major freeways, supermarket, stores, and located just across from elementary school, these units are highly desirable and in great demand. Units 1 and 2 have just been remodeled/ upgraded. Units 3 and 4 have long-term tenants. Roofing replaced in 2017. All water heaters are newer (2021-2025). Each unit has its own private patio as well as washer/dryer hook-ups. Separate storage room outside unit 4. Amazing 6.5% CAP (Pro forma)

Property details

Interior

Bathrooms

Total Bathrooms: 0

Interior Features

Flooring: Ceramic Tile

Appliances

Free-Standing Range
Refrigerator
Microwave
W/D Hookup
Free-Standing Electric Oven

Heating and Cooling

Cooling Features: Central Air, Heat Pump, Electric, Varies by Unit, Ceiling Fan(s)
Heating Features: Electric

Exterior

Land Info

Lot Size Dimensions: 8640

Garage and Parking

Attached Garage: No
Parking Features: >1 Space Per Unit, Off Street

Community

Neighborhood

Subdivision: PALOMINO ESTATES

Listing

Other Property Info

Annual Tax Amount: $1,184
Source Listing Status: Active
County: Maricopa
Directions: Head East on McDowell, South on 48th St, East on Culver, North on 48th Place.
Parcel Number: 125-13-092-A
Zoning: Multi-Family
Postal City: Phoenix
Listing Date: 2/23/2026
On Market Date: 2/24/2026
MLS#: 6988566

Features

Building and Construction

Year Built: 1960
Property Age: 66
Construction Materials: Block, Painted
Roof: Composition

Utilities

Water Source: City Franchise

Contact Us

Ask a question or schedule a showing

Listed by Monica Coker HomeSmart

Listing updated: April 15, 2026

MLS#: 6988566

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