● For sale

$2,600,000

3139 N 40TH Street, Phoenix, AZ 85018

PALO ALTO PARK · Maricopa County

Built 1955 No HOA
118 days on market

Description

Rare investment opportunity in Arcadia Lite! Flexible 5-unit residential compound ideal for residential assisted living, adult care, sober living, transitional housing, or premium rental income with high ROI! Nearly ½-acre property w/ 3BR/2BA single-family+ 4-plex w/ 1BR/1BA units, each w/ private yard! Excellent setup for assisted living or adult care model w/ multiple living spaces & inviting amenities for high quality of life. True turnkey asset w/ full cosmetic remodel in 2022. Low operating expenses & no major capital outlay required to create immediate revenue opportunity. Desirable outdoor living w/ pool, hot tubs, bocce ball and lots of green space. Block wall perimeter with controlled access for privacy & security. Expanded income options w/ minimal modifications too! remodel completed in 2022 makes this a true turnkey asset, reducing near-term capital expenses and positioning the property for immediate operation. The grounds are designed for lifestyle and engagementan important value driver for both premium rentals and care-related housingfeaturing putt-putt golf and bocce ball. A private pool is secured and closed off exclusively to the main home, adding an additional amenity layer and operational flexibility. Block walls around the perimeter provide exceptional privacy and a secure, enclosed environmentideal for resident comfort, quiet enjoyment, and controlled access.

Property details

Interior

Bathrooms

  • Total Bathrooms: 0

Interior Features

  • Flooring: Ceramic Tile

Appliances

  • Built-In Range
  • Refrigerator
  • Washer/Dryer

Heating and Cooling

  • Cooling Features: Electric
  • Heating Features: Electric
Exterior

Land Info

  • Lot Size Dimensions: 0 x 0

Garage and Parking

  • Attached Garage: No
  • Parking Features: <1 Space Per Unit
Community

Neighborhood

  • Subdivision: PALO ALTO PARK
Listing

Other Property Info

  • Annual Tax Amount: $2,239
  • Source Listing Status: Active
  • County: Maricopa
  • Directions: West on Thomas Rd from 44th Street, then right on 40th Street. Property on right before Osborn Rd, between Cheery Lynn Rd and E Flower Street
  • Parcel Number: 127-15-048
  • Zoning: R-3
  • Postal City: Phoenix
  • Listing Date: 2/3/2026
  • MLS#: 6979920
Features

Building and Construction

  • Year Built: 1955
  • Property Age: 71
  • Construction Materials: Block, Adobe, Painted, Brick Veneer
  • Roof: Tile, Composition, Foam

Utilities

  • Water Source: Master Meter, City Franchise

Contact Us

Contact Us

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Listed by Erik Kelly eXp Realty

Listing updated: May 31, 2026

MLS#: 6979920

Data relating to real estate for sale on this website comes in part from the Internet Data Exchange (IDX) program of Arizona Regional Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS.

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