4132 N 3rd Ave
Phoenix, AZ 85013
Multifamily Property For Sale · 4 Units

Turnkey four-unit multifamily investment in the heart of Phoenix, positioned at Indian School Road and Central Avenue in highly sought-after Midtown. This rare opportunity consists of two separate duplex buildings with two legal addresses and two APNs, totaling four fully furnished 2-bedroom, 1-bath units. The property must be sold together and operates as a cohesive fourplex-style investment with a shared private interior courtyard. Each unit has been extensively remodeled and is currently operated as a mid-term rental, catering to traveling professionals and medical tenants on three-month leases. The location is ideal for this demand profile, just minutes from St. Joseph's Hospital, Phoenix Children's Hospital, Downtown Phoenix, major employment hubs, and quick access to the 51 and I-10
freeways. Phoenix Sky Harbor International Airport is also nearby, enhancing appeal for short-term and furnished rental use. All four units are fully furnished and include in-unit washer and dryers, wood-look tile flooring, updated kitchens with shaker cabinetry, granite countertops, and stainless-steel appliances. Each unit is individually metered and features newer Low-E windows, updated doors, and newer water heaters, supporting efficient long-term ownership. Built in 1950, the property has been significantly modernized while retaining its solid multifamily footprint. Zoned R4, the property allows for continued medium-term rental use, short-term/Airbnb operation, or a hybrid strategy. There is no HOA, and the asset is truly turnkey. For investors seeking upside, the shared courtyard presents a compelling value-add opportunity, including the potential to create a resort-style community amenity such as a pool or enhanced outdoor gathering space, subject to buyer verification. This property is best suited for a cash buyer or 1031 exchange investor seeking a stabilized, income-producing multifamily asset in a high-demand central Phoenix corridor. A house-hacker scenario also works well, allowing an owner-occupant to live in one unit while offsetting expenses with the remaining rentals. Due to current interest rates, returns are strongest for cash or exchange buyers. A rare chance to acquire a remodeled, furnished, four-unit property in Midtown Phoenix with flexible rental strategies, strong tenant demand, and long-term growth potential.