7338 N 43rd Avenue, Glendale, AZ 85301

$4,300,000

Property Type: Multiple Dwellings Status: Active

Current Price: $4,300,000 Last Modified: 7/30/2025

Overview

Description

Concept at 43rd Ave is a 20-unit townhome community located southwest of the intersection of 43rd & Orangewood Avenues offering immediate mobility through the adjacent Interstate 17 (I- 17) as a connection point to navigate the boundless lifestyle and economic opportunities of the west Valley. The property is presented with access to a strong employment landscape led by ±412,100 total employees within a ten-mile radius across employment corridors featuring tenants such as USAA, American Express, Banner Health, U-Haul, Amazon, and Blue Cross Blue Shield as well as numerous awarding-winning healthcare facilities, Banner University Medical Center.

Supplements: The property also provides close proximity to a number of west Valley mainstays ranging from Westgate Entertainment District to several Spring Training facilities as well as a number of outstanding higher academic campus, including Grand Canyon University & Arizona State University West Campus. Developed in 1983, Concept at 43rd Ave is entirely c ... (Read more)

Listing Details MLS# 6899094

Location, Tax & Legal

House Number: 7338
Compass: N
Street Name: 43rd
St Suffix: Avenue
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85301
County Code: Maricopa
Assessor Number: 147-07-017
Tax Year: 2025
Assessor's Map #: 7
Assessor's Parcel #: 17
Add'l Parcels: Yes
Tax Municipality: Glendale
Taxes: 14107
Legal: CONCEPT 80 MCR 221-13
Marketing Name: Concept on 43rd Ave

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 18400
Year Built: 1983
Uncvrd Parking Spcs: 42
Total # of Units: 20
# of Buildings: 13
Zoning: R-3

Legal Info

Lot Number: 14

Income Expenses

Gross Annual Sch Inc: 349200
Net Operating Income: 226399

More Information

Showing Notification Methods

Showing Service: Aligned Showings

2 Bedroom Units

# 2 Bedroom Units: 20
Avg Rent: 1372
Avg SqFt: 920
# Baths: 30

Project Type

13 - 24 Units: Yes

Construction

Wood Frame: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Composition: Yes
Tile: Yes

Floors

Vinyl: Yes
Carpet: Yes

Sale Includes

Building(s) Only: Yes

Income & Expenses

Annual Elec Exp: 8520
Annual Ins Exp: 15898
Annual Landscape Exp: 1000
Annual Legal & Acctg: 4000
Annual Maint Exp: 10000
Annual Mgmt Exp: 14343
Owner Association: Yes
Annual Ownr Asoc Fee: 40800
Annual Rplcmnt Rsrvs: 5000
Annual Other Expense: 18500
Operating Exp: 132168
Other Income: 30318
Vacancy Allowance: 0.06
Adjusted Gross Inc: 356746.92

Pmt & Rate Info

Cap Rate: 5.27
Equity: 4300000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

Pool: Yes

Heating

Individual: Yes

Cooling

Individual: Yes

Exterior Amenities

Green Landscaping: Yes

Interior Features

Unfurnished: Yes

Tenant Pays

Electricity: Yes

Appliances Included

Dishwasher: Yes
Microwave: Yes
Refrigerator: Yes
Washer/Dryer: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

>1 Space Per Unit: Yes

Electric

SRP: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Cash: Yes
Conventional: Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 13 - 24 Units Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Composition; Tile Floors: Vinyl; Carpet Sale Includes: Building(s) Only Community Features: Pool Exterior Amenities: Green Landscaping Interior Features: Unfurnished Appliances Included: Refrigerator; Dishwasher; Microwave; Washer/Dryer Heating: Individual Cooling: Individual Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: >1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Owner Lockbox Type: None New Financing: Cash; Conventional Environmental: None

Listing Office: Marcus & Millichap

Last Updated: July - 30 - 2025