7338 N 43rd Avenue, Glendale, AZ 85301 (MLS# 6899094)

$4,300,000

7338 N 43rd Avenue
Glendale, AZ 85301
MLS# 6899094

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Property 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.

Details

Maps

Contract Info

Ownership: Fee Simple

Current Price: $4,300,000

List Price: $4,300,000

Status: Active

List Date: 2025-07-30

Location, Tax & Legal

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

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

General Property Description

# of Buildings: 13

Uncvrd Parking Spcs: 42

Lot Size Dimensions: 18400

Total # of Units: 20

Year Built: 1983

Zoning: R-3

Project Type

13 - 24 Units: 1

Construction

Wood Frame: 1

Const - Finish

Painted: 1

Stucco: 1

Roofing

Composition: 1

Tile: 1

Floors

Vinyl: 1

Carpet: 1

Sale Includes

Building(s) Only: 1

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

Showing Notification Methods

Showing Service: Aligned Showings

Lockbox Type

None: 1

Community Features

Pool: 1

Heating

Individual: 1

Cooling

Individual: 1

Exterior Amenities

Green Landscaping: 1

Interior Features

Unfurnished: 1

Tenant Pays

Electricity: 1

Appliances Included

Dishwasher: 1

Microwave: 1

Refrigerator: 1

Washer/Dryer: 1

Road Surface Type

Asphalt: 1

Source of Fincl Data

Owner: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Parking Features

>1 Space Per Unit: 1

Electric

SRP: 1

Gas

SW Gas: 1

Owner Pays

Water: 1

Sewer: 1

Trash Collection: 1

Landscaping: 1

New Financing

Cash: 1

Conventional: 1

Reports/Disclosures

None: 1

Environmental

None: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

2 Bedroom Units

# 2 Bedroom Units: 20

Avg Rent: 1372

Avg SqFt: 920

# Baths: 30

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Remarks Misc

Geo Lat: 33.544461

Geo Lon: -112.151728

Legal Info

Lot Number: 14

Income Expenses

Gross Annual Sch Inc: 349200

Net Operating Income: 226399

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

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 comprised of two-bedroom townhome floorplans, each covering 920 square feet and an attached two-car garage. Future ownership will have the opportunity to upgrade the remaining 19 classic interiors with an associated renovation premium of $300 per month.

Listing Office: Marcus & Millichap

Last Updated: July - 30 - 2025