4401 N 21st Street, Phoenix, AZ 85016

$4,250,000
Property Type: Multiple Dwellings Status: Active
Current Price: $4,250,000 Last Modified: 6/12/2026

Description

Turney Villas is a centrally located multifamily investment opportunity consisting of a 16-unit apartment made up of mostly two bedroom/one bath units, and two separate houses. All units, except the one bedroom/one bath have a fenced in back or front yard. Most of the units have coated cement floors. There is both covered and uncovered parking available to the tenants, with ample street parking in front of the complex. The building was completely remodeled when the current owner purchased it. The Kitchen is good sized which opens to the dining and living rooms. There is a washer/dryer in each unit. They are very nice units which gives the tenants a very comfortable feeling. This Listing consists of 4 separate parcels that all have to be purchased together.

Supplements: Turney Villas is a centrally located multifamily investment opportunity consisting of a 16-unit apartment made up of mostly two bedroom/one bath units, and two separate houses. All units, except the one bedroom/one bath have a fenced in back or front yard. Most of the units have coated cement floors. There is both covered and uncovered parking available to the tenants, with ample street parking in front of the complex. The building was completely remodeled when the current owner purchased it. The Kitchen is good sized which opens to the dining and living rooms. There is a washer/dryer in each unit. They are very nice units which gives the tenants a very comfortable feeling. The property was previously rezoned to R4A with prior approval for up to 54 multifamily units across a 4-story configuration, providing investors with future density and redevelopment optionality. Location Description: Located within the highly desirable Biltmore and Midtown Phoenix corridor, Turney Villas benefits from strong connectivity to major employment centers, retail, entertainment, and transportation corridors. The property is very close to the AZ-51, which connects you into the 101, 202 and 10 freeways. You are close to Arcadia, Scottsdale, and the Camelback Corridor. This area is experiencing population growth, employment expansion, and limited infill housing supplies which keep up strong multifamily demand. This also sets up exceptional opportunity for future development.

More Information MLS# 7041244

Contract Info

Ownership: Fee Simple Current Price: $4,250,000 List Price: $4,250,000 Status: Active List Date: 2026-06-01

Location, Tax & Legal

Assessor's Map #: 31 Assessor's Parcel #: 12 Add'l Parcels: Yes Tax Municipality: Phoenix Taxes: 2867 Legal: HOMESIDE AC LOT 4 W 166' OF S 90' BLK 1 Marketing Name: Turney Villas House Number: 4401 Compass: N Street Name: 21st St Suffix: Street City/Town Code: Phoenix State/Province: AZ Zip Code: 85016 Country: US County Code: Maricopa Assessor Number: 163-31-012 Tax Year: 2025

General Property Description

# of Buildings: 8 Uncvrd Parking Spcs: 8 Lot Size Dimensions: 0 Total # of Units: 18 Elementary School District: Madison Elementary District High School District: Phoenix Union High School District Year Built: 1971 Zoning: R4-A

Project Type

13 - 24 Units: 1

Construction

Block: 1

Const - Finish

Painted: 1

Roofing

Composition: 1

Floors

Concrete: 1 Vinyl: 1

Sale Includes

Land & Building: 1

Income & Expenses

Owner Association: No Annual Ownr Asoc Fee: 0 Operating Exp: 2867 Other Income: 13000 Vacancy Allowance: 0.1 Adjusted Gross Inc: 320400

Pmt & Rate Info

Cap Rate: 4.68 Equity: 4250000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0

Showing Notification Methods

Showing Service: No Showing Service Used

Lockbox Type

None: 1

Community Features

No Pool: 1

Heating

Heat Pump: 1

Cooling

Heat Pump: 1

Exterior Amenities

Desert Landscaping: 1

Interior Features

Fire/Smoke Alarm(s): 1

Tenant Pays

Electricity: 1

Appliances Included

Microwave: 1 Refrigerator: 1 Washer/Dryer: 1

Road Surface Type

Concrete: 1

Source of Fincl Data

Owner: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Parking Features

>1 Space Per Unit: 1 Add'l Parking Avail: 1

Electric

APS: 1

Gas

SW Gas: 1

Owner Pays

Water: 1 Sewer: 1 Trash Collection: 1

New Financing

Other (See Remarks): 1

Reports/Disclosures

Seller Prop Disc Stm: 1

Environmental

Other (See Remarks): 1

Contact Info

List Agent Home Phn: 602-703-5277

Efficiency Units

Avg Rent: 0

1 Bedroom Units

# 1 Bedroom Units: 1 Avg Rent: 1250 Avg SqFt: 480 # Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 15 Avg Rent: 1516 Avg SqFt: 792 # Baths: 1

3 Bedrooms Units

# 3 Bedroom Units: 1 Avg Rent: 1650 Avg SqFt: 1416 # Baths: 2

4 Bedrooms Units

# 4 Bedroom Units: 1 Avg Rent: 1950 Avg SqFt: 1394 # Baths: 2

Remarks Misc

Cross Street: 21st Street and Turney Directions: From 20th Street and Camelback Road, head South on 20th, past Campbell, and make first left at Turney. Head East to the property at the corner of 21st Street and Turney. Geo Lat: 33.500421 Geo Lon: -112.036343

Legal Info

Lot Number: 4

Income Expenses

Gross Annual Sch Inc: 343000 Net Operating Income: 199000

Property Features

Project Type: 13 - 24 Units Construction: Block Const - Finish: Painted Roofing: Composition Floors: Concrete; Vinyl Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Desert Landscaping Interior Features: Fire/Smoke Alarm(s) Appliances Included: Refrigerator; Microwave; Washer/Dryer Heating: Heat Pump Cooling: Heat Pump Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: >1 Space Per Unit; Add'l Parking Avail Road Surface Type: Concrete Owner Pays: Water; Trash Collection Tenant Pays: Electricity Source of Fincl Data: Owner Lockbox Type: None New Financing: Other (See Remarks) Environmental: Other (See Remarks)
Listing Office: Coldwell Banker Commercial Realty
Last Updated: June - 12 - 2026
4401 N 21st Street, Phoenix, AZ 85016- MLS# 7041244
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