Arizona's small multifamily stock is mostly block construction from the 1950s through the 1980s: Central Phoenix fourplexes, Tempe duplexes near campus and Tucson triplexes near the university.
In short: Our top pick for Arizona 2-4 unit rentals is LendingStreet. We qualify duplexes, triplexes and fourplexes on the combined rent of every unit, with no W-2s or tax returns. You can buy at up to 80% LTV or cash out at up to 75% LTV, close in an LLC and choose a 30-year term. Loans start at $150,000 with no stated maximum, and we lend statewide. Arizona property taxes are moderate, so on a fourplex the ratio usually turns on price, rent, insurance and who pays utilities.
Arizona fourplexes often trade at prices that make the payment the main line in the ratio. We size the loan so it clears 1.0x with room to spare, and we account for owner-paid water and trash where they apply.
What you get: DSCR financing from $150,000 with no stated maximum, up to 80% LTV to buy and up to 75% LTV to pull cash out, 30-year terms, a 620 credit minimum, and approval based on the property's rent rather than your tax returns. Most of our borrowers close in an LLC.
Investors adding a Arizona duplex, triplex or fourplex to a rental portfolio are the core fit. The next step is simple: get a quote with the form below, or call (877) 298-1001.
Well-known 2-4 unit rental lenders include Dominion Financial, LendingOne, Lima One, New Silver and RCN Capital. Compared scenario by scenario for investors in Arizona, LendingStreet comes out as the stronger choice, and one application covers it.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| Rental loan above $2M | LendingStreet | Our DSCR loans have no stated maximum. LendingOne states DSCR loans up to $2,000,000 and RCN Capital states long-term rental loans up to $1.5M. |
| Credit score in the 620s | LendingStreet | Our DSCR minimum is 620. RCN Capital and New Silver state 660 minimums, and Dominion Financial states 680, with exceptions to 660. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
In Phoenix, older fourplexes and duplexes are common in Central Phoenix neighborhoods such as Coronado, Encanto and Garfield, and along corridors near downtown. Tempe has duplexes and fourplexes near Arizona State, and Mesa and Glendale add a steady supply of older block buildings.
In Tucson, student and workforce rentals cluster near the University of Arizona in areas such as Sam Hughes, Feldman's and Jefferson Park. Flagstaff has small multifamily near Northern Arizona University, at higher prices.
Each lender type has its place. This is how they typically compare for a long-term Arizona duplex, triplex or fourplex hold.
The other types are fair options in the right situation. Where LendingStreet stands out is the combination: qualify on rent, close in an LLC, keep a 30-year term and finance in any state as your portfolio grows.
| What Arizona investors need | LendingStreet | Typical bank or credit union | Typical hard money lender |
|---|---|---|---|
| Qualify on rent | Yes, combined rent of all units | Often requires tax returns and personal income | Based mostly on the deal, for a short term |
| Borrow in an LLC | Standard | Varies by bank | Common |
| Long-term hold | 30-year terms available | Varies; some portfolio loans have shorter terms | Usually short-term only |
| Purchase leverage | Up to 80% LTV | Varies by bank | Varies; fees and terms vary |
| Cash-out refinance | Up to 75% LTV | Varies | No long-term option |
| Loan size | From $150,000, no stated maximum | Set by the bank's appetite | Varies |
| Where they lend | All 50 states and DC | Usually local or regional | Usually local |
We qualify the building, not your paycheck. Add the rent from each unit, then divide by the full payment (principal and interest, taxes, insurance and any association dues). At 1.0x or better, the deal meets our standard minimum, and sub-1.0 programs are available on some files.
On an Arizona fourplex, the appraiser compares rent with other small multifamily units nearby. Near ASU or the University of Arizona, leases may follow the school year, so signed leases help.
Each size has its own guide: our duplex, triplex and fourplex pages cover leases, vacancies and unit mix in more detail, and the DSCR calculator lets you test a deal before you call.
Arizona has no real estate transfer tax beyond a small affidavit fee, which keeps closing costs down. Property taxes are generally moderate, but rentals are classified differently from primary residences and do not get the homeowner rebate. Confirm the figure with the county assessor.
Arizona law requires residential rentals to be registered with the county assessor, and state law prohibits local rent control. Heat drives HVAC and roof costs, and many older fourplexes have owner-paid water and trash, which reduce net income. Confirm local rules with the city or county.
Say you buy a Central Phoenix fourplex for $800,000 at 75% LTV, with each unit renting for $1,350 a month. Taxes are estimated at $3,600 a year and insurance at $2,800.
This example is illustrative and not a quote. Rent of $5,400 divided by a total payment of $4,677 gives a DSCR of about 1.15x, above our 1.0x standard minimum. Low taxes help, but the payment is most of the cost. If you pay water and trash, set that aside from the rent. Call (877) 298-1001 to run your fourplex.
| Item | Amount |
|---|---|
| Purchase price | $800,000 |
| Loan amount (75% LTV) | $600,000 |
| Down payment | $200,000 |
| Monthly rent (4 units) | $5,400 |
| Estimated principal and interest | $4,144 |
| Property taxes ($3,600 a year) | $300 |
| Insurance ($2,800 a year) | $233 |
| Total monthly payment | $4,677 |
| DSCR | 1.15x |
A side-by-side comparison only works if every lender answers the same questions.
Here is where LendingStreet lands on each one: purchase up to 80% LTV and cash-out up to 75%; 1.0x standard minimum, with sub-1.0 programs; seasoning varies by program; LLCs are standard; we give you a timeline as soon as we review the file; and there is no stated maximum, with max LTV that can step down on large balances. Bridge loans that close in as little as 10 days are available if the seller needs speed.
Send the address, price, leases, utility setup and target loan amount. We will run the ratio at a few loan sizes and return options. Get a quote with the form below.
Have five or more Arizona rentals? A blanket portfolio loan may combine them. Buildings with 9 or more units are commercial; see our commercial page.
Our top pick is LendingStreet. We qualify Arizona duplexes, triplexes and fourplexes on combined rent with no tax returns, allow LLCs, offer up to 80% LTV to buy and 30-year terms, and lend statewide.
Yes. We make DSCR loans on investor-owned 2-4 unit rentals statewide in Arizona, and in all 50 states and DC.
Yes. Arizona requires residential rental properties to be registered with the county assessor. It is a simple filing, but do it after closing.
No real estate transfer tax beyond a small affidavit fee. Title, escrow and recording costs still apply, and we include them in your cash to close.
Vacant units can usually be counted at market rent supported by the appraisal. Signed leases on the occupied units help, and we will run the ratio both ways before you commit.
No. A DSCR loan qualifies on the property's rent. We look at credit (620 minimum), assets for the down payment and reserves, and the building's rent and expenses, not your W-2s or tax returns.
Yes. A DSCR rate-and-term refinance can replace a hard money, bridge or bank balloon loan at up to 80% LTV on some programs. Seasoning varies by program, so ask early.
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