I think the problem is in the Anaconda version that you are using. You should install Anaconda 2 (32 bit) not Anaconda 3 (32 bit). ArcGIS 10.4 works with python 2 which is 2.7 andwhich is included in Anaconda 2. ArcGIS 10.4 does not work with Python 3.6 aswhich is included in Anaconda 3 which you indicatedalready use and stated in your question.
I am using Anaconda 2 (32 bit) and specifically Spyder and I do not have any problem in importing arcpy module. I am setting up the following path in the environment:
C:\Program Files (x86)\ArcGIS\Desktop10.4\bin
C:\Program Files (x86)\ArcGIS\Desktop10.4\arcpy
C:\Program Files (x86)\ArcGIS\Desktop10.4\ArcToolBox\Scripts
Also please note that in this path: C:\Program Files (x86)\ArcGIS\Desktop10.4\arcpy
, arcpy should starts with small a
and p
not capital A
and P
as in your question.