4811 N 15th Avenue Phoenix, AZ $ 2,800,000
4811 N 15th Avenue
$ 2,800,000
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4811 N 15th Avenue

Phoenix, AZ, 85015
$ 2,800,000
Baths0.0

Monthly Estimate*

$ 19,559

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Studio

Multi-Family Home for sale in Phoenix, AZ

for $2,800,000. This home was built in 1958.

Advantageously situated directly north of Midtown's Melrose Arts District , Palm Square (''the property'') is an 18-unit community primely located in Central Phoenix. With the convenience and proximity of the Interstate 17 Freeway and State Route 51, two of The Valley's major transportation arteries, residents are provided direct access to nearly any destination across The Valley within a desirable commute time. A number of the most prominent employment and entertainment corridors in the state are just a short drive away. The Innovation Employment Corridor, which runs down Central Avenue, provides employment opportunities from some of the most prolific companies in Arizona such as Banner Health and IBM. In addition, Palm Square is just two miles from Grand Canyon University, the largest Christian university in the nation, with an on-campus enrollment of ±25,000 students and online enrollment of ±90,000 students. Built in 1958 Palm Square is comprised of 6 studio, 10 one-bedroom, and 2 two-bedroom floorplans. The entire community's exterior has been renovated with new paint, landscaping, and electrical. In addition, 15 of the 18 unit's interiors have been renovated with new appliances, countertops, cabinets, flooring, fixtures, hardware, and individual washer/dryer.

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Multi-Family Active

Price

$ 2,800,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 4,295

Style

Multiple Dwellings

Year Built

1958

Town/City

Phoenix

County/Region

Maricopa

MLS | Web ID

6646469

Features
General
Sewer Public Sewer
Heating Individual Ceiling
Cooling Individual Electric Ceiling Fan(s)
Roof Composition
Zoning R-4
Construction Materials Painted Stucco Block Brick Frame - Wood
Year Built 1958
Electric SRP
Tenant Pays Electricity
Tax Year 2022
Percent Ownership Fee Simple
Gross Income 245001.2
Community Features Barbecue No Pool
County Maricopa
Net Operating Income 169196.0
Operating Expense 74540.0
Insurance Expense 6304.0
Property Type Multiple Dwellings
Attached Garage N
Subdivision Name COX ESTATES 2
Garage Y/N N
Status Active
City Phoenix
Buyer Agent Compensation 1.50
Disclosures None
View Y/N N
High School District Phoenix Union High School District
Open Parking Spaces 3.0
Total Units 18
Lot Size Square Feet 0.0
Carport Y/N N
Street Name 15th
Tax Annual Amount 4295.0
Electric Expense 16667.0
Fuel Expense 0.0
Trash Expense 0.0
Water Sewer Expense 0.0
Lease Renewal Y/N N
Additional Parcels Y/N Y
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 112
Standard Status Active
Elementary School District Osborn Elementary District
Tax Lot 64
Cap Rate 6.04
Buyer Agent Compensation Type %
New_sp_Financing_co_Conventional5 True
Ownership Fee Simple
Senior Community N
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Interior
Flooring Vinyl Wood
Air Conditioning Y/N Y
Heating Y/N Y
Street Suffix Avenue
Electric On Property Y/N N
Total Baths 0
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Exterior
Parking Features >1 Space Per Unit
Water Source Private Franchise
Total Parking 20.0
Lot Size Area 0.0
Number of Buildings 2
Spa N
Lot Dimensions 15105
Lot Size Acres 0.0
Road Surface Type Asphalt
Covered Spaces 17.0
Crops Included Y/N N
Open Parking Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 4811
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* Excluded Features
List By
Marcus & Millichap

Broker

paul.bay@marcusmillichap.com

Email

Affordability Calculator

$19,917
Per Month
98%
2%
0%
Monthly Principal & Interest
$19,559
Monthly Property Taxes
$358
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
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Nearby
4327165 Elementary School
4327058 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
1/5/2024$2,800,000 Listed Price

Map


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4811 N 15th Avenue, Phoenix, AZ, 85015 is a Multi-Family Home for sale at $2,800,000. 4811 N 15th Avenue is a studio with 0.0 baths and was built in 1958. The property's zip code is 85015 which is in Phoenix, AZ