4811 N 15th Avenue Phoenix, AZ $ 2,400,000
4811 N 15th Avenue
$ 2,400,000
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4811 N 15th Avenue

Phoenix, AZ, 85015
$ 2,400,000
Baths0.0

Monthly Estimate*

$ 14,777

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Studio

Multi-Family Home for sale in Phoenix, AZ

for $2,400,000. 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, roof, windows, and select mechanical (HVAC 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

$ 2,400,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 4,286

Style

Multiple Dwellings

Year Built

1958

Town/City

Phoenix

County/Region

Maricopa

MLS | Web ID

6992561

Features
General
Sewer Public Sewer
Heating Individual
Cooling Individual
Roof Composition Tile
Zoning R-4
Construction Materials Painted Block
Year Built 1958
Electric SRP
Tax Year 2025
Ownership Fee Simple Fee Simple
Gross Income 227859.3
Community Features No Pool
County Maricopa
Net Operating Income 141099.0
Operating Expense 90167.0
Insurance Expense 6513.0
New Construction N
Property Type Multiple Dwellings
Attached Garage N
MaintenanceExpense 15064.0
Garage Y/N N
Status Active
City Phoenix
Disclosures None
Open Parking Spaces 3.0
Number Of Units Total 18
Carport Y/N N
Tax Annual Amount 4286.0
Electric Expense 16258.0
Lease Renewal Y/N N
Additional Parcels Y/N Y
Lease Considered Y/N N
Rent Control Y/N N
Standard Status Active
Tax Lot 64
Cap Rate 5.88
New Financing: Conventional True
Senior Community N
New Financing: Cash True
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Interior
Flooring Tile Carpet Vinyl
Air Conditioning Y/N Y
Heating Y/N Y
Total Baths 0
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Exterior
Parking Features 1 Space/Unit
Water Source City Franchise
Total Parking 20.0
Number of Buildings 2
Spa N
Lot Dimensions 0.67
Road Surface Type Asphalt
Covered Spaces 17.0
Crops Included 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

$15,134
Per Month
98%
2%
0%
Monthly Principal & Interest
$14,777
Monthly Property Taxes
$357
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% 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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Nearby
260072 Elementary School
263420 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
3/3/2026$2,400,000 Listed Price

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4811 N 15th Avenue, Phoenix, AZ, 85015 is a Multi-Family Home for sale at $2,400,000. 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