Address
4811 N 15th Avenue, Phoenix, AZ
Price
$ 2,800,000
Property Attributes
  • MLS#6646469
  • TypeMulti-Family
  • CountyMARICOPA
  • CityPhoenix
  • NeighborhoodCOX ESTATES 2
  • Zip85015
  • StyleMultiple Dwellings
  • Year Built1958
  • Taxes$ 4295
  • Price$ 2,800,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
Data Source:
Arizona Regional MLS (ARMLSN)
Property Description

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.

Price History
1/5/2024 Listed $2,800,000

General Features

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
OwnerPays Trash Collection,Water,Sewer,Landscaping
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 No
MaintenanceExpense 12653.0
Subdivision Name COX ESTATES 2
Garage Y/N No
Status Active
City Phoenix
Buyer Agent Compensation 1.50
Disclosures None
View Y/N No
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 No
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 No
Additional Parcels Y/N Yes
Lease Considered Y/N No
Rent Control Y/N No
Days on Market 98
Standard Status Active
Elementary School District Osborn Elementary District
Tax Lot 64
Cap Rate 6.04
MobileHomeRemainsYN No
Buyer Agent Compensation Type %
New_sp_Financing_co_Conventional5 True
Ownership Fee Simple
Senior Community No

Interior Features

Flooring Vinyl,Wood
Air Conditioning Y/N Yes
Heating Y/N Yes
Street Suffix Avenue
Electric On Property Y/N No

Exterior Features

Parking Features >1 Space Per Unit
Water Source Private Franchise
Total Parking 20.0
Lot Size Area 0.0
Number of Buildings 2
Spa No
Lot Dimensions 15105
Lot Size Acres 0.0
Road Surface Type Asphalt
Covered Spaces 17.0
Crops Included Y/N No
Open Parking Y/N No
Irrigation Water Rights Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 85015

Year Built
AVG 1981
1958

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