$1,975,000
$225K PRICE DROP

Estimated payment $10,450/month

Total Views 3,709
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

Highlights

  • Ceramic Tile Flooring
  • Central Air
  • Individual Controls for Heating
  • Phoenix Coding Academy Rated A

About This Home

Fully Leased, Stabilized 4-Plex - Brand New Construction in Central Phoenix!
Exceptional opportunity to acquire a newly built, fully leased, income-producing 4-unit investment property in the heart of Central Phoenix. All four residences are identical, highly desirable floorplans featuring 4 bedrooms, 3.5 baths, a loft-style den, direct-access 2-car garage, and private fenced backyard—a rare combination in the rental market and ideal for long-term stability. Modern architecture pairs with designer-selected interiors including 9' ceilings, quartz countertops, 42'' white cabinetry, stainless steel appliances, upgraded fixtures, and full window coverings. Positioned minutes from downtown Phoenix, major freeways, shopping, dining, and entertainment, this turnkey asset delivers impressive per With its high bedroom count & modern design, this property is ideal for traditional rentals, corporate housing, or specialty use such as behavioral health or sober living.

Listing Agent

Dean Selvey

RE/MAX Excalibur License #SA020464000 Listed on: 07/07/2025

RE/MAX Excalibur

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,106

Year Built

  • Built in 2025

Lot Details

  • Additional Parcels

Home Design

  • Wood Frame Construction
  • Foam Roof
  • Stucco

Flooring

  • Carpet
  • Ceramic Tile

Parking

  • 4 Open Parking Spaces
  • 12 Parking Spaces
  • 8 Covered Spaces

Schools

  • Madison Camelview Elementary School
  • Madison #1 Elementary Middle School
  • North High School

Utilities

  • Central Air
  • Individual Controls for Heating

Listing and Financial Details

  • Assessor Parcel Number 155-08-069-A

Community Details

Overview

  • 2 Buildings
  • 4 Units
  • Building Dimensions are 16,200

Building Details

  • Operating Expense $11,591
  • Gross Income $135,763
  • Net Operating Income $135,882

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,106

Year Built

Built in 2025

Lot Details

0

Listing Details

  • Cross Street: 16th Street/ Campbell
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 2
  • Ownership: Fee Simple
  • Year Built: 2025
  • Tax Year: 2025
  • Garage Yn: Yes
  • Tax Parcel Letter: A
  • Cooling:Central Air: Yes
  • Construction:Wood Frame: Yes
  • Water Source City Franchise2: Yes
  • Special Features: NewHome
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile
  • Appliances: Free-Standing Range, Disposal, Dishwasher, Refrigerator, Microwave, Washer/Dryer
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes
  • Appliances Included:Disposal2: Yes

Exterior Features

  • Disclosures: Development Plan Avl
  • Construction Type: Wood Frame, Stucco
  • Roof: Foam

Garage/Parking

  • Total Covered Spaces: 8.0
  • Open Parking Spaces: 4.0
  • Total Parking Spaces: 12.0
  • General Property Description:Covered Parking Spcs: 8.0
  • General Property Description:Uncvrd Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 12.0
  • Parking Features:Garage: Yes

Utilities

  • Electric: SRP
  • Cooling: Central Air, Electric
  • Heating: Individual, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Heating:Individual: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Exterior Amenities:Desert Landscaping: Yes

Fee Information

  • Annual Water Sewer Expense: 350.0

Schools

  • Elementary School: Madison Camelview Elementary
  • High School: North High School
  • Junior High Dist: Phoenix Union High School District
  • Middle Or Junior School: Madison #1 Elementary School

Lot Info

  • Lot Size: 16,200
  • Additional Parcels: Yes
  • Parcel #: 155-08-069-A

Multi Family

  • Owner Pays: Landscaping
  • Number Of Units Total: 4
  • Electric Expense: 650.0
  • Annual Gross Income: 135762.6
  • Insurance Expense: 3000.0
  • Maintenance Expense: 2085.0
  • Property Net Operating Income: 135882.0
  • Annual Operating Expense: 11591.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 1106.0
  • Tax Book Number: 155.00
  • Tax Lot: N/A

Map

Range of Values:

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Value Increase
--
Percent Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $1,068 $8,412 $8,412 --
2023 $1,068 $31,110 $31,110 $0
2022 $1,036 $22,965 $22,965 $0
2021 $1,045 $19,830 $19,830 $0
2020 $1,029 $16,110 $16,110 $0
2019 $1,006 $10,965 $10,965 $0
2018 $981 $10,125 $10,125 $0
2017 $1,092 $11,560 $2,310 $9,250
2016 $1,054 $10,220 $2,040 $8,180
2015 $979 $9,550 $1,910 $7,640
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
12/02/2025 12/02/25 Price Changed $1,975,000 -1.2% --
10/27/2025 10/27/25 Price Changed $1,999,999 -2.9% --
09/29/2025 09/29/25 Price Changed $2,060,000 -4.2% --
08/06/2025 08/06/25 Price Changed $2,149,995 -2.3% --
07/07/2025 07/07/25 For Sale $2,200,000 +2616.0% --
04/23/2015 04/23/15 Sold $81,000 -18.2% $70 / Sq Ft View Prior Sale
04/22/2015 04/22/15 Pending -- -- --
04/21/2015 04/21/15 For Sale $99,000 0.0% $85 / Sq Ft
04/21/2015 04/21/15 Price Changed $99,000 +22.2% $85 / Sq Ft
03/13/2015 03/13/15 Off Market $81,000 -- --
03/13/2015 03/13/15 Pending -- -- --
03/09/2015 03/09/15 Price Changed $89,000 -10.1% $77 / Sq Ft
02/27/2015 02/27/15 For Sale $99,000 -- $85 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Purchase History

Date Type Sale Price Title Company
Warranty Deed $323,000 New Title Company Name
Warranty Deed $255,000 Empire West Title
Warranty Deed $255,000 Empire West Title
Warranty Deed -- Driggs Title Agency Inc
Warranty Deed $125,000 Fidelity Natl Ttl Agcy Inc
Deed -- Clear Title Agency Of Arizon
Warranty Deed $81,000 First American Title
Warranty Deed $80,000 Magnus Title Agency
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $1,112,000 New Conventional
Previous Owner $213,750 New Conventional
Previous Owner $140,000 Commercial
Previous Owner $110,000 Commercial
Previous Owner $56,700 Stand Alone First
Previous Owner $56,000 Commercial
Source: Public Records

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6889404

Arizona Regional Multiple Listing Service (ARMLS)

APN: 155-08-069A