$2,149,995
$50K PRICE DROP

Estimated payment $13,864/month

Total Views 2,500
-- 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

Exceptional opportunity to acquire a brand-new 4-unit multifamily building with a projected 5%+ cap in a prime Central Phoenix location—just minutes from downtown, major freeways, shopping, dining, and entertainment. Each spacious residence offers 4 bedrooms, 3.5 baths, and a loft-style den. Homes include direct-access 2-car garages, private fenced backyards, and modern stone-accented exteriors. Interiors feature 9-foot ceilings, two ensuite bedrooms in each unit, and modern finishes such as quartz countertops, 42'' white cabinets, stainless steel appliances, and full window coverings. Two units are already leased, providing immediate income. Builder may guarantee rents for up to 3 months. Full builder's warranties are included. With high bedroom count, this property is well-suited for traditional rentals or specialty housing such as behavioral health or sober living operations.

Listing Agent

Dean Selvey

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

RE/MAX Excalibur

Property Details

Home Type

  • Multi-Family

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 155-08-199-A

Community Details

Overview

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

Building Details

  • Operating Expense $9,291
  • Gross Income $134,579
  • Net Operating Income $109,900

Property Details

Home Type

Multi-Family

Year Built

Built in 2025

Lot Details

0

Listing Details

  • Cross Street: 16 T Street/ Campbell
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 2
  • Ownership: Fee Simple
  • Year Built: 2025
  • Tax Year: 2025
  • Road Surface Type: Asphalt, Concrete
  • Professional Management Expense: 400.0
  • 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
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes
  • Interior Amenities:Breakfast Bar2: Yes

Fee Information

  • Trash Expense: 1000.0

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 #: 155-08-199-A

Multi Family

  • Owner Pays: Landscaping
  • Number Of Units Total: 4
  • Annual Gross Income: 134578.6
  • Insurance Expense: 2000.0
  • Maintenance Expense: 4485.0
  • Property Net Operating Income: 109900.0
  • Annual Operating Expense: 9291.0
  • Vacancy Allowance Rate: 0.04

Tax Info

  • Tax Book Number: 155.00
  • Tax Lot: N/A

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
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
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)

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6889404

Arizona Regional Multiple Listing Service (ARMLS)

APN: 155-08-069A