4811 15Th AvePhoenix, AZ 85015

Property Details for 4811 15Th Ave

Year built

1958

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 18-unit apartment building, known as Palm Square, presents a compelling investment opportunity in Phoenix, Arizona. Located at 4811 N 15th Ave, 85015, this single-story community boasts 9,383 net rentable square feet spread across two buildings. Built in 1958 and extensively renovated in 2022, the property features a mix of studio, one-bedroom, and two-bedroom units averaging approximately 521 square feet. The $2,850,000 asking price reflects the significant $463,500 in capital improvements completed in 2022, exceeding $25,500 per unit. Premium finishes are featured in most units, attracting high-quality residents. The property showcases a desirable mid-century modern design with block construction and pitched roofs. Individual electric meters add to the efficiency. Its prime location in North Central Phoenix offers residents easy access to the vibrant Melrose District, known for its unique shops, restaurants, and entertainment. Proximity to the Park Central Mall Redevelopment and Creighton University Health Sciences Campus further enhances its appeal and potential for strong rental income. This meticulously maintained property is a rare find in a highly sought-after area. The APN is 155-44-069B & 155-44-071A.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.5076

Longitude

-112.091

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