37 W Medlock Drive, Phoenix, AZ 85013 (MLS# 6914357)

37 W Medlock Drive, Phoenix, AZ 85013

$3,200,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $3,200,000 Last Modified: 11/22/2025

Overview

Description

Advantageously positioned just north of the Central Avenue and Camelback Road intersection, hidden within one of Central Phoenix's affluent residential areas is a 13-unit apartment community, Medlock Place (''the property''). Conveniently located in the heart of the historic uptown submarket, its nearby proximity to one of The Valley's major transportation arteries, State Route 51, affords residents direct access and simple passage to nearly any destination across The Valley. Positioned minutes from a long-standing landmark of Phoenix, Uptown Plaza blends mid-century modern charm with the high-rises that line both sides of Central Avenue.

Supplements: Anchoring the gateway to North Central Phoenix's historic core, Medlock Place presents outstanding walkable access to a mix of the best local and national retailers and restaurants including The Henry, Chula Seafood, Shake Shack, AJ's, and West Elm. Recognized by its sprawling residential estates and scarcity of developable land, Uptown Phoenix off ... (Read more)

Listing Details MLS# 6914357

Location, Tax & Legal

House Number: 37
Compass: W
Street Name: Medlock
St Suffix: Drive
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85013
Country: US
County Code: Maricopa
Assessor Number: 162-23-084
Tax Year: 2025
Assessor's Map #: 23
Assessor's Parcel #: 84
Add'l Parcels: No
Tax Municipality: Phoenix
Taxes: 7719
Legal: MEDLOCK PL AMD
Marketing Name: Medlock Place

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 0.45
Year Built: 1959
Uncvrd Parking Spcs: 20
Total # of Units: 13
# of Buildings: Yes
Zoning: R-3
Elementary School District: Madison Elementary District
High School District: Phoenix Union High School District

Status Change Info

Off Market Date: 2025-09-19
Under Contract Date: 2025-09-19
Close of Escrow Date: 2025-11-21

Legal Info

Lot Number: 45

More Information

Income Expenses

Gross Annual Sch Inc: 245916
Net Operating Income: 188078

Showing Notification Methods

Showing Service: Aligned Showings
Text: Yes

Efficiency Units

# Efficiency Units: 2
Avg Rent: 983
Avg SqFt: 200
# Baths: 2

1 Bedroom Units

# 1 Bedroom Units: Yes
Avg Rent: 1450
Avg SqFt: 650
# Baths: 2

2 Bedroom Units

# 2 Bedroom Units: 10
Avg Rent: 1613
Avg SqFt: 900
# Baths: 10

Sold Info

Loan Type: Conventional
Loan Years: 10
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

13 - 24 Units: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Composition: Yes

Floors

Vinyl: Yes
Ceramic Tile: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Annual Elec Exp: 23412
Annual Ins Exp: 5101
Annual Landscape Exp: 7823
Annual Legal & Acctg: 3900
Annual Maint Exp: 5850
Annual Mgmt Exp: 10444
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Rplcmnt Rsrvs: 3250
Annual Other Expense: 5525
Operating Exp: 73024
Other Income: 29940
Vacancy Allowance: 0.06
Adjusted Gross Inc: 259304.64

Pmt & Rate Info

Cap Rate: 5.56
Equity: 3380000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

Pool: Yes

Heating

Electric: Yes

Cooling

Electric: Yes

Exterior Amenities

Green Landscaping: Yes

Tenant Pays

Electricity: Yes

Appliances Included

Dishwasher: Yes
Microwave: Yes
Refrigerator: Yes
Free-Standing Range: Yes
Washer/Dryer: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

>1 Space Per Unit: Yes

Electric

SRP: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Trash Collection: Yes
Landscaping: Yes
Pool Maintenance: Yes

New Financing

Cash: Yes
Conventional: Yes
1031 Exchange: Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 13 - 24 Units Construction: Block Const - Finish: Painted; Stucco Roofing: Composition Floors: Vinyl; Ceramic Tile Sale Includes: Land & Building Community Features: Pool Exterior Amenities: Green Landscaping Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer Cooling: Electric Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: >1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping; Pool Maintenance Tenant Pays: Electricity Source of Fincl Data: Owner Showing Notification Methods: Text Lockbox Type: None New Financing: Cash; Conventional; 1031 Exchange Environmental: None

Listing Office: Marcus & Millichap

Last Updated: November - 22 - 2025