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4119 N 11th Avenue, Phoenix, AZ 85013
Overview
Description
Supplements: ... (Read more) Anchoring the gateway to North Central Phoenix's historic core, Villa at Melrose presents outstanding walkable access to a mix of the best local and national retailers and restaurants including Sprouts, Natural Grocers, Valentine, Clever Koi, AJ's, and West Elm. Ample employment opportunities are found through the nearby Innovation Employment Corridor, Arizona's economic driving force, boasting more than ±171,000 total professionals dispersed across its Midtown and Downtown Phoenix setting occupying a diverse range of industries from business services and finance to healthcare, education, and government services. Completed in 1958, and fully renovated in 2023, Villa at Melrose is comprised of 4 one-bedroom (50%) and 4 two-bedroom (50%) floorplans, offering an average of ±675 square feet per unit. All units have been fully renovated with new countertops, cabinets, stainless steel appliances, upgraded electrical panels and in-unit washer/dryers (select units). In addition, the entire community exterior and common area has been upgraded including new landscaping, exterior paint, common area, and roof. Future ownership will have the opportunity to receive enhanced operational performance and desirability resulting from the property's centralized location with immediate access to desirable amenities such as schools, retail and major employment corridors.
Listing Details MLS# 6972550
Location, Tax & Legal
- House Number
- 4119
- Compass
- N
- Street Name
- 11th
- St Suffix
- Avenue
- City/Town Code
- Phoenix
- State/Province
- AZ
- Zip Code
- 85013
- Country
- US
- County Code
- Maricopa
- Assessor Number
- 155-39-093-G
- Tax Year
- 2025
- Assessor's Map #
- 39
- Assessor's Parcel #
- 93
- Assessor Parcel Ltr
- G
- Add'l Parcels
- No
- Tax Municipality
- Phoenix
- Taxes
- 2723
- Legal
- DEL MONTE NORTH TR B EX E 575ft and EX S 125ft
- Marketing Name
- Villa at Melrose
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 0.26
- Year Built
- 1958
- Total # of Units
- 8
- # of Buildings
- Yes
- Zoning
- R-3
- Uncvrd Parking Spcs
- 0
Legal Info
- Lot Number
- Yes
Income Expenses
- Gross Annual Sch Inc
- 111868
- Net Operating Income
- 69652
More Information
Showing Notification Methods
- Showing Service
- Aligned Showings
1 Bedroom Units
- # 1 Bedroom Units
- 4
- Avg Rent
- 1012
- Avg SqFt
- 600
- # Baths
- 4
2 Bedroom Units
- # 2 Bedroom Units
- 4
- Avg Rent
- 1318
- Avg SqFt
- 750
- # Baths
- 4
Project Type
- 5 - 12 Units
- Yes
Construction
- Block
- Yes
Const - Finish
- Painted
- Yes
Roofing
- Composition
- Yes
Floors
- Tile
- Yes
- Vinyl
- Yes
Sale Includes
- Land & Building
- Yes
Income & Expenses
- Annual Elec Exp
- 4835
- Annual Ins Exp
- 4000
- Annual Landscape Exp
- 3200
- Annual Legal & Acctg
- 2400
- Annual Maint Exp
- 7033
- Annual Mgmt Exp
- 4467
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Annual Rplcmnt Rsrvs
- 2000
- Annual Other Expense
- 11368
- Operating Exp
- 42026
- Other Income
- 10996
- Vacancy Allowance
- 0.08
- Adjusted Gross Inc
- 113034.88
Pmt & Rate Info
- Cap Rate
- 4.22
- Equity
- 1650000
- Down Payment %
- 0
- Monthly Payments
- 0
- Total Owed
- 0
Lockbox Type
- None
- Yes
Community Features
- No Pool
- Yes
Heating
- Individual
- Yes
Cooling
- Individual
- Yes
Exterior Amenities
- Desert Landscaping
- Yes
Tenant Pays
- Electricity
- Yes
Appliances Included
- Dishwasher
- Yes
- Free-Standing Electric Oven
- Yes
- Microwave
- Yes
- Refrigerator
- Yes
- Washer/Dryer
- Yes
- W/D Hookup
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Owner
- Yes
Water Source
- City Franchise
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- On Street
- Yes
- 1 Space/Unit
- Yes
Electric
- SRP
- Yes
Gas
- SW Gas
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Trash Collection
- Yes
- Landscaping
- Yes
New Financing
- Cash
- Yes
- Conventional
- Yes
- 1031 Exchange
- Yes
Reports/Disclosures
- None
- Yes
Environmental
- None
- Yes
Efficiency Units
- Avg Rent
- 0
3 Bedrooms Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
Property Features