4815 N 15TH Avenue, Phoenix, AZ 85015

$2,999,000
Property Type: Multiple Dwellings Bedrooms: 32 Baths: 24 Status: Active
Current Price: $2,999,000 Last Modified: 8/27/2026

Overview

Description

Palm Square 24 is located at 15th and Camelback, in the heart of Phoenix, just a 1 mile+ to Uptown Plaza & the Melrose District. Addresses include 4819, 4815, & 4811. Under $125,000/door & less than $200/sq ft. Unit mix consists of (8) very large 2 bed units; (10) 1 bed units; & (6) large studio units (15,000 total sq ft). The complex underperformed in 2025 with a low NOI. However, Palm Square 24 is now 100% occupied with $21,200 gross rents in place for August 2026. Forward pro forma close to a 6 CAP. The complex went through many significant renovations over the last 5 years. Many units include in-suite washer/dryer sets & upgraded electrical systems. Lots of storage-additional density potential. Ample parking with carports. Ability to control 1.09 acres in an OZ in Uptown PHX.

Listing Details MLS# 7072051

Location, Tax & Legal

House Number
4815
Compass
N
Street Name
15TH
St Suffix
Avenue
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85015
Zip4
3629
Country
US
County Code
Maricopa
Subdivision
COX ESTATES 2
Assessor Number
155-44-069-B
Tax Year
2025
Assessor's Map #
44
Legal Description (Abbrev)
LOT 64 COX ESTATES 2 MCR 007242
Assessor's Parcel #
69
Assessor Parcel Ltr
B
Add'l Parcels
Yes
Tax Municipality
Phoenix
Census Tract
108902
Taxes
7236
Legal
LOT 62, 64, 65 COX ESTATES 2 MCR 007242 (3 parcels)
Marketing Name
Palm Square 24

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
1.09 acres
Year Built
1958
Uncvrd Parking Spcs
8
Total # of Units
24
# of Buildings
6
Zoning
R-4
Flood Zone
No
Elementary School District
Osborn Elementary District
High School District
Phoenix Union High School District

Remarks Misc

Cross Street
15th Ave and Camelback
Directions
Just south of Camelback on the east side of 15th Ave.

Legal Info

Township
2N
Range
3E
Section
19
Lot Number
64

Efficiency Units

# Efficiency Units
6
Avg Rent
682
Avg SqFt
427
# Baths
Yes

More Information

1 Bedroom Units

# 1 Bedroom Units
10
Avg Rent
791
Avg SqFt
540
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
8
Avg Rent
1044
Avg SqFt
880
# Baths
Yes

Structure

Bedrooms Total
32
Bathrooms Total
24

Income Expenses

Gross Annual Sch Inc
254400
Net Operating Income
177660

Showing Notification Methods

Showing Service
No Showing Service Used

Project Type

13 - 24 Units
Yes

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Other Type

Packaged Offering
Yes

Construction

Block
Yes

Const - Finish

Painted
Yes
Other (See Remarks)
Yes

Roofing

Composition
Yes

Floors

Tile
Yes
Vinyl
Yes
Carpet
Yes

Sale Includes

Land & Building
Yes
Other (See Remarks)
Yes

Income & Expenses

Annual Elec Exp
0
Annual Ins Exp
0
Annual Landscape Exp
0
Annual Maint Exp
0
Annual Trash Exp
0
Owner Association
No
Annual Ownr Asoc Fee
0
Annual Rplcmnt Rsrvs
0
Annual Other Expense
69504
Operating Exp
76740
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
254400
Total Monthly Rental Income
21200

Pmt & Rate Info

Cap Rate
5.92
Equity
2999000
Down Payment %
0
Monthly Payments
0
Total Owed
0

Lockbox Type

See Private Remarks
Yes
None
Yes

Community Features

No Pool
Yes
Barbecue
Yes
Other
Yes
See Remarks
Yes

Heating

Forced Air
Yes
Heat Pump
Yes
Individual
Yes

Cooling

Electric
Yes
Individual
Yes

Exterior Amenities

Green Landscaping
Yes
Desert Landscaping
Yes
Partially Fenced
Yes
Cable TV Available
Yes
Patio/Balcony
Yes
Separate Storage
Yes
Security Light(s)
Yes
Other (See Remarks)
Yes

Interior Features

Fire/Smoke Alarm(s)
Yes
Other (See Remarks)
Yes

Tenant Pays

Electricity
Yes
Other (See Remarks)
Yes

Appliances Included

Refrigerator
Yes
Free-Standing Range
Yes
Washer/Dryer
Yes
W/D Hookup
Yes
See Remarks
Yes

Road Access Type

City Street
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Owner
Yes
Projected Proforma
Yes
Other (See Remarks)
Yes

Road Responsibility

City Maintained Road
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

>1 Space Per Unit
Yes

Electric

SRP
Yes

Gas

None
Yes

Owner Pays

Water
Yes
Sewer
Yes
Trash Collection
Yes
Landscaping
Yes
Other
Yes

New Financing

Cash
Yes
Conventional
Yes

Existing 1st Loan

Conventional
Yes

Existing 1st Loan Type

Not Applicable
Yes

Existing 1st Loan Terms

Not Applicable
Yes

Existing 2nd Loan

Treat as Free&Clear
Yes

Existing 2nd Loan Type

Not Applicable
Yes

Existing 2nd Loan Terms

Not Applicable
Yes

Existing 3rd Loan

Treat as Free&Clear
Yes

Existing 3rd Loan Type

Not Applicable
Yes

Reports/Disclosures

Seller Prop Disc Stm
Yes
Other (See Remarks)
Yes

Existing 3rd Loan Terms

Not Applicable
Yes

Environmental

None
Yes

Existing Othr Ln Trm

Not Applicable
Yes

Property Features

Project Type: 13 - 24 Units Other Type: Packaged Offering Construction: Block Const - Finish: Painted; Other (See Remarks) Roofing: Composition Floors: Tile; Vinyl; Carpet Sale Includes: Land & Building; Other (See Remarks) Community Features: No Pool; Barbecue; Other; See Remarks Exterior Amenities: Green Landscaping; Desert Landscaping; Partially Fenced; Cable TV Available; Patio/Balcony; Separate Storage; Security Light(s); Other (See Remarks) Interior Features: Fire/Smoke Alarm(s); Other (See Remarks) Appliances Included: Free-Standing Range; Refrigerator; Washer/Dryer; W/D Hookup; See Remarks Heating: Forced Air; Individual; Heat Pump Cooling: Electric; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: >1 Space Per Unit Road Access Type: City Street Road Surface Type: Asphalt Road Responsibility: City Maintained Road Owner Pays: Water; Trash Collection; Landscaping; Other Tenant Pays: Electricity; Other (See Remarks) Source of Fincl Data: Owner; Projected Proforma; Other (See Remarks) Lockbox Type: See Private Remarks; None Existing 1st Loan: Conventional Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Cash; Conventional Environmental: None
IDX
Listing Office: Better Homes & Gardens Real Estate SJ Fowler
Last Updated: August - 27 - 2026
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