4525 N 40TH Street, Phoenix, AZ 85018
$11,600,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$11,600,000
Last Modified:
9/10/2025
Description
8 brand new high end condos in the coveted Arcadia area known for great office, retail and restaurants. All 3 bed 3 bath 2 car garage Average about 2500 sq ft. Currently renting out for $5000/month-7000/month. Each unit has it's own private elevator.
More Information MLS# 6917400
Contract Info
Ownership: Condominium
Current Price: $11,600,000
List Price: $11,600,000
Status: Active
List Date: 2025-09-09
Location, Tax & Legal
Assessor's Map #: 19
Legal Description (Abbrev): LOT 5 LUXE ON 40TH MCR 133230
Assessor's Parcel #: 144
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 108200
Taxes: 44000
Legal: LUXE ON 40TH MCR 133230
Marketing Name: Luxe on 40th
House Number: 4525
Compass: N
Street Name: 40TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Zip4: 3645
County Code: Maricopa
Subdivision: LUXE ON 40TH
Assessor Number: 171-19-144
Tax Year: 2022
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 5
Lot Size Dimensions: 180 x 120
Total # of Units: 8
Elementary School District: Scottsdale Unified District
High School District: Scottsdale Unified District
Year Built: 2023
Zoning: C-N
Legal Info
Range: 4E
Section: 19
Township: 2N
Lot Number: 5
Project Type
5 - 12 Units: 1
Construction
Wood Frame: 1
Const - Finish
Stucco: 1
Roofing
Foam: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 2400
Annual Ins Exp: 3600
Annual Landscape Exp: 6700
Annual Legal & Acctg: 1200
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 5000
Owner Association: Yes
Annual Ownr Asoc Fee: 33600
Operating Exp: 96500
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 528000
Pmt & Rate Info
Cap Rate: 5
Equity: 11600000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Natural Gas: 1
Cooling
Central Air: 1
Exterior Amenities
Green Landscaping: 1
Patio/Balcony: 1
Tenant Pays
Gas: 1
Electricity: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Built-In Range: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Books Shwn Accpt Ofr: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Garage: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Conventional: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Contact Info
List Agent Home Phn: 602-332-5812
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
# 3 Bedroom Units: 8
Avg Rent: 5500
Avg SqFt: 2500
# Baths: 3
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: 40th Street and Camelback
Directions: South to Property
Geo Lat: 33.503495
Geo Lon: -111.994988
Income Expenses
Gross Annual Sch Inc: 528000
Net Operating Income: 579600
Property Features
Project Type: 5 - 12 Units
Construction: Wood Frame
Const - Finish: Stucco
Roofing: Foam
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Green Landscaping; Patio/Balcony
Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer
Heating: Natural Gas
Cooling: Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: Garage
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Gas
Source of Fincl Data: Owner; Books Shwn Accpt Ofr
Lockbox Type: None
New Financing: Conventional
Environmental: None
Listing Office: Network Realty
Last Updated: September - 10 - 2025
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