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