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

Overview

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.

Listing Details MLS# 6917400

Location, Tax & Legal

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
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

Contract Info

Ownership: Condominium

General Property Description

Lot Size Dimensions: 180 x 120
Year Built: 2023
Uncvrd Parking Spcs: 5
Total # of Units: 8
# of Buildings: 2
Zoning: C-N
Elementary School District: Scottsdale Unified District
High School District: Scottsdale Unified District

Remarks Misc

Cross Street: 40th Street and Camelback
Directions: South to Property

Legal Info

Township: 2N
Range: 4E
Section: 19
Lot Number: 5

Income Expenses

Gross Annual Sch Inc: 528000
Net Operating Income: 579600

More Information

Showing Notification Methods

Showing Service: Aligned Showings

3 Bedrooms Units

# 3 Bedroom Units: 8
Avg Rent: 5500
Avg SqFt: 2500
# Baths: 3

Contact Info

List Agent Home Phn: 602-332-5812

Project Type

5 - 12 Units: Yes

Construction

Wood Frame: Yes

Const - Finish

Stucco: Yes

Roofing

Foam: Yes

Floors

Ceramic Tile: Yes

Sale Includes

Land & Building: Yes

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

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Natural Gas: Yes

Cooling

Central Air: Yes

Exterior Amenities

Green Landscaping: Yes
Patio/Balcony: Yes

Tenant Pays

Gas: Yes
Electricity: Yes

Appliances Included

Dishwasher: Yes
Disposal: Yes
Microwave: Yes
Refrigerator: Yes
Built-In Range: Yes
Washer/Dryer: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes
Books Shwn Accpt Ofr: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Garage: Yes

Electric

SRP: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Conventional: Yes

Reports/Disclosures

Seller Prop Disc Stm: Yes

Environmental

None: Yes

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

2 Bedroom Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

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