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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