8-Unit Apartment
4119 N 11th Ave Phoenix, AZ 85013
For Sale
Contact for pricing
Eight-unit multifamily community north of Indian School Road on 11th Avenue in Midtown Phoenix.
Property Size5,400 SF
Price / SF$295.37
Days on Market179
Property Features for 4119 N 11th Ave
General Information
Standard status
Active
Size
5,400 SF
Property subtype
Multifamily
Building Details
Year Built
1958
Listing Agency:
Marcus & Millichap - Phoenix
Listed By:
Paul Bay · License #AZ SA671037000
Source:
Crexi
Added: Jan 30
Changed: Jul 23
Last Checked: Jul 26 at 1:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Phoenix
Investment Insights
Based on property information with market context.
Villa at Melrose is an eight-unit multifamily community located north of Indian School Road on 11th Avenue. The property is positioned just east of Central Phoenix’s largest major employment corridor and is situated in the Midtown submarket.
Nearby access to State Route 51 provides residents direct passage across the Valley. The area is also described as offering walkable access to a mix of local and national retailers and restaurants, including Sprouts, Natural Grocers, Valentine, Clever Koi, AJ’s, and West Elm.
As a compact apartment community, Villa at Melrose provides a straightforward multifamily configuration for investors or operators seeking an income-producing property in North Central Phoenix.
Nearby access to State Route 51 provides residents direct passage across the Valley. The area is also described as offering walkable access to a mix of local and national retailers and restaurants, including Sprouts, Natural Grocers, Valentine, Clever Koi, AJ’s, and West Elm.
As a compact apartment community, Villa at Melrose provides a straightforward multifamily configuration for investors or operators seeking an income-producing property in North Central Phoenix.
Key Highlights
- 8‑unit multifamily community built in 1958
- Located north of Indian School Road on 11th Avenue in Midtown Phoenix
- Positioned just east of Central Phoenix’s largest major employment corridor
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $121.8k | $22.56 |
| − Vacancy | −$7.3k | −$1.35 |
| EGI | $114.5k | $21.21 |
| − OpEx | −$51.5k | −$9.54 |
| NOI | $63.0k | $11.66 |
5,400 SF · lease $22.56/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$899.8K
$787.3K – $1.05M
NOI $62,983 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,499 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Multifamily property - Eight-unit multifamily community north of Indian School Road on 11th Avenue in Midtown Phoenix.
Where is this multifamily property located?
The property is located at 4119 N 11th Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: 8‑unit multifamily community built in 1958; Located north of Indian School Road on 11th Avenue in Midtown Phoenix; Positioned just east of Central Phoenix’s largest major employment corridor
