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Property profile & analytics
FOR SALE
Assisted living facilities
1522 W Myrtle Ave, Phoenix, AZ 85021
Trust Owned
Free & Clear
Property ID
US07-1600215
For Sale
1 / 42
$1,795,000
1522 W Myrtle Ave, Phoenix, AZ 85021
View Listing →
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1956
Construction
CONCRETE
Total area
5,038 SF
Lot
0.89 ac (38,943 SF)
Zoning code
R1-6
APN
157-13-002C
UPID
US07-1600215
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.65M
Blend (final)
Blend
$1.68M
Owner & transaction history
Ellis Family Trust
Ellis Family Trust
since 2025
Last sale
$1.7M
3 recorded transactions
Zoning & alternative use
R1-6 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.7M
+135.7%
Auto repair, garage
$2.1M
+86.5%
Office building
$1.8M
+59.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Phoenix submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Phoenix submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,950,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$1,140,000
Current use
RESTAURANT
$2,690,000
Change: +136% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,130,000
Change: +87% · Conversion: Difficult
OFFICE BUILDING
$1,825,000
Change: +60% · Conversion: Difficult
RETAIL STORES
$1,500,000
Change: +32% · Conversion: Difficult
MEDICAL BUILDING
$1,335,000
Change: +17% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,310,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$1.68M
Range $1.51M – $1.84M · ±10% · vs last sale $1.70M (May 22 2023)
Last sale anchor
$1.70M
May 22 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$332 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$9,712
Tax year 2022
Assessed value
$175,452
Assessed 2024
Previous assessed
$147,495
+19.0% YoY
Effective rate
5.54%
On assessed value
Land market value
$544,600
Improvement market value
$625,077
Total market value
$1,169,677
Applied tax rate
61,300.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
For Sale
Year built
1956
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
3
Stories
1
Rooms
20
Total area
5,038 SF
Lot
0.89 ac (38,943 SF)
Zoning code
R1-6
APN
157-13-002C
UPID
US07-1600215
Jurisdiction
MARICOPA
Zoning & alternative use
R1-6 · Phoenix, AZ
Zoning R1-6 · permitted uses
R1-6 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Phoenix. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$1.1M
RESTAURANT
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.1M
OFFICE BUILDING
Est. value
$1.8M
RETAIL STORES
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.3M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1956
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
3
Rooms
20
Lot
0.89 ac
Current owner
From public records · entity-resolved
Ellis Family Trust
Trust
Free & Clear · 0 yrs held
Mailing address
1522 W MYRTLE AVE, PHOENIX, AZ 85021-7939
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 11, 2025
—
Ellis Family Trust
Jason D Ellis
Quitclaim Deed
related
—
May 22, 2023
$1,700,000
Jason D Ellis
Hospice Of The Valley
Warranty Deed
$1,360,000 · Axia Financial LLC
May 20, 1994
$323,000
Valley Of The Sun Hospice
Long
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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