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Property profile & analytics
OFF-MARKET
Estimated value
$7,115,000
Assisted living facilities
1813 Myrtle Ave Phoenix, AZ 85021-7961
Entity Owned
11-yr Hold
Free & Clear
Property ID
US07-3457573
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
2006
Construction
STEEL FRAME
Total area
43,189 SF
Lot
1.05 ac (45,831 SF)
Zoning code
R-4A
APN
157-16-019
UPID
US07-3457573
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
$7.19M
Blend (final)
Blend
$7.12M
Owner & transaction history
Vtr Phoenix LLC · 11 yrs held
Vtr Phoenix LLC
since 2014
6 recorded transactions
Zoning & alternative use
R-4A · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$11.5M
+17.2%
Warehouse, storage
$11.2M
+14.6%
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
by Request
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)
$9,785,000
Current use
MEDICAL BUILDING
$11,465,000
Change: +17% · Conversion: Difficult
WAREHOUSE, STORAGE
$11,210,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$7.12M
Range $6.40M – $7.83M · ±10%
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
$165 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$50,951
Tax year 2023
Assessed value
$666,734
Assessed 2024
Previous assessed
$557,110
+19.7% YoY
Effective rate
7.64%
On assessed value
Land market value
$608,400
Improvement market value
$6,058,937
Total market value
$6,667,337
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
Off-Market
Year built
2006
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Stories
3
Units
12
Total area
43,189 SF
Lot
1.05 ac (45,831 SF)
Zoning code
R-4A
APN
157-16-019
UPID
US07-3457573
Jurisdiction
MARICOPA
Zoning & alternative use
R-4A · Phoenix, AZ
Zoning R-4A · permitted uses
R-4A · 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
$9.8M
MEDICAL BUILDING
Est. value
$11.5M
WAREHOUSE, STORAGE
Est. value
$11.2M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
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
2006
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
3
Units
12
Lot
1.05 ac
Current owner
From public records · entity-resolved
Vtr Phoenix LLC
Entity
Free & Clear · 11 yrs held
Mailing address
PO BOX 71970, PHOENIX, AZ 85050-1017
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 2, 2014
$36,000,000
Vtr Phoenix LLC
Stratford Assisted Living
Grant Deed
—
Mar 4, 2009
—
Stratford Assisted Living LLC
Myrtle Avenue Development LLC
Special Warranty Deed
$13,000,000 · Wells Fargo Bank NA
Mar 8, 2006
—
Myrtle Avenue Dev LLC
—
Trustees Deed
related
$5,611,068 · Guaranty Bank
Jun 30, 2005
$554,000
Myrtle Avenue Dev LLC
Dae Sung Corp
Grant Deed
—
May 20, 2003
$427,000
Dae Sung Corp
Erickson,pamala Est
Grant Deed
$264,740 · Pamala Erickson Estate
—
—
James B O'dell
—
Deed Of Trust
related
—
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.
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