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    4120 N 45Th Pl Phoenix, AZ 85018
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    4120 N 45Th Pl Phoenix, AZ 85018

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    Arcadia Neighborhood Apartment Community For Sale
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    Arcadia Neighborhood Apartment Community

    Boutique 10-unit apartment community in Phoenix's desirable Arcadia neighborhood.

    4120 N 45th Pl, Phoenix, AZ 85018
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    Property ID
    US07-0292687
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Beverley Apt / Hotel & Motel
    • Ark Aprtments / Apartment Building

    Property Details for 4120 N 45Th Pl

    Year built
    1960
    Property type
    Commercial real estate
    APN
    171-42-102

    Description

    This exceptional Class A, 10-unit apartment building presents a compelling investment opportunity in Phoenix, Arizona's desirable Arcadia neighborhood. Located at 4120 N 45th Pl, 85018, this meticulously remodeled property boasts a total of 7,187 net rentable square feet spread across five, two-story buildings. Built in 1960 and extensively renovated in 2023, the property features a mix of spacious one, two, and three-bedroom units averaging approximately 719 square feet each. The contemporary design, upgraded amenities, and sophisticated interior finishes create a best-in-class multifamily community. Individual electric meters enhance efficiency. The property sits on a 171-42-102 APN parcel and is zoned R-4. Its prime location offers easy access to the I-51 freeway, the Camelback-Biltmore employment corridor, and the burgeoning Midtown Phoenix bioscience hub. The surrounding area is rich with entertainment, dining, and professional employment opportunities, making this a highly sought-after location with strong rental demand. The asking price is $2,900,000, representing $290,000 per unit. This low-maintenance asset provides an attractive unit mix and significant potential for strong returns in a resilient East Phoenix submarket.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.9834425
    Latitude
    33.495487

    Comparable in this City

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      Arcadia Neighborhood Apartment Community

      Boutique 10-unit apartment community in Phoenix's desirable Arcadia neighborhood.
      4120 N 45Th Pl, Phoenix, AZ 85018
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    • $1,995,624

      Phoenix Multifamily Investment Opportunity

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      Upgraded Multifamily Property in Phoenix

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      Phoenix Multifamily Investment Opportunity

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    Similar Nearby for Sale

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      Renovated Arcadia Lite Apartment Community

      Thirteen-unit, fully renovated apartment community in Phoenix's Citrus Acres-Arcadia Lite.
      2936 N 39Th St, Phoenix, AZ 85018
      View Details
    • Contact for pricing

      Arcadia Neighborhood Apartment Community

      Boutique 10-unit apartment community in Phoenix's desirable Arcadia neighborhood.
      4120 N 45Th Pl, Phoenix, AZ 85018
      View Details
    • $1,995,640

      Phoenix Multifamily Investment Opportunity

      Seven-unit property in a rapidly gentrifying Phoenix neighborhood.
      3027 N 37Th St, Phoenix, AZ 85018
      View Details
    • $1,950,630

      Upgraded Multifamily Property in Phoenix

      Renovated 7-unit property near Arcadia and Midtown Phoenix.
      3038 N 38Th St, Phoenix, AZ 85018
      View Details
    • $1,995,640

      Phoenix Multifamily Investment Opportunity

      Seven-unit property in a rapidly gentrifying Phoenix neighborhood.
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      View Details
    • $2,600,000
      0.50 Acres

      Arcadia Lite Multifamily Investment Opportunity

      Five-unit residential compound ideal for assisted living or rental income.
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      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      28,312 SF

      Contemporary Office Space on 44th Street

      Contemporary office space with high ceilings and convenient access.
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      47,602 SF

      Office Space for Sublease

      Available office space for sublease in Phoenix, Arizona.
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      Class A Office Building

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      Prime Retail Space in Phoenix

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      Freestanding Retail Building For Rent

      Freestanding retail building with street frontage and easy access.
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    • $28 SF/Yr

      Camelback Corridor Office Space

      Office space in the Camelback Corridor available for lease.
      5070 N 40Th St, Phoenix, AZ 85018
      View Details
    View Listing
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    Phoenix, AZ 85018
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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