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4119 N 11th Avenue, Phoenix, AZ 85013

$1,650,000
Property Type: Multiple Dwellings Status: Active
Current Price: $1,650,000 Last Modified: 1/22/2026

Description

Ideally positioned just east of Central Phoenix's largest major employment corridor, Villa at Melrose (''the property'') is an 8-unit multifamily community located north of Indian School Road on 11th Avenue. The property sits within the desirable Midtown submarket, surrounded by the growing lifestyle opportunities the immediate area offers. The Property's nearby proximity to one of The Valley's major transportation arteries, State Route 51, affords residents direct access and simple passage to nearly any destination across The Valley.

Supplements: Anchoring the gateway to North Central Phoenix's historic core, Villa at Melrose presents outstanding walkable access to a mix of the best local and national retailers and restaurants including Sprouts, Natural Grocers, Valentine, Clever Koi, AJ's, and West Elm. Ample employment opportunities are found through the nearby Innovation Employment Corridor, Arizona's economic driving force, boasting more than ±171,000 total professionals dispersed across its Midtown and Downtown Phoenix setting occupying a diverse range of industries from business services and finance to healthcare, education, and government services. Completed in 1958, and fully renovated in 2023, Villa at Melrose is comprised of 4 one-bedroom (50%) and 4 two-bedroom (50%) floorplans, offering an average of ±675 square feet per unit. All units have been fully renovated with new countertops, cabinets, stainless steel appliances, upgraded electrical panels and in-unit washer/dryers (select units). In addition, the entire community exterior and common area has been upgraded including new landscaping, exterior paint, common area, and roof. Future ownership will have the opportunity to receive enhanced operational performance and desirability resulting from the property's centralized location with immediate access to desirable amenities such as schools, retail and major employment corridors.

More Information MLS# 6972550

Contract Info

Ownership: Fee Simple Current Price: $1,650,000 List Price: $1,650,000 Status: Active List Date: 2026-01-22

Location, Tax & Legal

Assessor's Map #: 39 Assessor's Parcel #: 93 Assessor Parcel Ltr: G Add'l Parcels: No Tax Municipality: Phoenix Taxes: 2723 Legal: DEL MONTE NORTH TR B EX E 575ft and EX S 125ft Marketing Name: Villa at Melrose House Number: 4119 Compass: N Street Name: 11th St Suffix: Avenue City/Town Code: Phoenix State/Province: AZ Zip Code: 85013 County Code: Maricopa Assessor Number: 155-39-093-G Tax Year: 2025

General Property Description

# of Buildings: 1 Uncvrd Parking Spcs: 0 Lot Size Dimensions: 0.26 Total # of Units: 8 Year Built: 1958 Zoning: R-3

Project Type

5 - 12 Units: 1

Construction

Block: 1

Const - Finish

Painted: 1

Roofing

Composition: 1

Floors

Tile: 1 Vinyl: 1

Sale Includes

Land & Building: 1

Income & Expenses

Annual Elec Exp: 4835 Annual Ins Exp: 4000 Annual Landscape Exp: 3200 Annual Legal & Acctg: 2400 Annual Maint Exp: 7033 Annual Mgmt Exp: 4467 Owner Association: No Annual Ownr Asoc Fee: 0 Annual Rplcmnt Rsrvs: 2000 Annual Other Expense: 11368 Operating Exp: 42026 Other Income: 10996 Vacancy Allowance: 0.08 Adjusted Gross Inc: 113034.88

Pmt & Rate Info

Cap Rate: 4.22 Equity: 1650000 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

Individual: 1

Cooling

Individual: 1

Exterior Amenities

Desert Landscaping: 1

Tenant Pays

Electricity: 1

Appliances Included

Dishwasher: 1 Free-Standing Electric Oven: 1 Microwave: 1 Refrigerator: 1 Washer/Dryer: 1 W/D Hookup: 1

Road Surface Type

Asphalt: 1

Source of Fincl Data

Owner: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Parking Features

On Street: 1 1 Space/Unit: 1

Electric

SRP: 1

Gas

SW Gas: 1

Owner Pays

Water: 1 Sewer: 1 Trash Collection: 1 Landscaping: 1

New Financing

Cash: 1 Conventional: 1 1031 Exchange: 1

Reports/Disclosures

None: 1

Environmental

None: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

# 1 Bedroom Units: 4 Avg Rent: 1012 Avg SqFt: 600 # Baths: 4

2 Bedroom Units

# 2 Bedroom Units: 4 Avg Rent: 1318 Avg SqFt: 750 # Baths: 4

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Remarks Misc

Geo Lat: 33.495534 Geo Lon: -112.0867

Legal Info

Lot Number: 1

Income Expenses

Gross Annual Sch Inc: 111868 Net Operating Income: 69652

Property Features

Project Type: 5 - 12 Units Construction: Block Const - Finish: Painted Roofing: Composition Floors: Tile; Vinyl Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Desert Landscaping Appliances Included: Free-Standing Electric Oven; Refrigerator; Dishwasher; Microwave; Washer/Dryer; W/D Hookup Heating: Individual Cooling: Individual Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: On Street; 1 Space/Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Owner Lockbox Type: None New Financing: Cash; Conventional; 1031 Exchange Environmental: None
Listing Office: Marcus & Millichap
IDX
Last Updated: January - 22 - 2026
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