4525 N 40th Street, Phoenix, AZ 85018
- $10,250,000
- List Price
- $10,250,000
- Status
- ACTIVE
- Price Change
- ▲ $10,249,999 1700280066
- Days on Market
- 18
- MLS#
- 6631866
- City
- Phoenix
- Lot Size
- 16
- Year Built
- 2023
Property Description
Nestled amidst the opulent estates of Phoenix's Arcadia and Biltmore districts, you'll find The Luxe on 40th, an exclusive assemblage of 8 contemporary townhomes. Fully completed in 2023, The Luxe on 40th caters to the discerning professional's desire for a vibrant, yet secluded, living environment. It not only provides access to some of the Valley's most favored restaurants and retailers but also offers the coveted privacy and luxury sought after by the modern, high-end residential dweller the area is home to. Truly establishing a new standard for luxury living, these one-of-a-kind townhomes are complete with best-in class finishes, sky-view ceiling windows, and the unique installation of private in suite elevators traveling to all three floors. The kitchens are dense with features such as Silestone quartz countertops, walk-in pantries, soft-closing drawers, and veggie prep sinks placed in the centering island, while the bathrooms raise the standard with Ashlyn Faucets, back-lit mirrors, and dual showerheads in the master baths. High-end amenities continue with Ring Elite doorbells, 50 AMP pre-wiring for an electric car charger in garages, 50 AMP pre-wiring for spas on the decks, and installed security systems with pre-wiring for three alarm keypads. Residents also benefit from the exclusivity of two-car garages with direct access ensuring privacy and convenience. The extreme level of design incorporating the highest levels of in-suite amenities accomplishes the incredible task of meeting the irreplaceable value of the location. The offering consists of eight townhome units within an HOA covering nine units in total. The one unit not included in the offering was sold in August of 2021 for $1,259,514. Opting for advanced construction materials and system specifications in keeping a focus on long-term ownership and operational considerations, numerous nuanced choices were made in the construction techniques and methods that are challenging to measure quantitatively. These decisions result in a well-crafted structure featuring robust building materials rarely seen in multifamily construction projects in Arizona. The Luxe on 40th is situated alongside one of Greater Phoenix's most erudite and prosperous communities. The Arcadia neighborhood boasts a workforce with approximately 78% holding a bachelor's or postgraduate degree, while roughly 89% are engaged in white-collar occupations. The mean and median household earnings in the area stand at approximately $280,155 and $194,644, respectively. The exclusivity of Arcadia and Biltmore forms the cornerstone of the property's enduring profitability, offering unparalleled employment prospects in the vicinity, upscale lifestyle amenities, and access to distinctive recreational opportunities.
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Additional Information
- Gross Annual Sch Inc
- 579180
- Other Income
- 37992
- Adjusted Gross Inc
- 580141
- Taxes
- $48,627
- Annual Ins Exp
- 3600
- Annual Mgmt Exp
- 23297
- Annual Maint Exp
- 2400
- Annual Elec Exp
- 3200
- Annual Owner Assoc Fee
- 33600
- Annual Legal Accounting
- 1200
- Annual Landscape Exp
- 6552
- Annual Other Exp
- 5600
- Annual Replacement Rsrvs
- 2400
- Operating Exp
- 130476
- Net Operating Income
- $451,945
- Units
- 8
- Project Type
- 5 - 12 Units
- Construction
- Frame - Wood
- Roofing
- Metal
- Parking
- >1 Space Per Unit, Garage
- Cooling
- Ceiling Fan(s), Electric, ENERGY STAR Qualified Equipment, Individual
- Heating
- Ceiling, Electric, ENERGY STAR Qualified Equipment, Individual, Natural Gas
- Floors
- Carpet, Concrete, Vinyl, Wood
- Interior Amenities
- Elevator(s), Furnished, Unfurnished
- Exterior Amenities
- Green Landscaping, Patio/Balcony
- Zoning
- C-1
- Community Amenities
- No Pool
- Electric
- SRP
- Gas
- SW Gas
- Water
- City Franchise
- Sewer
- Sewer - Public
- Tenant Pays
- Electric
- New Financing
- 1031 Exchange, Conventional
- School District
- Scottsdale Unified District
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Listing courtesy of Marcus & Millichap.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2023 Arizona Regional Multiple Listing Service, Inc. All rights reserved.