$4,770,000
Phoenix, AZ 85015
MLS# 6946527
1 / 23
Property Description
Introducing Signature 18, a gated community in the heart of Phoenix, offering a 6.23% proforma cap rate and projected NOI of $300,000. Located near Abrazo Hospital, Christown Spectrum Mall, and major transit, the property blends urban access with a quiet, private setting. Recent improvements include desert landscaping, repaved parking, refreshed exterior paint, LED motion lighting, upgraded security cameras, modern gate locks, new stainless appliances, in-unit washers/dryers, roof resealing, and upgraded pool equipment. A new dog run enhances resident appeal, making this a true turn-key investment with strong cash flow and long-term efficiency.
Details
Maps
Documents
Contract Info
Ownership: Fee Simple
Current Price: $4,770,000
List Price: $4,770,000
Status: Active
List Date: 2025-11-12
Location, Tax & Legal
Assessor's Map #: 13
Legal Description (Abbrev): LOT 10 PARK MARYLAND AMD MCR 007625
Assessor's Parcel #: 86
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 106802
Taxes: 7322
Legal: LOT 10 PARK MARYLAND AMD MCR 007625
Marketing Name: Signature 18
House Number: 2014
Compass: W
Street Name: BERRIDGE
St Suffix: Lane
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85015
Zip4: 2141
County Code: Maricopa
Subdivision: PARK MARYLAND AMD
Assessor Number: 156-13-086-A
Tax Year: 2024
General Property Description
# of Buildings: 3
Uncvrd Parking Spcs: 20
Lot Size Dimensions: 100x270
Total # of Units: 18
High School District: Glendale Union High School District
Year Built: 1961
Zoning: R-4
Legal Info
Range: 2E
Section: 12
Township: 2N
Lot Number: 10
Project Type
13 - 24 Units: 1
Construction
Block: 1
Const - Finish
Stucco: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Sale Includes
Building(s) Only: 1
Land & Building: 1
Personal Property: 1
Pool Equipment: 1
Laundry Equipment: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Other Expense: 42867
Operating Exp: 50189
Other Income: 26600
Vacancy Allowance: 0.05
Adjusted Gross Inc: 342190
Pmt & Rate Info
Cap Rate: 6.23
Equity: 4770000
Down Payment %: 20
Monthly Payments: 1
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Text: 1
Email: 1
Phone Call: 1
Lockbox Type
None: 1
Community Features
Pool: 1
Heating
Central: 1
Cooling
Central Air: 1
Tenant Pays
Gas: 1
Electricity: 1
Appliances Included
Built-In Gas Oven: 1
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Built-In Range: 1
Washer/Dryer: 1
W/D Hookup: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Detached Carport: 1
On Street: 1
1 Space/Unit: 1
>1 Space Per Unit: 1
Electric
Individual Meter: 1
Gas
Individual Meter: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Cable TV: 1
Landscaping: 1
Pool Maintenance: 1
New Financing
Cash: 1
Cash to Loan: 1
Conventional: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 4
Avg Rent: 1150
Avg SqFt: 600
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 6
Avg Rent: 1400
Avg SqFt: 800
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 8
Avg Rent: 1800
Avg SqFt: 1000
# Baths: 2
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: N 19th Avenue
Directions: From I-17, exit at Bethany Home Rd and head east. Turn south on 21st Ave, then east on Berridge Ln. Property is on the north side of the street.
Geo Lat: 33.526676
Geo Lon: -112.102362
Income Expenses
Gross Annual Sch Inc: 333600
Net Operating Income: 297317
Property Features
Project Type: 13 - 24 Units
Construction: Block
Const - Finish: Stucco
Roofing: Composition
Floors: Vinyl
Sale Includes: Building(s) Only; Land & Building; Personal Property; Pool Equipment; Laundry Equipment
Community Features: Pool
Appliances Included: Built-In Gas Oven; Built-In Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer; W/D Hookup
Heating: Central
Cooling: Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: Individual Meter
Gas: Individual Meter
Parking Features: On Street; 1 Space/Unit; >1 Space Per Unit; Detached Carport
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Cable TV; Landscaping; Pool Maintenance
Tenant Pays: Electricity; Gas
Source of Fincl Data: Projected Proforma
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
New Financing: Cash; Cash to Loan; Conventional
Environmental: None
Offering Memorandum 
Listing Office: HomeSmart
Last Updated: November - 17 - 2025
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