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Central Park Villas 4128 N 10th St 10 Unit Apartment Building $2,873,000 ($287,300/Unit) 6% Cap Rate Phoenix, AZ 85014
Investment Highlights
- In-Suite Washer & Dryers
- Renovated in 2020 With New Kitchens, New Bathrooms, Custom Cabinetry, Quartz Countertops and Tiled Backsplashes and Tub Surrounds
- Private Patios & Covered Parking
- Individually Metered with Individual HVAC Units
- Stainless Steel Appliances, Wood Plank Vinal Floors, Dishwashers
- Lush Mature Landscaping and Plentiful Greenspace
Executive Summary
CBRE is pleased to present Central Park Villas Apartments, a single story garden style prime investment opportunity located at 4128 N 10th St., Phoenix. This 10-unit community benefits from a highly desirable location just north of Indian School Road and west of 7th Street, an area where demand for Class B/B+ properties consistently exceeds supply. Central Park Villas offers a diverse selection of spacious units, including one-bedroom (600 sq ft), two-bedroom (800 sq ft), and three-bedroom (1,200 sq ft) floor plans, all designed for modern living. Each unit is equipped with in-suite washer and dryers, stainless steel appliances, modern backsplashes, quartz kitchen and bathroom countertops, dishwashers, individual HVAC units, stylish wood-plank vinyl flooring, and ceramic tile.
Originally constructed in 1966 and extensively renovated in 2020, Central Park Villas presents a turnkey asset with a proven track record of stable income, low tenant turnover, and high historical occupancy. This established performance allows a new investor to capitalize on dependable cash flow and the potential for organic rent growth upon lease expirations, offering an attractive opportunity to achieve an above-market return on investment.
Beyond its attractive amenities, Central Park Villas boasts a prime location. Residents enjoy convenient access to the substantial employment opportunities of midtown, downtown, and the Biltmore/Camelback corridor, which together support a workforce of over 177,000 employees at more than 3,000+ businesses.
Originally constructed in 1966 and extensively renovated in 2020, Central Park Villas presents a turnkey asset with a proven track record of stable income, low tenant turnover, and high historical occupancy. This established performance allows a new investor to capitalize on dependable cash flow and the potential for organic rent growth upon lease expirations, offering an attractive opportunity to achieve an above-market return on investment.
Beyond its attractive amenities, Central Park Villas boasts a prime location. Residents enjoy convenient access to the substantial employment opportunities of midtown, downtown, and the Biltmore/Camelback corridor, which together support a workforce of over 177,000 employees at more than 3,000+ businesses.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,873,000 | Building Class | C |
| Price Per Unit | $287,300 | Lot Size | 0.67 AC |
| Sale Type | Investment | Building Size | 7,200 SF |
| Cap Rate | 6% | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1966/2020 |
| Property Subtype | Apartment | Parking Ratio | 2.36/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R-3, Phoenix | ||
| Price | $2,873,000 |
| Price Per Unit | $287,300 |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.67 AC |
| Building Size | 7,200 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1966/2020 |
| Parking Ratio | 2.36/1,000 SF |
| Zoning | R-3, Phoenix |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,454 | 600 |
| 2+1 | 3 | $1,835 | 800 |
| 3+2 | 1 | $2,100 | 1,200 |
1 1
Walk Score®
Very Walkable (76)
Bike Score®
Very Bikeable (76)
Property Taxes
| Parcel Number | 155-17-063 | Total Assessment | $33,822 |
| Land Assessment | $0 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
Property Taxes
Parcel Number
155-17-063
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$33,822
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Central Park Villas | 4128 N 10th St
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