4421 N 53RD Lane, Phoenix, AZ 85031

New Listing
$614,500
Property Type: Multiple Dwellings Status: Active
Current Price: $614,500 List Date: 5/25/2026 Last Modified: 5/25/2026

Overview

Description

Excellent value-add investment opportunity with immediate upside potential. All four units are currently tenant occupied at below-market rents, creating an opportunity to increase income through rental adjustments or unit renovations. The property features a desirable unit mix consisting of one 3BD/2BA, two 2BD/2BA units, and one 2BD/1BA unit. The ground-floor units each offer private yard space, adding desirable outdoor amenities for tenants. Each unit is individually metered for electricity, and the property includes a shared on-site laundry facility along with garage parking. Conveniently located near major local and regional employment centers, Grand Canyon University, the YMCA, Maryvale Park and pool facilities, schools, healthcare providers, and shopping centers.

Listing Details MLS# 7031584

Location, Tax & Legal

House Number
4421
Compass
N
Street Name
53RD
St Suffix
Lane
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85031
Zip4
1930
Country
US
County Code
Maricopa
Subdivision
PARKWAY VILLAGE
Assessor Number
144-44-062
Tax Year
2025
Assessor's Map #
44
Legal Description (Abbrev)
LOT 16 PARKWAY VILLAGE MCR 015609
Assessor's Parcel #
62
Add'l Parcels
No
Tax Municipality
Phoenix
Census Tract
109400
Taxes
2884
Legal
LOT 16 PARKWAY VILLAGE MCR 015609
Marketing Name
Parkway Village Fourplex

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
9769
Year Built
1973
Uncvrd Parking Spcs
4
Total # of Units
4
# of Buildings
Yes
Zoning
R-4
Elementary School District
Cartwright Elementary District
High School District
Phoenix Union High School District

Remarks Misc

Cross Street
Maryvale Pkwy & Indian School Rd

Legal Info

Township
2N
Range
2E
Section
20
Lot Number
16

Income Expenses

Gross Annual Sch Inc
64080
Net Operating Income
45417

More Information

Showing Notification Methods

Showing Service
No Showing Service Used
Email
Yes

2 Bedroom Units

# 2 Bedroom Units
3
Avg Rent
891
Avg SqFt
1060
# Baths
5

3 Bedrooms Units

# 3 Bedroom Units
Yes
Avg Rent
1100
Avg SqFt
1300
# Baths
2

Project Type

Four Plex
Yes

Construction

Block
Yes
Wood Frame
Yes

Const - Finish

Painted
Yes
Stucco
Yes

Roofing

Tile
Yes

Floors

Other
Yes

Sale Includes

Land & Building
Yes

Income & Expenses

Annual Ins Exp
2000
Annual Landscape Exp
0
Annual Legal & Acctg
0
Annual Maint Exp
3107
Annual Mgmt Exp
0
Annual Wtr/Swr Exp
4320
Owner Association
Yes
Annual Ownr Asoc Fee
4428
Operating Exp
16739
Other Income
0
Vacancy Allowance
0.03
Adjusted Gross Inc
62157.6

Pmt & Rate Info

Cap Rate
7.39
Equity
614500
Down Payment %
0
Monthly Payments
0
Total Owed
0

Lockbox Type

None
Yes

Community Features

No Pool
Yes

Heating

Other
Yes
See Remarks
Yes

Cooling

Other
Yes
See Remarks
Yes

Tenant Pays

Electricity
Yes

Appliances Included

Other
Yes
See Remarks
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Projected Proforma
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

Garage
Yes
>1 Space Per Unit
Yes
Add'l Parking Avail
Yes

Electric

APS
Yes

Gas

None
Yes

Owner Pays

Water
Yes
Sewer
Yes

New Financing

Cash
Yes
Conventional
Yes
FHA
Yes
No Carry
Yes
1031 Exchange
Yes

Reports/Disclosures

None
Yes

Environmental

None
Yes

Efficiency Units

Avg Rent
0

1 Bedroom Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: Four Plex Construction: Block; Wood Frame Const - Finish: Painted; Stucco Roofing: Tile Floors: Other Sale Includes: Land & Building Community Features: No Pool Appliances Included: Other; See Remarks Heating: Other; See Remarks Cooling: Other; See Remarks Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: None Parking Features: Garage; >1 Space Per Unit; Add'l Parking Avail Road Surface Type: Asphalt Owner Pays: Water Tenant Pays: Electricity Source of Fincl Data: Projected Proforma Showing Notification Methods: Email Lockbox Type: None New Financing: Cash; FHA; Conventional; No Carry; 1031 Exchange Environmental: None
IDX
Listing Office: Compass
Last Updated: May - 25 - 2026
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