$5,895,000
Phoenix, AZ 85015
MLS# 6989965
1 / 21
Property Description
Ideally positioned immediately north of Central Phoenix's largest major employment corridor, The Vue Townhomes (''the property'') is a 26-unit majority townhome community located at the southwest corner of the 15th Avenue and Missouri Avenue intersection. The property sits within a desirable residential neighborhood, surrounded by the growing lifestyle opportunities of a rapidly improving area and the natural beauty of the North Mountain Preserve.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $5,895,000
List Price: $5,895,000
Status: Active
List Date: 2026-02-25
Location, Tax & Legal
Assessor's Map #: 29
Assessor's Parcel #: 25
Add'l Parcels: No
Tax Municipality: Phoenix
Taxes: 11078
Legal: DENTON TR
Marketing Name: The Vue Townhomes
House Number: 1503
Compass: W
Street Name: Missouri
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85015
County Code: Maricopa
Assessor Number: 156-29-025
Tax Year: 2025
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 12
Lot Size Dimensions: 0.78
Total # of Units: 26
Year Built: 1967
Zoning: R-3
Project Type
25 - 50 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Foam: 1
Floors
Tile: 1
Vinyl: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 26675
Annual Ins Exp: 13000
Annual Landscape Exp: 14340
Annual Legal & Acctg: 1934
Annual Maint Exp: 25485
Annual Mgmt Exp: 15183
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Rplcmnt Rsrvs: 6500
Annual Other Expense: 9364
Operating Exp: 123559
Other Income: 31569
Vacancy Allowance: 0.08
Adjusted Gross Inc: 423581.8
Pmt & Rate Info
Cap Rate: 5.02
Equity: 5895000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
None: 1
Community Features
Pool: 1
Heating
Individual: 1
Cooling
Individual: 1
Exterior Amenities
Green Landscaping: 1
Desert Landscaping: 1
Fenced: 1
Tenant Pays
Electricity: 1
Appliances Included
Dishwasher: 1
Free-Standing Electric Oven: 1
Microwave: 1
Refrigerator: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
>1 Space Per Unit: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
Pool Maintenance: 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: 8
Avg Rent: 1175
Avg SqFt: 693
# Baths: 8
2 Bedroom Units
# 2 Bedroom Units: 18
Avg Rent: 1463
Avg SqFt: 900
# Baths: 18
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Geo Lat: 33.516285
Geo Lon: -112.091536
Legal Info
Lot Number: 19
Income Expenses
Gross Annual Sch Inc: 428846
Net Operating Income: 296047
Property Features
Project Type: 25 - 50 Units
Construction: Block
Const - Finish: Painted
Roofing: Foam
Floors: Tile; Vinyl
Sale Includes: Land & Building
Community Features: Pool
Exterior Amenities: Green Landscaping; Desert Landscaping; Fenced
Appliances Included: Free-Standing Electric Oven; Refrigerator; Dishwasher; Microwave; Washer/Dryer
Heating: Individual
Cooling: Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: >1 Space Per Unit
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping; Pool Maintenance
Tenant Pays: Electricity
Source of Fincl Data: Owner
Lockbox Type: None
New Financing: Cash; Conventional; 1031 Exchange
Environmental: None
Supplements
The adjacent city-endorsed North Mountain Redevelopment Area, a defined area within the Phoenix MSA currently undergoing transformative redevelopment efforts, provides assistance to residents and business owners in taking advantage of funding mechanisms designed to improve the region through advancement of underutilized properties, expanded infrastructure, and the creation of additional employment opportunities with current capital investment of $179M, and lead by a revitalization of the iconic Metrocenter Mall. Ample employment opportunities are found through the nearby I-17 Employment Corridor, boasting more than 43,000 employees across ±1,200 businesses, featuring employers such as BlueCross BlueShield, Wells Fargo, Waste Management.
Completed in 1967, The Vue at 1501 is comprised of 8 one-bedroom (31%) and 18 two-bedroom townhome (69%) floorplans, offering an average of ±823 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. In addition, the roof and pool have been recently updated leaving additional upside of enhancing the curb appeal through common area capital expenditures such as exterior paint and landscaping. Future ownership will have the opportunity to receive enhanced operational performance and desirability resulting from the property's extremely rare majority-townhome mix in a rapidly-transforming, centralized location with immediate access to desirable amenities such as schools, retail and major employment corridors. With $2,308 average on-market rent for townhomes within a one-mile radius of the property, new ownership will have a clear competitive advantage to push market rent while remaining the lower cost option amongst competitive units in the submarket.
Listing Office: Marcus & Millichap
Last Updated: February - 26 - 2026
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