The Property
🔥 Price Cut + New Lease! Arcadia 4-Plex Now $1,595,000
4821 E Sheridan St • Phoenix, AZ 85008
This fully renovated Arcadia 4-plex just became one of the most compelling small multifamily plays in the Phoenix market. Recently reduced from $1,695,000 to $1,595,000, 4821 E Sheridan combines over $500,000 in capital improvements, strong rent potential, and an A+ Arcadia location that continues to attract high-quality tenants.
One unit has just leased at $1,895 per month + $50 in RUBS, and three additional units are available to show and in active lease-up. For investors seeking a turnkey asset with both income growth and long-term appreciation, this property checks all the boxes.
Investment Highlights
- New price: $1,595,000 (reduced from $1,695,000 – $100,000 price adjustment)
- Unit mix: 4 fully renovated units with modern finishes
- Leasing update: One unit leased at $1,895/mo + $50 RUBS; three units currently available to show
- Capital improvements: Over $500,000 invested in structural, mechanical, and interior upgrades
- Turnkey condition: Minimal ongoing maintenance and virtually no deferred items
- Location: Arcadia area – one of Phoenix’s most desirable, supply-constrained neighborhoods
Recent Leasing & Income Story
The latest lease at $1,895 per month + $50 in RUBS validates the strength of this Arcadia location and the quality of the renovation. With three remaining units available and in active lease-up, an incoming owner benefits from fresh, market-rate rents and a clean slate of new tenancies.
This combination of recent price reduction and demonstrated rent level positions 4821 E Sheridan as a rare opportunity to acquire a fully renovated asset below replacement cost in a top-tier submarket.
Major Renovations & Capital Improvements
Ownership has completed a comprehensive renovation program touching nearly every component of the property, including:
Roof, Exterior & Structure
- Complete roof replacement with 30-year architectural shingles
- Synthetic underlayment, flashing, and roof prep for long-term durability
- Stuccoed and freshly painted exterior
- New entry doors and upgraded fencing for added privacy and security
Mechanical & Electrical
- 4 new Goodman A/C units (three at 2 tons, one at 2.5 tons)
- Upgraded electrical service including new panels, breakers, and dedicated circuits
Landscaping, Hardscape & Parking
- Removal of older trees, sidewalks, and debris to open and clean the site
- New concrete driveways to 3 units and storage area
- 5 grass parcels in the front and rear yards for an elevated curb appeal
- River rock bordering grass, sidewalks, and driveways for a clean, low-maintenance finish
- New mailbox receptacle and upgraded fencing
- 4 newly built storage units, fully finished and painted
- Refreshed covered parking with upgraded woodwork and paint
Interior Finishes & Appliances
- Modern kitchens with new cabinets, countertops, sinks, and backsplashes
- Updated bathrooms with new toilets, sinks, cabinets, counters, mirrors, showers, and tubs
- Leveled floors with new flooring throughout each unit
- Fresh interior paint and new overhead fans in every room
- 11 Milgard dual-pane windows and 3 new sliding doors
- Full appliance packages: refrigerators, dishwashers, ranges, microwaves, in-unit washer/dryers, and water heaters in all 4 units
Arcadia Location – Lifestyle and Demand Driver
Arcadia is one of Phoenix’s most sought-after neighborhoods, known for its mature landscaping, established character, and central location. Residents enjoy:
- Quick access to Camelback Mountain and the Arizona Canal Trail for hiking, biking, and outdoor recreation
- Proximity to destination dining and retail such as Chelsea’s Kitchen, The Henry, and La Grande Orange
- A strong community feel with well-regarded schools, parks, and neighborhood amenities
- Easy access to key employment corridors, Old Town Scottsdale, the Biltmore area, and Phoenix Sky Harbor International Airport
This location supports premium rent levels and consistent demand from tenants who want the Arcadia lifestyle with updated, low-maintenance living.
Summary
With a $100,000 price reduction, a fresh lease at $1,895 + $50 RUBS, and over $500,000 in improvements already completed, 4821 E Sheridan offers investors a rare turnkey 4-plex opportunity in a premier Arcadia location. This is an ideal hold for investors focused on durable cash flow, pride of ownership, and long-term appreciation in one of Phoenix’s most established, high-demand neighborhoods.
Buyer to verify all facts and figures.
Virtual Tour-Check it out!
If you‘re interested in exploring the features of this property without leaving the comfort of your home, I highly recommend checking out the virtual tour. By clicking on the link provided, you’ll have the opportunity to experience a 360-degree view of the property, giving you a more immersive and interactive perspective. So why not take advantage of this convenient and innovative tool and discover what this property has to offer?
Location
Invest in Arcadia – Phoenix’s Premier Neighborhood
Location:
Arcadia is a highly sought-after Phoenix enclave, roughly bordered by Camelback Road to the north, Arizona Canal to the south, 44th Street to the east, and 68th Street to the west. Its central location offers quick access to Downtown Phoenix, Scottsdale, and Sky Harbor Airport, making it ideal for professionals, families, and investors seeking strong rental demand.
Real Estate Appeal:
- Diverse Housing Options: The area features a mix of historic ranch-style homes, modern custom builds, and upscale multifamily properties, attracting a wide tenant base.
- High Rental Demand: Arcadia is consistently in high demand due to its proximity to major employers, schools, and entertainment, ensuring low vacancy rates.
- Appreciation Potential: Home and rental values have shown steady growth, fueled by luxury renovations, new builds, and lifestyle amenities.
- Investor-Friendly: Many properties qualify for residential financing or DSCR loans, making acquisition and portfolio growth accessible for savvy investors.
Lifestyle & Amenities:
- Dining & Shopping: Popular spots like Postino Arcadia, O.H.S.O. Brewery, La Grande Orange, The Vig Arcadia, and Chelsea’s Kitchen attract residents and visitors alike.
- Parks & Recreation: Arcadia Park, Papago Park, and Camelback Mountain offer hiking, sports, and outdoor lifestyle amenities that enhance property value.
- Convenience: Everyday needs are met with Whole Foods, Sprouts, and AJ’s Fine Foods—perfect for tenants seeking walkable and amenity-rich living.
Entertainment & Culture:
- Nightlife & Music: Local favorites such as O.H.S.O. Brewery & Distillery and The Rebel Lounge provide lively nightlife and entertainment.
- Arts & Events: The neighborhood is just minutes from the Phoenix Art Museum and Scottsdale Center for the Performing Arts, attracting culturally-minded tenants.
- Community: Seasonal farmers markets and neighborhood events foster a sense of community, increasing tenant retention.
Transportation & Connectivity:
- Highway Access: Close to SR-51, Loop 202, and I-10, offering seamless commutes across the Valley.
- Public Transit: Multiple bus routes and nearby light rail in Central Phoenix provide additional commuting options.
- Airport Proximity: Just 15–20 minutes from Sky Harbor, ideal for frequent travelers.
Summary:
Arcadia is a high-demand, high-appeal neighborhood with strong rental potential, robust property appreciation, and lifestyle amenities that attract quality tenants. For investors, this area represents a turnkey opportunity to acquire properties that consistently perform, whether it’s single-family homes, luxury rehabs, or small multifamily units.
$1,595,000
Sale Price
$76,591
Effective Operating Income
$13,630
Operating Expenses
$62,961
Net Operating Income
3.95%
Cap Rate
$1,595,000
Sale Price
$90,792
Proforma Effective Income
$13,630
Proforma Operating Expenses
$77,342
Proforma Net Operating Income
4.85%
Proforma Cap Rate
Offering Memorandum and Marketing Flyer
To access the Offering Memorandum or the one page Flyer, simply click on the button located below. From there, you’ll be able to download the document in PDF format.
Our Offering Memorandum is an essential resource for anyone who is considering investing in our opportunity. It includes all the necessary information, such as the investment terms, potential risks, financial projections, and more. By reviewing this document, you’ll have a complete understanding of what the investment entails.
If you have any questions or would like to learn more about our investment opportunity, please don’t hesitate to reach out to us. We’re always happy to answer any questions and provide you with the information you need to make an informed decision.
Thank you for considering our investment opportunity, and we hope to hear from you soon!
Documents
We‘d like to invite you to check out the additional photos we have uploaded to our website for our property. These photos offer a more detailed view of the property from various angles and perspectives, giving you a better understanding of its layout and features. Take a few moments to browse through these photos to see for yourself what our property has to offer. We believe that they will provide you with a better insight into our property. Thank you for considering this property, and please don’t hesitate to contact us if you have any questions.
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