37 W Medlock Drive, Phoenix, AZ 85013

$3,200,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $3,200,000 Last Modified: 11/22/2025

Description

Advantageously positioned just north of the Central Avenue and Camelback Road intersection, hidden within one of Central Phoenix's affluent residential areas is a 13-unit apartment community, Medlock Place (''the property''). Conveniently located in the heart of the historic uptown submarket, its nearby proximity to one of The Valley's major transportation arteries, State Route 51, affords residents direct access and simple passage to nearly any destination across The Valley. Positioned minutes from a long-standing landmark of Phoenix, Uptown Plaza blends mid-century modern charm with the high-rises that line both sides of Central Avenue.

Supplements: Anchoring the gateway to North Central Phoenix's historic core, Medlock Place presents outstanding walkable access to a mix of the best local and national retailers and restaurants including The Henry, Chula Seafood, Shake Shack, AJ's, and West Elm. Recognized by its sprawling residential estates and scarcity of developable land, Uptown Phoenix offers a highly coveted neighborhood atmosphere, boasting an average single family home sale price of ±1,189,390 (last 90 days). In addition, Medlock Place benefits from long-term profitability of location due to Uptown Phoenix's high barriers to submarket entry. Built in 1959 and fully renovated in 2020, Medlock Place is comprised of 10 two-bedroom floorplans (77%), 2 studio floorplans (15%), and 1 one-bedroom floorplan (8%) floorplans covering an average of ±773 square feet. All 13 units have been renovated with interior upgrades including new appliances, countertops, cabinets, flooring, fixtures, hardware and individual washer/dryers.

More Information MLS# 6914357

Contract Info

Ownership: Fee Simple Current Price: $3,200,000 Sold Price: $3,200,000 Status: Closed List Date: 2025-09-03

Location, Tax & Legal

Assessor's Map #: 23 Assessor's Parcel #: 84 Add'l Parcels: No Tax Municipality: Phoenix Taxes: 7719 Legal: MEDLOCK PL AMD Marketing Name: Medlock Place House Number: 37 Compass: W Street Name: Medlock St Suffix: Drive City/Town Code: Phoenix State/Province: AZ Zip Code: 85013 County Code: Maricopa Assessor Number: 162-23-084 Tax Year: 2025

General Property Description

# of Buildings: 1 Uncvrd Parking Spcs: 20 Lot Size Dimensions: 0.45 Total # of Units: 13 Elementary School District: Madison Elementary District High School District: Phoenix Union High School District Year Built: 1959 Zoning: R-3

Project Type

13 - 24 Units: 1

Construction

Block: 1

Const - Finish

Painted: 1 Stucco: 1

Roofing

Composition: 1

Floors

Vinyl: 1 Ceramic Tile: 1

Sale Includes

Land & Building: 1

Income & Expenses

Annual Elec Exp: 23412 Annual Ins Exp: 5101 Annual Landscape Exp: 7823 Annual Legal & Acctg: 3900 Annual Maint Exp: 5850 Annual Mgmt Exp: 10444 Owner Association: No Annual Ownr Asoc Fee: 0 Annual Rplcmnt Rsrvs: 3250 Annual Other Expense: 5525 Operating Exp: 73024 Other Income: 29940 Vacancy Allowance: 0.06 Adjusted Gross Inc: 259304.64

Pmt & Rate Info

Cap Rate: 5.56 Equity: 3380000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0

Showing Notification Methods

Showing Service: Aligned Showings Text: 1

Lockbox Type

None: 1

Community Features

Pool: 1

Heating

Electric: 1

Cooling

Electric: 1

Exterior Amenities

Green Landscaping: 1

Tenant Pays

Electricity: 1

Appliances Included

Dishwasher: 1 Microwave: 1 Refrigerator: 1 Free-Standing Range: 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

SW Gas: 1

Owner Pays

Water: 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

# Efficiency Units: 2 Avg Rent: 983 Avg SqFt: 200 # Baths: 2

1 Bedroom Units

# 1 Bedroom Units: 1 Avg Rent: 1450 Avg SqFt: 650 # Baths: 2

2 Bedroom Units

# 2 Bedroom Units: 10 Avg Rent: 1613 Avg SqFt: 900 # Baths: 10

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Sold Info

Loan Type: Conventional Loan Years: 10 Closing Cost Split: Normal - N Payment Type: Fixed Buyer Concession to Seller: 0 Buyer Concession $/%: $ Seller Concession to Buyer: 0 Seller Concession $/%: $

Remarks Misc

Geo Lat: 33.511431 Geo Lon: -112.07715

Status Change Info

Off Market Date: 2025-09-19 Under Contract Date: 2025-09-19 Close of Escrow Date: 2025-11-21 Sold Price: $3,200,000

Legal Info

Lot Number: 45

Income Expenses

Gross Annual Sch Inc: 245916 Net Operating Income: 188078

Property Features

Project Type: 13 - 24 Units Construction: Block Const - Finish: Painted; Stucco Roofing: Composition Floors: Vinyl; Ceramic Tile Sale Includes: Land & Building Community Features: Pool Exterior Amenities: Green Landscaping Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer Cooling: Electric Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: SW Gas 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 Showing Notification Methods: Text Lockbox Type: None New Financing: Cash; Conventional; 1031 Exchange Environmental: None
Listing Office: Marcus & Millichap
IDX
Last Updated: November - 22 - 2025
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