The Ark Apartments | 4120 North 45th Place, Phoenix, AZ 85018 | 10 Units | Built 1960 | Renovated 2016 | $2,605,000 | $260,500 Per Unit | $362.46 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ. (December 1, 2025) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $2,605,000 / $260,500 Per Unit / $362.46 Per SF sale of The Ark Apartments, a 10-unit multifamily apartment community located in Phoenix, Arizona. The Buyer was represented by ABI Multifamily's Andrew Arambula, Bryce Neagle, and Tom Palestina.
The buyer is based in California and the seller is based in Arizona.
Located at 4120 North 45th Place in the highly sought-after Arcadia neighborhood, The Ark Apartments was originally built in 1960 and fully renovated in 2016. The property features a desirable unit mix consisting of (5) 1-bed / 1-bath units (~600 SF), (1) 2-bed / 1-bath unit (~764 SF), (3) 2-bed / 1.5-bath units (~764 SF), and (1) 3-bed / 1.5-bath unit (~1,131 SF), all upgraded with modern interior finishes.
The community benefits from strong long-term rental demand and a premier Arcadia location just minutes from top-tier hospitality destinations including The Global Ambassador, Royal Palms, The Sanctuary, The Phoenician, and Mountain Shadows. Residents also enjoy easy access to Arcadia dining including OHSO Brewery, Doughbird, The Henry, Buck & Rider, as well as shopping, nearby hiking trails, and a variety of lifestyle amenities.
In addition to its central Arcadia setting, The Ark Apartments offers exceptional connectivity to premier Scottsdale retail, entertainment, and employment corridors. The property sits just a short drive from Old Town Scottsdale, Fashion Square Mall, the 48th Street tech and office cluster, and several of the region’s most desirable restaurants and nightlife districts, making it a highly attractive location for both residents and long-term investors.
ABI Multifamily (https://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Las Vegas, San Diego, and Tucson, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.