It is shown that the addition of down-converted photon pairs to coherent laser light enhances the N-photon phase sensitivity due to the quantum interference between components of the same total photon number. Since most of the photons originate from the coherent laser light, this method of obtaining non-classical N-photon states is much more efficient than methods based entirely on parametrically down-converted photons. Specifically, it is possible to achieve an optimal phase sensitivity of about delta phi^2=1/N^(3/2), equal to the geometric mean of the standard quantum limit and the Heisenberg limit, when the average number of down-converted photons contributing to the N-photon state approaches (N/2)^(1/2).