8-Unit Apartment
For Sale
$1,100,000
6306 W MARYLAND Avenue, Glendale, AZ 85301
MULTI_FAMILY - Glendale, AZ
Property Size3,200 SF
Lot Size0.32 Acres
Price / SF$343.75
Days on Market380
Property Features for 6306 W MARYLAND Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
8
Full bathrooms
8
Rooms
Bedroom 6, Bathroom 8, Bedroom 5, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 8, Bathroom 1, Bathroom 2, Bathroom 6, Bathroom 7, Bathroom 4, Bathroom 3, Bedroom 7, Bedroom 2, Bathroom 5
Appliances
Refrigerator, Free-Standing Gas Oven
Subdivision
ORCHARD ADD BLK 6 LOT 5-10
Elementary school district
Glendale Elementary District
Middle school district
Glendale Union High School District
High school district
Glendale Union High School District
Directions
From Grand Ave (US-60), turn east on W Myrtle Ave. Continue to N 63rd Ave and turn left. Go two blocks, then turn right onto W Maryland Ave. The property is on the left at 6306 N Maryland Ave, Glendale, AZ 85301.
Standard status
Active
APN
144-13-037
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
ORCHARD ADD S 100' OF E 140' LOT 8 BLK 7
Tax Annual Amount
1797
Legal Description
ORCHARD ADD S 100' OF E 140' LOT 8 BLK 7
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric, Wall/Window Unit(s), Ceiling Fan(s), Wall Unit(s)
Building Details
Year built
1963
Number of units
8
Flooring type
Vinyl
Building materials
Wood Frame, Stucco
Listing Agency:
Realty ONE Group
(623) 236-1414
Listed By:
Kinal Movalia · License #SA555652000
(623) 308-2909
Added: Aug 2, 2025
Changed: Aug 1
Last Checked: Aug 16 at 5:06AM
MLS# 6900707
Copyright © 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 8-unit apartment building consists of three separate buildings on a 14,000+ sq ft lot (0.32 acres). Built in 1963, the property provides approximately 3,200 sq ft of total living space, with each unit configured as 1 bedroom and 1 bathroom.
The buildings are zoned R3 and served by public sewer. Heating is provided by natural gas, and cooling is electric with wall/window unit(s), ceiling fan(s), and wall unit(s). Inside each unit, tenants have access to a refrigerator and a free-standing gas oven, with vinyl flooring throughout.
Set up for income-producing use, the property is described as well-kept and includes ample parking. It also offers scope for future upgrades or expansion while remaining in an established Glendale area near downtown, shopping, schools, and freeways.
The buildings are zoned R3 and served by public sewer. Heating is provided by natural gas, and cooling is electric with wall/window unit(s), ceiling fan(s), and wall unit(s). Inside each unit, tenants have access to a refrigerator and a free-standing gas oven, with vinyl flooring throughout.
Set up for income-producing use, the property is described as well-kept and includes ample parking. It also offers scope for future upgrades or expansion while remaining in an established Glendale area near downtown, shopping, schools, and freeways.
Key Highlights
- 8 units across three separate buildings
- 14,000+ sq ft lot (0.32 acres) with approx. 3,200 sq ft total living space
- Each unit offers 1 bedroom and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,583
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$651,660
$651.7K
Cap Rate 7%
$465,471
$465.5K
Cap Rate 9%
$362,033
$362.0K
Market Conditions
NOI Build-Up for 3,200 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$63.4K $19.80/SF
− Vacancy
−$4.1K −$1.29/SF
EGI
$59.2K $18.51/SF
− OpEx
−$26.7K −$8.33/SF
NOI
$32.6K $10.18/SF
Area
Glendale, AZ
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$651,660
Cap Rate 7%
$465,471
Cap Rate 9%
$362,033
Alternative Uses
Best Use
Apartment 5plus
$465.5K
$407.3K – $543.1K
NOI $32,583 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$879.5K – $1.17M
NOI $70,361 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
878
Businesses Nearby
Explore this area
Business Placement
Demographics for 85301, AZ
67,380
Population
24,019
Households
2.8
Avg Household Size
30
Median Age
11%
College-Educated
71%
High-School Grad
9.3 sq mi
ZIP Area
7,245
Density / Sq Mi
$47,422
Median Household Income
$33,727
Median Earnings
$1,189
Median Rent
$218,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Zoned R3 and built in 1963, this eight-unit property features three separate buildings with natural gas heating and electric cooling.
Where is this apartment building located?
The property is located at 6306 W MARYLAND Avenue Glendale, AZ.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 8 units across three separate buildings; 14,000+ sq ft lot (0.32 acres) with approx. 3,200 sq ft total living space; Each unit offers 1 bedroom and 1 bathroom
