Two-Bedroom Residential Income
For Sale
$274,000
1107 W OSBORN Road 114, Phoenix, AZ 85013
Condominium residence with updated finishes, private outdoor space, and off-street parking in a boutique community.
Property Size1,106 SF
Days on Market62
Property Features for 1107 W OSBORN Road 114
General Information
Standard status
Active
Size
1,106 SF
Property subtype
Apartment
Site & Location
Neighborhood
Encanto
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$602
Amenities
private patio
laundry
off-street parking
Building Details
Building Size
1,106 SF
Year Built
1950
Listing Agency:
Compass
Listed By:
Raleigh Dombek
(602) 258-6789
Source:
Alexiabertsatos
Added: Sep 3
Changed: Oct 31
Last Checked: Nov 1 at 1:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
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Investment Insights
Based on property information with market context.
This residential income property is a two-bedroom, two-bath condominium in a 39-residence community built in 1950. The layout includes oversized bedrooms, open living and dining areas, and a private patio. Interior improvements include an updated kitchen with a dishwasher, laundry, cooktop, and wall oven, along with an updated primary bathroom. New windows and doors are also noted throughout the residence.
The property is near Phoenix’s Melrose District and offers access to Downtown Phoenix, light rail, dining, coffee shops, nightlife, and everyday amenities. Ample off-street parking provides additional convenience, while the residence includes space suited to working from home, entertaining, and daily living.
The property is near Phoenix’s Melrose District and offers access to Downtown Phoenix, light rail, dining, coffee shops, nightlife, and everyday amenities. Ample off-street parking provides additional convenience, while the residence includes space suited to working from home, entertaining, and daily living.
Key Highlights
- Two‑bedroom, two‑bath condominium in a 39‑residence community
- Built in 1950 with new windows and doors throughout
- Updated kitchen with dishwasher, laundry, cooktop, and wall oven
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,900
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$258,000
$258.0K
Cap Rate 7%
$184,286
$184.3K
Cap Rate 9%
$143,333
$143.3K
Market Conditions
NOI Build-Up for 1,106 SF
Gross rent
$25.0K $22.56/SF
− Vacancy
−$1.5K −$1.35/SF
EGI
$23.5K $21.21/SF
− OpEx
−$10.6K −$9.54/SF
NOI
$12.9K $11.66/SF
Area
Phoenix, AZ
Vacancy
6.00%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$258,000
Cap Rate 7%
$184,286
Cap Rate 9%
$143,333
Alternative Uses
Best Use
Apartment 5plus
$184.3K
$161.3K – $215.0K
NOI $12,900 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$335.0K
$293.1K – $390.9K
NOI $23,451 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,764
Businesses Nearby
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Business Placement
Demographics for 85013, AZ
21,970
Population
11,618
Households
1.9
Avg Household Size
38
Median Age
47%
College-Educated
90%
High-School Grad
3.7 sq mi
ZIP Area
5,938
Density / Sq Mi
$68,895
Median Household Income
$53,067
Median Earnings
$1,435
Median Rent
$476,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with updated finishes, private outdoor space, and off-street parking in a boutique community.
Where is this residential income property located?
The property is located at 1107 W OSBORN Road 114 Phoenix, AZ.
What is the asking price?
The asking price for this property is $274,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium in a 39‑residence community; Built in 1950 with new windows and doors throughout; Updated kitchen with dishwasher, laundry, cooktop, and wall oven
