Condominium with Private
For Sale
$340,000
11640 N TATUM Boulevard 2013, Phoenix, AZ 85028
A walk-in shower, gas fireplace, and community recreation support full-time living or occasional stays.
Property Size866 SF
Days on Market13
Property Features for 11640 N TATUM Boulevard 2013
General Information
Standard status
Active
Size
866 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,201
Amenities
heated pool/spa
fitness center
BBQs
underground parking
paved walking paths
community events
Building Details
Building Size
866 SF
Year Built
2008
Listing Agency:
Compass
Listed By:
Suzye Kleiner
(602) 686-3667
Source:
Alexiabertsatos
Added: Oct 5
Changed: Oct 10
Last Checked: Oct 16 at 3:26PM
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 2008 condominium features a private balcony with decorative privacy screens, a kitchen with ample storage and workspace, and a bathroom updated with a walk-in shower. Interior features include a gas fireplace, pendant and recessed lighting, and programmable wall sconces. Furniture is available. The HVAC system dates to 2020, and the water heater was installed in 2024.
Community amenities include a heated pool and spa, fitness center, BBQ areas, underground parking, paved walking paths, and community events. Elevators connect the garage with the residential floors. The property is next to Stonecreek Golf Course and near restaurants and shopping in the PV area.
Community amenities include a heated pool and spa, fitness center, BBQ areas, underground parking, paved walking paths, and community events. Elevators connect the garage with the residential floors. The property is next to Stonecreek Golf Course and near restaurants and shopping in the PV area.
Key Highlights
- Private balcony with decorative privacy screens
- Updated bathroom with walk‑in shower
- Gas fireplace, pendant lighting, recessed lighting, and programmable wall sconces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,101
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$202,020
$202.0K
Cap Rate 7%
$144,300
$144.3K
Cap Rate 9%
$112,233
$112.2K
Market Conditions
NOI Build-Up for 866 SF
Gross rent
$19.5K $22.56/SF
− Vacancy
−$1.2K −$1.35/SF
EGI
$18.4K $21.21/SF
− OpEx
−$8.3K −$9.54/SF
NOI
$10.1K $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%
$202,020
Cap Rate 7%
$144,300
Cap Rate 9%
$112,233
Alternative Uses
Best Use
Apartment 5plus
$144.3K
$126.3K – $168.4K
NOI $10,101 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$262.3K
$229.5K – $306.0K
NOI $18,362 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,148
Businesses Nearby
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Business Placement
Demographics for 85028, AZ
19,888
Population
8,642
Households
2.3
Avg Household Size
48
Median Age
56%
College-Educated
97%
High-School Grad
6.9 sq mi
ZIP Area
2,882
Density / Sq Mi
$119,436
Median Household Income
$69,819
Median Earnings
$1,832
Median Rent
$583,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A walk-in shower, gas fireplace, and community recreation support full-time living or occasional stays.
Where is this residential income property located?
The property is located at 11640 N TATUM Boulevard 2013 Phoenix, AZ.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Private balcony with decorative privacy screens; Updated bathroom with walk‑in shower; Gas fireplace, pendant lighting, recessed lighting, and programmable wall sconces
