Four-Unit Duplex
New
For Sale
$1,250,000
1228 E Mountain View Rd E #1-4, Phoenix, AZ 85020
Two duplex buildings provide four three-bedroom units with individual laundry rooms, full baths, and dedicated parking.
Property Size3,320 SF
Price / SF$376.51
Days on Market2
Property Features for 1228 E Mountain View Rd E #1-4
General Information
Standard status
Active
Size
3,320 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 3BR/1BA
Multifamily Units
4
Parking per Unit
2
Amenities
laundry room
Building Details
Year Built
2002
Buildings
2
Listing Agency:
Homesmart
(602) 230-7600
Listed By:
arrt of Real Estate / Amelia Goudeau
(602) 460-5545
Source:
Arrtofrealestate
Added: Sep 7
Last Checked: Sep 7 at 6:26AM
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 Homesmart
Investment Insights
Based on property information with market context.
This multifamily property includes two duplex buildings constructed in 2002, totaling 3,320 square feet across four units. Each residence has three bedrooms, a small laundry room, and a full bathroom. The property provides two parking spaces per unit.
Recent improvements include replacement of all AC units this year, replacement of all hot water heaters within the last 3 to 4 years, and painting of the complex this year. Three of the four tenants have occupied their units for periods ranging from 2 to 8 years. The property is located at 1228 E Mountain View Rd E in Phoenix, Arizona.
Recent improvements include replacement of all AC units this year, replacement of all hot water heaters within the last 3 to 4 years, and painting of the complex this year. Three of the four tenants have occupied their units for periods ranging from 2 to 8 years. The property is located at 1228 E Mountain View Rd E in Phoenix, Arizona.
Key Highlights
- Two duplex buildings with four total units
- Each unit includes 3 bedrooms, a small laundry room, and a full bath
- 3,320 square feet built in 2002
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
$43,484
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
3.48%
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%
$869,680
$869.7K
Cap Rate 7%
$621,200
$621.2K
Cap Rate 9%
$483,156
$483.2K
Market Conditions
NOI Build-Up for 3,320 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
$65.7K $19.80/SF
− Vacancy
−$3.6K −$1.09/SF
EGI
$62.1K $18.71/SF
− OpEx
−$18.6K −$5.61/SF
NOI
$43.5K $13.10/SF
Area
Phoenix, AZ
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$869,680
Cap Rate 7%
$621,200
Cap Rate 9%
$483,156
Alternative Uses
Best Use
Multifamily LT 5
$621.2K
$543.6K – $724.7K
NOI $43,484 @ 7.0% cap · market cap 3.48%
Second Best
Apartment 5plus
$553.2K
$484.0K – $645.4K
NOI $38,723 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$1.01M
$880.0K – $1.17M
NOI $70,396 @ 7.0% cap · market cap 5.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
848
Businesses Nearby
Explore this area
Business Placement
Demographics for 85020, AZ
34,534
Population
18,231
Households
1.9
Avg Household Size
43
Median Age
43%
College-Educated
90%
High-School Grad
8.8 sq mi
ZIP Area
3,924
Density / Sq Mi
$78,412
Median Household Income
$48,230
Median Earnings
$1,389
Median Rent
$400,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two duplex buildings provide four three-bedroom units with individual laundry rooms, full baths, and dedicated parking.
Where is this duplex located?
The property is located at 1228 E Mountain View Rd E #1-4 Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Two duplex buildings with four total units; Each unit includes 3 bedrooms, a small laundry room, and a full bath; 3,320 square feet built in 2002
