Four-Unit Quadplex
New
For Sale
$1,250,000
1228 E MOUNTAIN VIEW Road E 1-4, Phoenix, AZ 85020
Two duplex buildings feature consistent three-bedroom layouts, private laundry rooms, and full bathrooms in every residence.
Property Size3,320 SF
Days on Market5
Property Features for 1228 E MOUNTAIN VIEW Road E 1-4
General Information
Standard status
Active
Size
3,320 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$1,469
Building Details
Building Size
3,320 SF
Year Built
2002
Listing Agency:
Eco-Realty
Listed By:
Richard Scott
(480) 363-3537
Source:
Alexiabertsatos
Added: Sep 5
Changed: Sep 7
Last Checked: Sep 8 at 11:40AM
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 Eco-Realty
Investment Insights
Based on property information with market context.
This four-unit multifamily property comprises two duplex buildings completed in 2002. Each residence includes three bedrooms, a full bathroom, and a dedicated small laundry room. The layout provides two parking spaces per unit, supporting a total of eight on-site parking spaces.
Recent property improvements include replacement of all AC units this year, replacement of all hot water heaters within the last 3 to 4 years, and exterior painting completed this year. Three of the four tenants have remained in place for periods ranging from 2 to 8 years.
Recent property improvements include replacement of all AC units this year, replacement of all hot water heaters within the last 3 to 4 years, and exterior painting completed this year. Three of the four tenants have remained in place for periods ranging from 2 to 8 years.
Key Highlights
- Four units arranged across two duplex buildings
- Built in 2002 with three bedrooms in every unit
- Each residence includes a small laundry room and full bath
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
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Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Two duplex buildings feature consistent three-bedroom layouts, private laundry rooms, and full bathrooms in every residence.
Where is this quadplex located?
The property is located at 1228 E MOUNTAIN VIEW Road 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: Four units arranged across two duplex buildings; Built in 2002 with three bedrooms in every unit; Each residence includes a small laundry room and full bath
