Second-Floor Multifamily End
For Sale
$320,000
810 E Colter St #34, Phoenix, AZ 85014
Updated residence with a private balcony, inside laundry, parking, and access to a gated community pool area.
Property Size1,406 SF
Price / SF$227.60
Days on Market29
Property Features for 810 E Colter St #34
General Information
Standard status
Active
Size
1,406 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Parking per Unit
2
Amenities
private balcony
inside laundry
pool area
gated
Building Details
Year Built
1962
Tenancy
Single
Listing Agency:
White Mountain Scenic Real Estate
(480) 418-1838
Listed By:
Thompson Shepherd Group
(480) 418-1838
Source:
Thompsonshepherdgroup
Added: Aug 3
Changed: Aug 31
Last Checked: Aug 30 at 4:14PM
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 White Mountain Scenic Real Estate
Investment Insights
Based on property information with market context.
The Kensington offers a 1,406-square-foot second-floor end unit within a 52-unit gated community. Built in 1962, the residence has been updated and includes three bedrooms, two baths, inside laundry, and a private balcony oriented toward the pool area. The unit also includes two parking spots.
Located at 810 E Colter St #34 in Phoenix, Arizona, the property is one of six three-bedroom, two-bath units in the community. The current tenant has renewed an annual lease. Because the unit is occupied, viewings are limited to contracts accepted before access is arranged.
Located at 810 E Colter St #34 in Phoenix, Arizona, the property is one of six three-bedroom, two-bath units in the community. The current tenant has renewed an annual lease. Because the unit is occupied, viewings are limited to contracts accepted before access is arranged.
Key Highlights
- 1,406‑square‑foot second‑floor end unit
- Three‑bedroom, 2‑bath configuration
- Private balcony overlooking the pool area
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
$16,399
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
5.12%
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%
$327,980
$328.0K
Cap Rate 7%
$234,271
$234.3K
Cap Rate 9%
$182,211
$182.2K
Market Conditions
NOI Build-Up for 1,406 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
$31.7K $22.56/SF
− Vacancy
−$1.9K −$1.35/SF
EGI
$29.8K $21.21/SF
− OpEx
−$13.4K −$9.54/SF
NOI
$16.4K $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 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%
$327,980
Cap Rate 7%
$234,271
Cap Rate 9%
$182,211
Alternative Uses
Best Use
Apartment 5plus
$234.3K
$205.0K – $273.3K
NOI $16,399 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$425.9K
$372.7K – $496.9K
NOI $29,812 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,508
Businesses Nearby
Explore this area
Business Placement
Demographics for 85014, AZ
26,381
Population
14,778
Households
1.8
Avg Household Size
37
Median Age
43%
College-Educated
90%
High-School Grad
4.0 sq mi
ZIP Area
6,595
Density / Sq Mi
$69,995
Median Household Income
$48,465
Median Earnings
$1,339
Median Rent
$447,500
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?
Multifamily property - Updated residence with a private balcony, inside laundry, parking, and access to a gated community pool area.
Where is this multifamily property located?
The property is located at 810 E Colter St #34 Phoenix, AZ.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 1,406‑square‑foot second‑floor end unit; Three‑bedroom, 2‑bath configuration; Private balcony overlooking the pool area
