Residential Income Property with
For Sale
$239,900
1401 E PUGET Avenue 3, Phoenix, AZ 85020
Two-level townhouse features remodeled bathrooms, an updated kitchen, in-unit laundry, and access to a community pool and spa.
Property Size1,149 SF
Days on Market86
Property Features for 1401 E PUGET Avenue 3
General Information
Standard status
Active
Size
1,149 SF
Property subtype
Apartment
Site & Location
Neighborhood
North Mountain
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$752
Amenities
pool
spa
gas cooking grill
laundry room
wood burning fireplace
Building Details
Building Size
1,149 SF
Year Built
1985
Listing Agency:
HomeSmart
Listed By:
Mike Fillion
(602) 679-7300
Source:
Alexiabertsatos
Added: Aug 10
Changed: Oct 31
Last Checked: Nov 1 at 1:14PM
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 HomeSmart
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Investment Insights
Based on property information with market context.
This townhouse at 1401 E PUGET Avenue 3 offers a two-level layout with both bedrooms upstairs, each opening to its own walkout balcony. The primary bedroom includes built-in cabinetry, while both bathrooms have been remodeled with 18'' tile, glass shower doors, newer lighting, and updated countertops. Upper-level carpet and pad have also been upgraded, and custom tile appears on the lower floor and in the upper bathroom.
The family room includes a wood-burning fireplace. The kitchen provides extensive cabinet storage, granite countertops, upgraded appliances, and a refrigerator. A washer and dryer are included in the closet-style laundry area off the back patio, which also offers storage. The unit is located steps from the community pool and spa and includes a gas cooking grill outside the front entrance. Built in 1985, the property is in Phoenix, AZ 85020.
The family room includes a wood-burning fireplace. The kitchen provides extensive cabinet storage, granite countertops, upgraded appliances, and a refrigerator. A washer and dryer are included in the closet-style laundry area off the back patio, which also offers storage. The unit is located steps from the community pool and spa and includes a gas cooking grill outside the front entrance. Built in 1985, the property is in Phoenix, AZ 85020.
Key Highlights
- Two upstairs bedrooms, each with its own walkout balcony
- Both bathrooms remodeled with 18'' tile, glass shower doors, newer lights, and updated countertops
- Kitchen includes granite countertops, upgraded appliances, refrigerator, and extensive cabinet storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,401
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$268,020
$268.0K
Cap Rate 7%
$191,443
$191.4K
Cap Rate 9%
$148,900
$148.9K
Market Conditions
NOI Build-Up for 1,149 SF
Gross rent
$25.9K $22.56/SF
− Vacancy
−$1.6K −$1.35/SF
EGI
$24.4K $21.21/SF
− OpEx
−$11.0K −$9.54/SF
NOI
$13.4K $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 Rate 5%
$268,020
Cap Rate 7%
$191,443
Cap Rate 9%
$148,900
Alternative Uses
Best Use
Apartment 5plus
$191.4K
$167.5K – $223.4K
NOI $13,401 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$348.0K
$304.5K – $406.1K
NOI $24,363 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
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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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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level townhouse features remodeled bathrooms, an updated kitchen, in-unit laundry, and access to a community pool and spa.
Where is this residential income property located?
The property is located at 1401 E PUGET Avenue 3 Phoenix, AZ.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two upstairs bedrooms, each with its own walkout balcony; Both bathrooms remodeled with 18'' tile, glass shower doors, newer lights, and updated countertops; Kitchen includes granite countertops, upgraded appliances, refrigerator, and extensive cabinet storage
