Multifamily
New
For Sale
$3,210,000
1603 W Denton Ln, Phoenix, AZ 85015
The community sits between Grand Canyon University and Central Phoenix employment centers, with each less than 2.5 miles away.
Property Size14,850 SF
Days on Market6
Property Features for 1603 W Denton Ln
General Information
Standard status
Active
Size
14,850 SF
Property subtype
Multifamily
Occupancy
95%
Amenities
Positioned at the doorstep of Phoenix's million-dollar neighborhoods, Denton West offers convenient access to trendy dining destinations and revitalized retail corridors.
Significant potential to modernize the existing community through upgrading interiors, exteriors, and adding large private back patios to studios in the single level building.
1980 vintage. Attractive price per unit.
Building Details
Building Size
14,850 SF
Units
30
Tenancy
Multi
Listing Agency:
Phoenix Office
Listed By:
Paul Bay · License #License(s): AZ: SA671037000
(602) 687-6679
Source:
Marcusmillichap
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 5 at 3:07PM
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 Phoenix Office
Investment Insights
Based on property information with market context.
Denton West is a multifamily community dating to the 1980s at 1603 W Denton Ln in Phoenix. The property includes a single-level building with studios. The source identifies interior and exterior renovations and adding private patios to studios as potential improvements; these are not described as completed work.
Grand Canyon University and the Innovation Employment Corridor are each less than 2.5 miles from the property. Banner Health, Dignity Health, and U-Haul are among the employers identified in the nearby Central Phoenix employment corridor. An elementary school is less than half a mile away, and the property is also described as near Uptown Phoenix shopping, dining, and entertainment destinations.
Grand Canyon University and the Innovation Employment Corridor are each less than 2.5 miles from the property. Banner Health, Dignity Health, and U-Haul are among the employers identified in the nearby Central Phoenix employment corridor. An elementary school is less than half a mile away, and the property is also described as near Uptown Phoenix shopping, dining, and entertainment destinations.
Key Highlights
- Multifamily community built in the 1980s
- Single‑level building with studio units
- Grand Canyon University and the Innovation Employment Corridor are each less than 2.5 miles away
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$173,203
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,464,060
$3.5M
Cap Rate 7%
$2,474,329
$2.5M
Cap Rate 9%
$1,924,478
$1.9M
Market Conditions
NOI Build-Up for 14,850 SF
Gross rent
$335.0K $22.56/SF
− Vacancy
−$20.1K −$1.35/SF
EGI
$314.9K $21.21/SF
− OpEx
−$141.7K −$9.54/SF
NOI
$173.2K $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%
$3,464,060
Cap Rate 7%
$2,474,329
Cap Rate 9%
$1,924,478
Alternative Uses
Best Use
Apartment 5plus
$2.47M
$2.17M – $2.89M
NOI $173,203 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.50M
$3.94M – $5.25M
NOI $314,873 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,611
Businesses Nearby
Explore this area
Business Placement
Demographics for 85015, AZ
41,436
Population
17,889
Households
2.3
Avg Household Size
33
Median Age
25%
College-Educated
78%
High-School Grad
4.9 sq mi
ZIP Area
8,456
Density / Sq Mi
$52,585
Median Household Income
$36,456
Median Earnings
$1,227
Median Rent
$312,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - The community sits between Grand Canyon University and Central Phoenix employment centers, with each less than 2.5 miles away.
Where is this multifamily property located?
The property is located at 1603 W Denton Ln Phoenix, AZ.
What is the asking price?
The asking price for this property is $3,210,000.
What are key features of this property?
This property features: Multifamily community built in the 1980s; Single‑level building with studio units; Grand Canyon University and the Innovation Employment Corridor are each less than 2.5 miles away
