Upgraded Residential Income
For Sale
$374,900
1624 E Campbell Avenue 12, Phoenix, AZ 85016
Contemporary unit with renovated finishes, a private patio, and access to a community pool.
Property Size1,216 SF
Days on Market11
Property Features for 1624 E Campbell Avenue 12
General Information
Standard status
Active
Size
1,216 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$731
Building Details
Building Size
1,216 SF
Year Built
1973
Listing Agency:
DeLex Realty
Listed By:
Stephen R Rouse · License #SA568708000
(602) 930-9393
Source:
Jcluxuryresidential
Added: Sep 17
Changed: Sep 22
Last Checked: Sep 26 at 3:41PM
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 DeLex Realty
Investment Insights
Based on property information with market context.
This residential income property is a contemporary unit built in 1973 and updated with a detailed interior finish package. The kitchen includes granite work surfaces, stainless-steel appliances, a French-door refrigerator, a trivection oven, a professional gas cooktop, an illuminated hood, modern cabinetry, and under-cabinet lighting. Recessed LED fixtures and remote-controlled ceiling fans add to the interior improvements.
Bamboo flooring appears in the front rooms, while Italian tile extends through the remaining areas. The bathrooms feature wood vanities, porcelain vessel sinks, and designer sconce lighting. A private patio provides outdoor space, and residents have access to a community pool. The property is positioned south of the Camelback Corridor and near restaurants and shopping.
Bamboo flooring appears in the front rooms, while Italian tile extends through the remaining areas. The bathrooms feature wood vanities, porcelain vessel sinks, and designer sconce lighting. A private patio provides outdoor space, and residents have access to a community pool. The property is positioned south of the Camelback Corridor and near restaurants and shopping.
Key Highlights
- Contemporary unit built in 1973 with upgraded interior finishes
- Kitchen with granite counters, stainless‑steel appliances, trivection oven, and gas cooktop
- Bamboo flooring in front rooms and Italian tile throughout remaining spaces
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
$14,183
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
3.78%
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%
$283,660
$283.7K
Cap Rate 7%
$202,614
$202.6K
Cap Rate 9%
$157,589
$157.6K
Market Conditions
NOI Build-Up for 1,216 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
$27.4K $22.56/SF
− Vacancy
−$1.6K −$1.35/SF
EGI
$25.8K $21.21/SF
− OpEx
−$11.6K −$9.54/SF
NOI
$14.2K $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 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%
$283,660
Cap Rate 7%
$202,614
Cap Rate 9%
$157,589
Alternative Uses
Best Use
Apartment 5plus
$202.6K
$177.3K – $236.4K
NOI $14,183 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$368.3K
$322.3K – $429.7K
NOI $25,784 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,388
Businesses Nearby
Explore this area
Business Placement
Demographics for 85016, AZ
37,326
Population
21,363
Households
1.7
Avg Household Size
38
Median Age
50%
College-Educated
94%
High-School Grad
8.2 sq mi
ZIP Area
4,552
Density / Sq Mi
$85,085
Median Household Income
$53,781
Median Earnings
$1,575
Median Rent
$508,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Contemporary unit with renovated finishes, a private patio, and access to a community pool.
Where is this residential income property located?
The property is located at 1624 E Campbell Avenue 12 Phoenix, AZ.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: Contemporary unit built in 1973 with upgraded interior finishes; Kitchen with granite counters, stainless‑steel appliances, trivection oven, and gas cooktop; Bamboo flooring in front rooms and Italian tile throughout remaining spaces
