Remodeled Downtown
For Sale
$419,850
1624 W White Mountain Boulevard, Lakeside, AZ 85929
MULTI_FAMILY - Other - Lakeside, AZ
Property Size2,375 SF
Lot Size0.20 Acres
Price / SF$176.78
Days on Market96
Property Features for 1624 W White Mountain Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-3/C-1
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 4, Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 2
Window features
Double Pane Windows
Subdivision
Lakeside Townsite
Elementary school district
Blue Ridge
Middle school district
Blue Ridge
High school district
Blue Ridge
Directions
Corner of White Mountain Blvd and Johnson in down town Lakeside.
Standard status
Active
APN
212-28-047
Size
2,375 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
LAKESIDE TOWNSITE: N 80' LOTS 1 & 2, BLOCK 12 AKA: BEG NE COR SEC26,T9N,R22E;TH S0DG41'W 1687.32'TPOB; TH W 286.19' TO HWY R/W;THS1DG13'W ALG R/W 80.8'; T H E313.67';TH N 80';TH W 27.5'TPOB
Tax Annual Amount
3161
Legal Description
LAKESIDE TOWNSITE: N 80' LOTS 1 & 2, BLOCK 12 AKA: BEG NE COR SEC26,T9N,R22E;TH S0DG41'W 1687.32'TPOB; TH W 286.19' TO HWY R/W;THS1DG13'W ALG R/W 80.8'; T H E313.67';TH N 80';TH W 27.5'TPOB
Building Details
Year built
1976
Floors in Building
1
Flooring type
Linoleum
Building materials
Wood Frame
Roof type
Flat
Architectural style
Other
Listing Agency:
Frank M. Smith & Associates - Main
(928) 369-4000
Listed By:
Dean Nelson · License #SA108335000
(928) 521-0215
Added: May 8
Changed: Jul 8
Last Checked: Aug 11 at 11:06PM
MLS# 261048
Copyright © 2026 White Mountain Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This remodeled duplex offers a practical two-unit configuration suited for owner-occupancy or full rental use. The property was remodeled in 2024, providing updated condition for a straightforward live-in and rent alternative, or for an investor looking to operate both units.
Located in downtown Lakeside on a corner at the intersection of White Mountain Boulevard and Johnson, the home benefits from highway frontage. The property sits on a relatively small lot and is zoned R-3/C-1, which may support a range of residential and commercial-compatible considerations under the applicable local zoning framework.
For tenants, buyers, or operators seeking a duplex in a central Lakeside setting, the layout supports the “live in one, rent the other” approach described in the listing. With both units available to rent, the property also fits buyers looking for a two-door income property while maintaining the option to occupy one side themselves.
Located in downtown Lakeside on a corner at the intersection of White Mountain Boulevard and Johnson, the home benefits from highway frontage. The property sits on a relatively small lot and is zoned R-3/C-1, which may support a range of residential and commercial-compatible considerations under the applicable local zoning framework.
For tenants, buyers, or operators seeking a duplex in a central Lakeside setting, the layout supports the “live in one, rent the other” approach described in the listing. With both units available to rent, the property also fits buyers looking for a two-door income property while maintaining the option to occupy one side themselves.
Key Highlights
- Duplex in downtown Lakeside on the corner of White Mountain Blvd and Johnson
- Highway frontage; zoning R‑3/C‑1
- Remodeled in 2024 with a layout offering four bedrooms and four bathrooms
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
$18,802
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
4.48%
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%
$376,040
$376.0K
Cap Rate 7%
$268,600
$268.6K
Cap Rate 9%
$208,911
$208.9K
Market Conditions
NOI Build-Up for 2,375 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
$29.1K $12.24/SF
− Vacancy
−$2.2K −$0.93/SF
EGI
$26.9K $11.31/SF
− OpEx
−$8.1K −$3.39/SF
NOI
$18.8K $7.92/SF
Area
Navajo County, AZ
Vacancy
7.60%
Lease Rate
$12.24 /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%
$376,040
Cap Rate 7%
$268,600
Cap Rate 9%
$208,911
Alternative Uses
Best Use
Multifamily LT 5
$268.6K
$235.0K – $313.4K
NOI $18,802 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$239.0K
$209.1K – $278.8K
NOI $16,728 @ 7.0% cap · market cap 3.98%
Theoretical Best
Specialty Retail
$645.4K
$564.7K – $753.0K
NOI $45,178 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
Explore this area
Business Placement
Demographics for 85929, AZ
8,040
Population
5,089
Households
1.6
Avg Household Size
51
Median Age
23%
College-Educated
88%
High-School Grad
34.1 sq mi
ZIP Area
236
Density / Sq Mi
$56,837
Median Household Income
$36,535
Median Earnings
$1,117
Median Rent
$250,100
Median Home Value
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?
Duplex - Remodeled duplex with highway frontage and flexible live-in or rental setup in downtown Lakeside.
Where is this duplex located?
The property is located at 1624 W White Mountain Boulevard Lakeside, AZ.
What is the asking price?
The asking price for this property is $419,850.
What are key features of this property?
This property features: Duplex in downtown Lakeside on the corner of White Mountain Blvd and Johnson; Highway frontage; zoning R‑3/C‑1; Remodeled in 2024 with a layout offering four bedrooms and four bathrooms
