Updated Residential Income
For Sale
$322,000
170 E CORONADO Road 63, Phoenix, AZ 85004
Historic cooperative residence with modernized interiors, private garage access, and community pools in Midtown Phoenix.
Property Size1,300 SF
Price / SF$247.69
Days on Market88
Property Features for 170 E CORONADO Road 63
General Information
Standard status
Active
Size
1,300 SF
Total Parking Spaces
1
Property subtype
Apartment
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
two swimming pools
landscaped courtyards
in-unit washer/dryer
Building Details
Building Size
1,300 SF
Year Built
1957
Year Renovated
2025
Construction
Mid-Century Modern
Listing Agency:
Monte Vista Realty
Listed By:
Nicolas Capaz
(602) 791-6011
Source:
Alexiabertsatos
Added: Jun 22
Changed: Sep 10
Last Checked: Sep 16 at 11:55PM
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 Monte Vista Realty
Investment Insights
Based on property information with market context.
Unit 63 is a 2-bedroom, 2-bath residence within Villa del Coronado, a cooperative community developed in 1957 and listed on the National Register of Historic Places. The approximately 1,300-square-foot home features an open loft-style layout, red oak flooring, updated lighting, custom window coverings, remodeled bath finishes, and insulated tempered glass doors. A 2025 kitchen renovation added Electrolux induction cooking, Corian counters, tempered glass backsplashes, recessed lighting, an upgraded electrical panel, refinished cabinetry, a built-in Sub-Zero under-counter refrigerator/freezer, and a new connection to the living room. The residence also includes a full-size washer and dryer and a private garage space.
Community amenities include landscaped courtyards and two swimming pools, with one heated for year-round use. The HOA fee covers electricity, gas, water, sewer, trash collection, and property taxes. Owner occupancy is required, and short-term rentals are not permitted. Villa del Coronado is near the Phoenix Theatre Company, Phoenix Art Museum, Heard Museum, Japanese Friendship Garden, Arizona State University, and Encanto Light Rail Station.
Community amenities include landscaped courtyards and two swimming pools, with one heated for year-round use. The HOA fee covers electricity, gas, water, sewer, trash collection, and property taxes. Owner occupancy is required, and short-term rentals are not permitted. Villa del Coronado is near the Phoenix Theatre Company, Phoenix Art Museum, Heard Museum, Japanese Friendship Garden, Arizona State University, and Encanto Light Rail Station.
Key Highlights
- 2‑bedroom, 2‑bath residence with approximately 1,300 square feet
- 2025 kitchen renovation with Electrolux induction cooking and Sub‑Zero under‑counter refrigerator/freezer
- Private garage space and in‑unit full‑size washer and dryer
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
$15,163
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
4.71%
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%
$303,260
$303.3K
Cap Rate 7%
$216,614
$216.6K
Cap Rate 9%
$168,478
$168.5K
Market Conditions
NOI Build-Up for 1,300 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
$29.3K $22.56/SF
− Vacancy
−$1.8K −$1.35/SF
EGI
$27.6K $21.21/SF
− OpEx
−$12.4K −$9.54/SF
NOI
$15.2K $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%
$303,260
Cap Rate 7%
$216,614
Cap Rate 9%
$168,478
Alternative Uses
Best Use
Apartment 5plus
$216.6K
$189.5K – $252.7K
NOI $15,163 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$393.8K
$344.6K – $459.4K
NOI $27,565 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,206
Businesses Nearby
Explore this area
Business Placement
Demographics for 85004, AZ
8,833
Population
6,455
Households
1.4
Avg Household Size
32
Median Age
59%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
4,206
Density / Sq Mi
$71,250
Median Household Income
$46,376
Median Earnings
$1,759
Median Rent
$365,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Historic cooperative residence with modernized interiors, private garage access, and community pools in Midtown Phoenix.
Where is this residential income property located?
The property is located at 170 E CORONADO Road 63 Phoenix, AZ.
What is the asking price?
The asking price for this property is $322,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath residence with approximately 1,300 square feet; 2025 kitchen renovation with Electrolux induction cooking and Sub‑Zero under‑counter refrigerator/freezer; Private garage space and in‑unit full‑size washer and dryer
