Four-Unit
For Sale
$995,000
1702 E Cambridge Ave, Phoenix, AZ 85006
Four spacious units support a renovation-oriented multifamily strategy.
Property Size3,544 SF
Days on Market10
Property Features for 1702 E Cambridge Ave
General Information
Standard status
Active
Size
3,544 SF
Property subtype
Multifamily
Occupancy
94%
Additional Details
Cap Rate
4.78%
Highway Access
Yes
Multifamily Units
4
Amenities
Two-Property Value-Add Portfolio with Large Floorplans and Newer Vintage Offering Immediate Access to Powerful Employment Corridors and Sky Harbor Airport
McKinley | Low-density configuration offers the potential for adding additional units.
Available individually and as a portfolio.
Building Details
Building Size
3,544 SF
Units
4
Listing Agency:
Phoenix Office
(602) 687-6679
Listed By:
Paul Bay · License #License(s): AZ: SA671037000
(602) 687-6679
Source:
Marcusmillichap
Added: Aug 23
Changed: Aug 30
Last Checked: Aug 31 at 12:37PM
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.
This four-unit multifamily property at 1702 E Cambridge Ave in Phoenix offers average unit sizes of approximately 886 square feet. The property has an average vintage of 1995 and provides a basis for interior and exterior renovation work.
The site is positioned near the Innovation Corridor, Phoenix Sky Harbor International Airport, and Phoenix Children’s Hospital, with freeway access connecting to destinations throughout the Valley. Additional land may support future unit development, subject to zoning, site planning, and municipal approvals.
The site is positioned near the Innovation Corridor, Phoenix Sky Harbor International Airport, and Phoenix Children’s Hospital, with freeway access connecting to destinations throughout the Valley. Additional land may support future unit development, subject to zoning, site planning, and municipal approvals.
Key Highlights
- Four‑unit multifamily community
- Average unit size of approximately 886 square feet
- Average vintage of 1995
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
$46,418
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
4.67%
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%
$928,360
$928.4K
Cap Rate 7%
$663,114
$663.1K
Cap Rate 9%
$515,756
$515.8K
Market Conditions
NOI Build-Up for 3,544 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
$70.2K $19.80/SF
− Vacancy
−$3.9K −$1.09/SF
EGI
$66.3K $18.71/SF
− OpEx
−$19.9K −$5.61/SF
NOI
$46.4K $13.10/SF
Area
Phoenix, AZ
Vacancy
5.50%
Lease Rate
$19.80 /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%
$928,360
Cap Rate 7%
$663,114
Cap Rate 9%
$515,756
Alternative Uses
Best Use
Multifamily LT 5
$663.1K
$580.2K – $773.6K
NOI $46,418 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$590.5K
$516.7K – $688.9K
NOI $41,336 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$1.07M
$939.3K – $1.25M
NOI $75,146 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,760
Businesses Nearby
Explore this area
Business Placement
Demographics for 85006, AZ
23,797
Population
10,607
Households
2.2
Avg Household Size
34
Median Age
27%
College-Educated
78%
High-School Grad
4.0 sq mi
ZIP Area
5,949
Density / Sq Mi
$60,742
Median Household Income
$39,899
Median Earnings
$1,168
Median Rent
$376,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four spacious units support a renovation-oriented multifamily strategy.
Where is this quadplex located?
The property is located at 1702 E Cambridge Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Four‑unit multifamily community; Average unit size of approximately 886 square feet; Average vintage of 1995
