16-Unit Apartment
For Sale
Contact for pricing
1709 W Monte Vista Rd, Phoenix, AZ 85009
Two-story residential buildings offer an all two-bedroom, one-bathroom floor plan mix in Phoenix’s North Mountain corridor.
Property Size12,160 SF
Lot Size0.44 Acres
Price / SF$246.71
Days on Market161
Property Features for 1709 W Monte Vista Rd
General Information
Standard status
Active
Size
12,160 SF
Net Rentable
12,160 SF
Lot size
0.44 Acres
Property subtype
Multifamily
Units
Unit Mix
16 x 2BR/1BA
Multifamily Units
16
Building Details
Year Built
1985
Buildings
2
Stories
2
Units
16
Listing Agency:
ORION Investment Real Estate
(623) 533-1746
Listed By:
Colt Siler · License #AZ SA691810000
Source:
Crexi
Added: Mar 24
Changed: Aug 29
Last Checked: Aug 29 at 4:25PM
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 ORION Investment Real Estate
Investment Insights
Based on property information with market context.
Located at 1709 W Monte Vista Road in Phoenix, Monte Vista Apartments comprises two two-story residential buildings with 16 units and approximately 12,160 rentable square feet. Constructed in 1985, the property sits on a .44-acre parcel and contains an all two-bedroom, one-bathroom unit mix. The residences average approximately 760 square feet each.
The property is positioned in Phoenix’s North Mountain submarket, with access to major employment centers, retail amenities, and transportation corridors. Its residential layout and consistent unit configuration provide a clearly defined multifamily offering within the Phoenix metropolitan area.
The property is positioned in Phoenix’s North Mountain submarket, with access to major employment centers, retail amenities, and transportation corridors. Its residential layout and consistent unit configuration provide a clearly defined multifamily offering within the Phoenix metropolitan area.
Key Highlights
- 16‑unit apartment property at 1709 W Monte Vista Rd, Phoenix, AZ 85009
- Two two‑story residential buildings totaling approximately 12,160 rentable square feet
- All units are two‑bedroom, one‑bathroom floor plans
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
$141,828
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
4.73%
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%
$2,836,560
$2.8M
Cap Rate 7%
$2,026,114
$2.0M
Cap Rate 9%
$1,575,867
$1.6M
Market Conditions
NOI Build-Up for 12,160 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
$274.3K $22.56/SF
− Vacancy
−$16.5K −$1.35/SF
EGI
$257.9K $21.21/SF
− OpEx
−$116.0K −$9.54/SF
NOI
$141.8K $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%
$2,836,560
Cap Rate 7%
$2,026,114
Cap Rate 9%
$1,575,867
Alternative Uses
Best Use
Apartment 5plus
$2.03M
$1.77M – $2.36M
NOI $141,828 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.68M
$3.22M – $4.30M
NOI $257,836 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
1,110
Businesses Nearby
Explore this area
Business Placement
Demographics for 85009, AZ
50,439
Population
14,873
Households
3.4
Avg Household Size
31
Median Age
7%
College-Educated
59%
High-School Grad
14.7 sq mi
ZIP Area
3,431
Density / Sq Mi
$51,615
Median Household Income
$29,674
Median Earnings
$1,128
Median Rent
$215,300
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?
Apartment building - Two-story residential buildings offer an all two-bedroom, one-bathroom floor plan mix in Phoenix’s North Mountain corridor.
Where is this apartment building located?
The property is located at 1709 W Monte Vista Rd Phoenix, AZ.
What is the asking price?
The asking price for this property is $2,999,999.
What are key features of this property?
This property features: 16‑unit apartment property at 1709 W Monte Vista Rd, Phoenix, AZ 85009; Two two‑story residential buildings totaling approximately 12,160 rentable square feet; All units are two‑bedroom, one‑bathroom floor plans
