Class A Stabilized 12-Unit
17444 North 32nd Street Phoenix, AZ 85032
17444 North 32nd Street, Phoenix, AZ, 85032
Contact for pricing
For Sale
Contact for pricing
New 2022 Class A community with 12 fully stabilized units, designer kitchens, in-unit laundry, and modern finishes.
Property Size17,184 SF
Price / SF$290.68
Days on Market57
Property Features for 17444 North 32nd Street
General Information
- Standard status
- Active
- Size
- 17,184 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2023
Listing agency
HomeSmart
Listed by
Collin Corsmeier · License #AZ: SA694454000
Source
Crexi
Added: May 28 Updated: Jul 10 at 1:51PM Checked: Jul 22 at 3:25PM
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 HomeSmart
Investment Insights
Based on property information with market context.
Campo Bello Apartments is a newly constructed, Class A multifamily community completed in 2022. The property is a fully stabilized 12-unit boutique asset featuring modern design and high-end, low-maintenance finishes. Residences are configured as oversized two- and three-bedroom floor plans averaging ±1,432 square feet, offering a more condo-like layout within a rental setting. Interiors include fully appointed designer kitchens with full-size stainless steel appliances, including a refrigerator, dishwasher, and in-unit washer and dryer. Bathrooms feature combo tub/shower designs for everyday comfort.
Located in North Phoenix, Campo Bello is positioned near Paradise Valley Community College and just minutes from State Route 51 and Loop 101. The community is situated just west of State Route 51, with access to nearby walkable grocery, parks, and everyday conveniences.
For investors or operators seeking a turn-key, stabilized apartment acquisition, Campo Bello’s 2022 construction and efficient, modern systems are designed to support straightforward management. The current performance is supported by a 2025 cap rate of 5.66%, ending the year at $288,781 net, aligning with buyers looking for an established operating profile in a newer Class A boutique format.
Located in North Phoenix, Campo Bello is positioned near Paradise Valley Community College and just minutes from State Route 51 and Loop 101. The community is situated just west of State Route 51, with access to nearby walkable grocery, parks, and everyday conveniences.
For investors or operators seeking a turn-key, stabilized apartment acquisition, Campo Bello’s 2022 construction and efficient, modern systems are designed to support straightforward management. The current performance is supported by a 2025 cap rate of 5.66%, ending the year at $288,781 net, aligning with buyers looking for an established operating profile in a newer Class A boutique format.
Key Highlights
- Newly built 12‑unit Class A multifamily community (year built 2023, built in 2022) with stabilized operations
- Stated 2025 cap rate of 5.66%, ending the year at $288,781 net
- Oversized 2- and 3‑bedroom floor plans averaging ±1,432 SF
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $340.2k | $19.80 |
| − Vacancy | −$23.1k | −$1.35 |
| EGI | $317.1k | $18.45 |
| − OpEx | −$142.7k | −$8.30 |
| NOI | $174.4k | $10.15 |
17,184 SF · lease $19.80/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.49M
$2.18M – $2.91M
NOI $174,409 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.19M
$4.55M – $6.06M
NOI $363,602 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Campo Bello Apartment ...
Apartment Building
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - New 2022 Class A community with 12 fully stabilized units, designer kitchens, in-unit laundry, and modern finishes.
Where is this apartment building located?
The property is located at 17444 North 32nd Street Phoenix, AZ.
What is the asking price?
The asking price for this property is $4,995,000.
What are key features of this property?
This property features: Newly built 12‑unit Class A multifamily community (year built 2023, built in 2022) with stabilized operations; Stated 2025 cap rate of 5.66%, ending the year at $288,781 net; Oversized 2- and 3‑bedroom floor plans averaging ±1,432 SF
