Two-Bedroom Residential Income
17850 N 68th Street #3063, Phoenix, AZ 85054
For Sale
New
$450,000
The gated-community residence includes a tandem garage, private patio, and access to a pool and outdoor grills.
Property Size1,092 SF
Price / SF$412.09
Days on Market5
Property Features for 17850 N 68th Street #3063
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
gated community
outdoor grills
community swimming pool
3/4 Bath Master Bdrm
Double Vanity
Eat-in Kitchen
Breakfast Bar
Quartz Countertops
High Speed Internet
9+ Flat Ceilings
No Interior Steps
Balcony
Building Details
Building Size
Year Built
Stories
Listing Agency:
Realty Executives Arizona Territory
(602) 755-8556
Listed By:
Matthew W. Long · License AZ SA645379000
(480) 330-6788
Source:
Justsellingaz
Added: Nov 11
Changed: Nov 12
Last Checked: Nov 14 at 6:08PM
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 Realty Executives Arizona Territory
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Investment Insights
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This 1,092-square-foot condominium has two bedrooms, two full bathrooms, and an open-plan layout. The kitchen features quartz counters, shaker cabinets, stainless steel appliances, a gas cooking hookup, and a peninsula. Raised ceilings, dual-pane low-E windows, tile flooring, updated plumbing and lighting fixtures, and a living room fireplace are among the interior features. The primary suite has a walk-in closet, dual vanity, and large shower. A two-car tandem garage and private patio complete the residence.
The home is in Monterey Ridge, a gated community in Phoenix’s Desert Ridge area. Community amenities include a swimming pool and outdoor grills. Kierland Commons, Scottsdale Air Park, and Desert Ridge are noted as nearby destinations.
Full PEX repiping is scheduled for completion at the end of October; the work is fully covered, with no cost or assessment to the buyer.
The home is in Monterey Ridge, a gated community in Phoenix’s Desert Ridge area. Community amenities include a swimming pool and outdoor grills. Kierland Commons, Scottsdale Air Park, and Desert Ridge are noted as nearby destinations.
Full PEX repiping is scheduled for completion at the end of October; the work is fully covered, with no cost or assessment to the buyer.
Key Highlights
- 1,092‑square‑foot condominium with 2 bedrooms and 2 full baths
- Kitchen includes quartz counters, shaker cabinetry, stainless steel appliances, gas cooking hookup, and a peninsula
- Two‑car tandem garage and private patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,737
Cap Rate
2.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$254,740
$254.7K
Cap Rate 7%
$181,957
$182.0K
Cap Rate 9%
$141,522
$141.5K
Market Conditions
NOI Build-Up for 1,092 SF
Gross rent
$24.6K $22.56/SF
− Vacancy
−$1.5K −$1.35/SF
EGI
$23.2K $21.21/SF
− OpEx
−$10.4K −$9.54/SF
NOI
$12.7K $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 Rate 5%
$254,740
Cap Rate 7%
$181,957
Cap Rate 9%
$141,522
Alternative Uses
Best Use
Apartment 5plus
$182.0K
$159.2K – $212.3K
NOI $12,737 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$330.8K
$289.4K – $385.9K
NOI $23,154 @ 7.0% cap · market cap 5.15%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
739
Businesses Nearby
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Business Placement
Demographics for 85054, AZ
8,849
Population
6,271
Households
1.4
Avg Household Size
39
Median Age
61%
College-Educated
98%
High-School Grad
8.6 sq mi
ZIP Area
1,029
Density / Sq Mi
$89,099
Median Household Income
$64,554
Median Earnings
$2,146
Median Rent
$618,100
Median Home Value
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Market
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Frequently Asked Questions
What type of property is this?
Residential income property - The gated-community residence includes a tandem garage, private patio, and access to a pool and outdoor grills.
Where is this residential income property located?
The property is located at 17850 N 68th Street #3063 Phoenix, AZ.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,092‑square‑foot condominium with 2 bedrooms and 2 full baths; Kitchen includes quartz counters, shaker cabinetry, stainless steel appliances, gas cooking hookup, and a peninsula; Two‑car tandem garage and private patio
