Four-Unit Apartment
For Sale
Contact for pricing
2004 Pasadena Avenue, Kingman, AZ 86401
Well-maintained fourplex with occupied two-story units, private outdoor space, and off-street parking.
Property Size7,436 SF
Price / SF$87.41
Days on Market52
Property Features for 2004 Pasadena Avenue
General Information
Standard status
Active
Size
7,436 SF
Property subtype
Multifamily
Zoning
Multifamily
Occupancy
100%
Additional Details
Multifamily Units
4
Building Details
Year Built
1983
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Kingman Premier Properties
Listed By:
Carol Darrow · License #AZ SA646035000
Source:
Crexi
Added: Jun 22
Changed: Aug 8
Last Checked: Jul 19 at 7:19AM
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 Kingman Premier Properties
Investment Insights
Based on property information with market context.
This well-maintained four-unit multifamily property features four two-story units, each offering two bedrooms and 1.5 bathrooms. Units include a fireplace, a private balcony, and an in-unit washer and dryer area. Sliding glass doors in each unit help bring in natural light, and each unit also has access to a small fenced yard. The property includes a large designated off-street parking area sized for both residents and guests.
The building is located in a convenient Kingman area near Historic Route 66, Kingman Regional Medical Center, and local shopping and dining. It is also near a fire station and offers easy access to major roads and nearby services within an established residential setting.
For buyers seeking a turn-key income property with tenants already in place, this fourplex presents an on-site operating setup with consistent unit amenities across all four units, including private outdoor space and in-unit laundry area. With ample off-street parking, the property can support everyday resident and guest access, and showings are available by appointment only with tenants not to be disturbed.
The building is located in a convenient Kingman area near Historic Route 66, Kingman Regional Medical Center, and local shopping and dining. It is also near a fire station and offers easy access to major roads and nearby services within an established residential setting.
For buyers seeking a turn-key income property with tenants already in place, this fourplex presents an on-site operating setup with consistent unit amenities across all four units, including private outdoor space and in-unit laundry area. With ample off-street parking, the property can support everyday resident and guest access, and showings are available by appointment only with tenants not to be disturbed.
Key Highlights
- Well‑maintained 4‑unit multifamily property built in 1983
- All four two‑story units are occupied with tenants in place
- Each unit offers 2 bedrooms, 1.5 bathrooms, and a fireplace
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
$55,482
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
8.54%
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%
$1,109,640
$1.1M
Cap Rate 7%
$792,600
$792.6K
Cap Rate 9%
$616,467
$616.5K
Market Conditions
NOI Build-Up for 7,436 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
$84.8K $11.40/SF
− Vacancy
−$5.5K −$0.74/SF
EGI
$79.3K $10.66/SF
− OpEx
−$23.8K −$3.20/SF
NOI
$55.5K $7.46/SF
Area
Mohave County, AZ
Vacancy
6.50%
Lease Rate
$11.40 /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%
$1,109,640
Cap Rate 7%
$792,600
Cap Rate 9%
$616,467
Alternative Uses
Best Use
Multifamily LT 5
$792.6K
$693.5K – $924.7K
NOI $55,482 @ 7.0% cap · market cap 8.54%
Second Best
Apartment 5plus
$739.7K
$647.2K – $863.0K
NOI $51,779 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,216 @ 7.0% cap · market cap 17.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
Explore this area
Business Placement
Demographics for 86401, AZ
27,684
Population
13,662
Households
2
Avg Household Size
48
Median Age
18%
College-Educated
92%
High-School Grad
1,226.3 sq mi
ZIP Area
23
Density / Sq Mi
$64,087
Median Household Income
$40,678
Median Earnings
$1,045
Median Rent
$247,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained fourplex with occupied two-story units, private outdoor space, and off-street parking.
Where is this quadplex located?
The property is located at 2004 Pasadena Avenue Kingman, AZ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Well‑maintained 4‑unit multifamily property built in 1983; All four two‑story units are occupied with tenants in place; Each unit offers 2 bedrooms, 1.5 bathrooms, and a fireplace
