Newer 8-Unit Townhome
21050 N 23RD AVE Phoenix, AZ 85027
21050 N 23RD AVE, Phoenix, AZ, 85027
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For Sale
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Eight Class A townhomes were built in 2023 and are offered for sale as a multifamily income property.
Property Size12,000 SF
Price / SF$291.67
Days on Market86
Property Features for 21050 N 23RD AVE
General Information
- Standard status
- Active
- Size
- 12,000 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2023
Listing agency
Newmark - Phoenix
Listed by
Ryan Ash · License #AZ
Source
Crexi
Added: Apr 29 Updated: Jul 20 at 10:32PM Checked: Jul 22 at 8:30AM
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 Newmark - Phoenix
Investment Insights
Based on property information with market context.
This offering is an 8-unit Class A townhome community built in 2023. The property is presented for sale as a residential income asset with all units within a cohesive townhome configuration.
The public remarks note the location as near Taiwan Semiconductor Manufacturing Company (TSMC), which may support demand for well-located housing in the area.
As a newer multifamily structure, this is positioned as a purpose-built townhome product within an 8-unit setup.
The public remarks note the location as near Taiwan Semiconductor Manufacturing Company (TSMC), which may support demand for well-located housing in the area.
As a newer multifamily structure, this is positioned as a purpose-built townhome product within an 8-unit setup.
Key Highlights
- 8‑unit Class A townhome multifamily property
- Townhomes were built in 2023 (YearBuilt: 2023)
- Located near Taiwan Semiconductor Manufacturing Company (TSMC)
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 | $270.7k | $22.56 |
| − Vacancy | −$16.2k | −$1.35 |
| EGI | $254.5k | $21.21 |
| − OpEx | −$114.5k | −$9.54 |
| NOI | $140.0k | $11.66 |
12,000 SF · lease $22.56/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.00M
$1.75M – $2.33M
NOI $139,962 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.63M
$3.18M – $4.24M
NOI $254,443 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Eight Class A townhomes were built in 2023 and are offered for sale as a multifamily income property.
Where is this apartment building located?
The property is located at 21050 N 23RD AVE Phoenix, AZ.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 8‑unit Class A townhome multifamily property; Townhomes were built in 2023 (YearBuilt: 2023); Located near Taiwan Semiconductor Manufacturing Company (TSMC)
