Ground-Floor Residential Income
For Sale
$609,500
21320 N 56th Street #1116, Phoenix, AZ 85054
The 2-bedroom layout includes a separate den with a built-in desk and cabinetry.
Property Size1,697 SF
Price / SF$363.01
Days on Market49
Property Features for 21320 N 56th Street #1116
General Information
Standard status
Active
Size
1,697 SF
Total Parking Spaces
2
Property subtype
Apartment
Units
Unit Mix
1 x 2BR+den
Multifamily Units
1
Additional Details
Highway Access
Yes
Amenities
gated community
pool
spa
fitness center
walking paths
fireplace
granite countertops
stainless steel appliances
gas range
custom tile backsplash
built-in desk and cabinetry
washer/dryer
utility sink
enclosed patio
Building Details
Building Size
1,697 SF
Year Built
2007
Stories
1
Listing Agency:
SERHANT.
Listed By:
Mary Jo Santistevan · License #SA581367000
(480) 703-4085
Source:
Karolinakemski.kw
Added: Aug 21
Changed: Oct 7
Last Checked: Oct 7 at 2:31PM
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 SERHANT.
Investment Insights
Based on property information with market context.
Located in the gated Bella Monte at Desert Ridge community, this 1,679-square-foot ground-floor residence has two bedrooms, a den, and a split-bedroom layout. The living room includes a fireplace and connects to an eat-in kitchen with granite countertops, stainless steel appliances, and a gas range. The primary suite has dual vanities, a walk-in shower, and a walk-in closet. A second full bath, laundry room with washer and dryer, and enclosed patio round out the interior features. The two-car tandem garage has built-in cabinetry.
Community amenities include three heated pools and spas, three fitness centers, and walking paths. Desert Ridge Marketplace and High Street are nearby, with access to Loop 101 and SR-51.
Community amenities include three heated pools and spas, three fitness centers, and walking paths. Desert Ridge Marketplace and High Street are nearby, with access to Loop 101 and SR-51.
Key Highlights
- 1,679‑square‑foot residence with 2 bedrooms and a den
- Ground‑floor layout with an enclosed patio overlooking green space and the community pool
- Two‑car tandem garage with built‑in cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,583
Cap Rate
3.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$391,660
$391.7K
Cap Rate 7%
$279,757
$279.8K
Cap Rate 9%
$217,589
$217.6K
Market Conditions
NOI Build-Up for 1,679 SF
Gross rent
$37.9K $22.56/SF
− Vacancy
−$2.3K −$1.35/SF
EGI
$35.6K $21.21/SF
− OpEx
−$16.0K −$9.54/SF
NOI
$19.6K $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%
$391,660
Cap Rate 7%
$279,757
Cap Rate 9%
$217,589
Alternative Uses
Best Use
Apartment 5plus
$279.8K
$244.8K – $326.4K
NOI $19,583 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$508.6K
$445.0K – $593.4K
NOI $35,601 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
489
Businesses Nearby
Explore this area
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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Frequently Asked Questions
What type of property is this?
Residential income property - The 2-bedroom layout includes a separate den with a built-in desk and cabinetry.
Where is this residential income property located?
The property is located at 21320 N 56th Street #1116 Phoenix, AZ.
What is the asking price?
The asking price for this property is $609,500.
What are key features of this property?
This property features: 1,679‑square‑foot residence with 2 bedrooms and a den; Ground‑floor layout with an enclosed patio overlooking green space and the community pool; Two‑car tandem garage with built‑in cabinetry
