Two-Bedroom Residential
New
For Sale
$299,000
2302 N CENTRAL Avenue 404, Phoenix, AZ 85004
Fourth-floor home includes a separate den, gas fireplace, and private balcony with city and mountain views.
Property Size1,277 SF
Days on Market4
Property Features for 2302 N CENTRAL Avenue 404
General Information
Standard status
Active
Size
1,277 SF
Total Parking Spaces
2
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,379
Amenities
gas cooking
indoor laundry room
gas fireplace
private balcony
heated pool
spa
sauna
fitness center
Building Details
Building Size
1,277 SF
Year Built
2007
Listing Agency:
Russ Lyon Sotheby's International Realty
Listed By:
Aneezah Nabee Hawkins
(480) 793-6851
Source:
Alexiabertsatos
Added: Oct 3
Changed: Oct 6
Last Checked: Oct 6 at 2:43AM
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 Russ Lyon Sotheby's International Realty
Investment Insights
Based on property information with market context.
This fourth-floor residence at Tapestry on Central has a split two-bedroom layout, a separate den near the entry, and a central living area with a gas fireplace. The kitchen is equipped for gas cooking, with an indoor laundry room alongside it. A private balcony extends the living space, and the home includes two assigned spaces in a gated underground garage. The building was constructed in 2007.
Residents have access to a heated pool, spa, sauna, and fitness center. The property is across from the Encanto Light Rail station and near the Heard Museum, Phoenix Art Museum, and local dining.
Residents have access to a heated pool, spa, sauna, and fitness center. The property is across from the Encanto Light Rail station and near the Heard Museum, Phoenix Art Museum, and local dining.
Key Highlights
- Two‑bedroom split layout with separate den
- Private balcony with city and mountain views
- Gas cooking and indoor laundry room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,894
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$297,880
$297.9K
Cap Rate 7%
$212,771
$212.8K
Cap Rate 9%
$165,489
$165.5K
Market Conditions
NOI Build-Up for 1,277 SF
Gross rent
$28.8K $22.56/SF
− Vacancy
−$1.7K −$1.35/SF
EGI
$27.1K $21.21/SF
− OpEx
−$12.2K −$9.54/SF
NOI
$14.9K $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%
$297,880
Cap Rate 7%
$212,771
Cap Rate 9%
$165,489
Alternative Uses
Best Use
Apartment 5plus
$212.8K
$186.2K – $248.2K
NOI $14,894 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$386.8K
$338.5K – $451.3K
NOI $27,077 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,992
Businesses Nearby
Explore this area
Business Placement
Demographics for 85004, AZ
8,833
Population
6,455
Households
1.4
Avg Household Size
32
Median Age
59%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
4,206
Density / Sq Mi
$71,250
Median Household Income
$46,376
Median Earnings
$1,759
Median Rent
$365,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Fourth-floor home includes a separate den, gas fireplace, and private balcony with city and mountain views.
Where is this residential income property located?
The property is located at 2302 N CENTRAL Avenue 404 Phoenix, AZ.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑bedroom split layout with separate den; Private balcony with city and mountain views; Gas cooking and indoor laundry room
