Residential Income Property with
For Sale
$600,000
2323 N Central Ave #1401, Phoenix, AZ 85004
A corner residence pairs two en-suite bedrooms with a chef’s kitchen and extensive building amenities.
Property Size1,812 SF
Price / SF$331.13
Days on Market8
Property Features for 2323 N Central Ave #1401
General Information
Standard status
Active
Size
1,812 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Amenities
24/7 door staff
heated pool/spa
gym
dog park
secured parking
Building Details
Year Built
1964
Listing Agency:
Vantage Advisors LLC
Listed By:
Cook & Associates Real Estate Advisors
(480) 442-9868
Source:
Viewarizonahomesforsale
Added: Oct 9
Changed: Oct 16
Last Checked: Oct 16 at 8:57AM
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 Vantage Advisors LLC
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Investment Insights
Based on property information with market context.
Set on the 14th floor, this 1,812-square-foot corner residence has two en-suite bedrooms and room to restore a third bedroom or office. Wraparound balconies connect to every room. Interior features include floor-to-ceiling dual-pane glass and a Wolf and Miele kitchen. The building dates to 1964.
The HOA covers air conditioning, water, trash, secured parking, and access to a heated pool and spa, gym, and dog park. Building services include a staffed front desk around the clock. The property is in Phoenix’s Midtown Arts District, near the Phoenix Art Museum, Phoenix Theatre, Arizona Opera, and Roosevelt Row. Light rail provides access to downtown sports venues.
The HOA covers air conditioning, water, trash, secured parking, and access to a heated pool and spa, gym, and dog park. Building services include a staffed front desk around the clock. The property is in Phoenix’s Midtown Arts District, near the Phoenix Art Museum, Phoenix Theatre, Arizona Opera, and Roosevelt Row. Light rail provides access to downtown sports venues.
Key Highlights
- 1,812 square feet on the 14th floor
- Corner residence with wraparound balconies accessible from every room
- Two en‑suite bedrooms, with space to restore a third bedroom or office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,134
Cap Rate
3.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$422,680
$422.7K
Cap Rate 7%
$301,914
$301.9K
Cap Rate 9%
$234,822
$234.8K
Market Conditions
NOI Build-Up for 1,812 SF
Gross rent
$40.9K $22.56/SF
− Vacancy
−$2.5K −$1.35/SF
EGI
$38.4K $21.21/SF
− OpEx
−$17.3K −$9.54/SF
NOI
$21.1K $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%
$422,680
Cap Rate 7%
$301,914
Cap Rate 9%
$234,822
Alternative Uses
Best Use
Apartment 5plus
$301.9K
$264.2K – $352.2K
NOI $21,134 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$548.9K
$480.3K – $640.4K
NOI $38,421 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,972
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 - A corner residence pairs two en-suite bedrooms with a chef’s kitchen and extensive building amenities.
Where is this residential income property located?
The property is located at 2323 N Central Ave #1401 Phoenix, AZ.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 1,812 square feet on the 14th floor; Corner residence with wraparound balconies accessible from every room; Two en‑suite bedrooms, with space to restore a third bedroom or office
