High-Rise Residence with Valley
New
For Sale
$717,000
2323 N CENTRAL Avenue 2001, Phoenix, AZ 85004
A two-bedroom home pairs elevated ceilings and broad window walls with private balconies and building amenities.
Property Size1,812 SF
Days on Market7
Property Features for 2323 N CENTRAL Avenue 2001
General Information
Standard status
Active
Size
1,812 SF
Total Parking Spaces
1
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,977
Amenities
pool & spa
cabanas
BBQs
lounge areas
dog parks
concierge service
fitness facility
clubhouse
indoor laundry room
balcony
Building Details
Building Size
1,812 SF
Year Built
1964
Listing Agency:
HomeSmart
Listed By:
Kim Panozzo · License #SA538315000
(480) 307-8326
Source:
Alexiabertsatos
Added: Oct 1
Changed: Oct 3
Last Checked: Oct 5 at 9:14PM
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 HomeSmart
Investment Insights
Based on property information with market context.
Set on the 20th floor of Regency House, this two-bedroom, two-bath residence has raised ceilings completed in 2024, Brazilian wood flooring installed in 2024, and wall-to-wall windows. The open living and dining areas connect to a kitchen with an electric cooktop, cabinet-front refrigerator, and separate dining area that opens to a second balcony. The primary suite offers dual closets, balcony access, and an ensuite with a jetted tub and shower; the second bedroom has a walk-in closet, built-in desk space, and its own ensuite. An indoor laundry room, underground garage space, and storage area complete the residence.
Views extend across Phoenix, including Downtown Phoenix and nearby and distant mountains. Community amenities include a pool and spa, cabanas, BBQs, lounge areas, dog parks, concierge service, a fitness facility, and a clubhouse. Light rail is across the street, with museums, sports and entertainment venues, shopping, dining, and recreation nearby.
Views extend across Phoenix, including Downtown Phoenix and nearby and distant mountains. Community amenities include a pool and spa, cabanas, BBQs, lounge areas, dog parks, concierge service, a fitness facility, and a clubhouse. Light rail is across the street, with museums, sports and entertainment venues, shopping, dining, and recreation nearby.
Key Highlights
- 20th‑floor residence with views across Phoenix and toward nearby and distant mountains
- Two bedrooms and two baths, with ensuite bathrooms for both bedrooms
- Raised ceilings and Brazilian wood flooring completed in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,134
Cap Rate
2.95%
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 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$548.9K
$480.3K – $640.4K
NOI $38,421 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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 two-bedroom home pairs elevated ceilings and broad window walls with private balconies and building amenities.
Where is this residential income property located?
The property is located at 2323 N CENTRAL Avenue 2001 Phoenix, AZ.
What is the asking price?
The asking price for this property is $717,000.
What are key features of this property?
This property features: 20th‑floor residence with views across Phoenix and toward nearby and distant mountains; Two bedrooms and two baths, with ensuite bathrooms for both bedrooms; Raised ceilings and Brazilian wood flooring completed in 2024
