High-Rise Residential Income
For Sale
$589,000
2323 N Central Avenue 2106, Phoenix, AZ 85004
An open-plan residence features a private balcony, expansive glazing, and a contemporary kitchen with stainless steel appliances.
Property Size1,456 SF
Price / SF$404.53
Days on Market66
Property Features for 2323 N Central Avenue 2106
General Information
Standard status
Active
Size
1,456 SF
Property subtype
Apartment
Site & Location
Neighborhood
Encanto
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,193
Building Details
Building Size
1,456 SF
Year Built
1964
Listing Agency:
Russ Lyon Sotheby's International Realty
Listed By:
Bill Kuniej
(630) 779-8313
Source:
Neighborsluxury
Added: Aug 28
Changed: Oct 30
Last Checked: Oct 30 at 2:06AM
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
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Investment Insights
Based on property information with market context.
This 1,456-square-foot residence is located in the Regency on Central, a high-rise building completed in 1964. Its open-concept plan includes floor-to-ceiling windows and sliding glass doors that lead to a private balcony. Interior features include a linear electric fireplace, glossy Euro-style kitchen cabinetry, stainless steel appliances, and quartz surfaces.
The property is at 2323 N Central Avenue in Phoenix, near the Heard Museum. Downtown Phoenix provides access to dining, arts, entertainment, and transportation, as described in the property information.
The property is at 2323 N Central Avenue in Phoenix, near the Heard Museum. Downtown Phoenix provides access to dining, arts, entertainment, and transportation, as described in the property information.
Key Highlights
- 1,456 square feet in the Regency on Central high‑rise
- Private balcony accessed through sliding glass doors
- Floor‑to‑ceiling windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,982
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$339,640
$339.6K
Cap Rate 7%
$242,600
$242.6K
Cap Rate 9%
$188,689
$188.7K
Market Conditions
NOI Build-Up for 1,456 SF
Gross rent
$32.8K $22.56/SF
− Vacancy
−$2.0K −$1.35/SF
EGI
$30.9K $21.21/SF
− OpEx
−$13.9K −$9.54/SF
NOI
$17.0K $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%
$339,640
Cap Rate 7%
$242,600
Cap Rate 9%
$188,689
Alternative Uses
Best Use
Apartment 5plus
$242.6K
$212.3K – $283.0K
NOI $16,982 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$441.0K
$385.9K – $514.5K
NOI $30,872 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
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 - An open-plan residence features a private balcony, expansive glazing, and a contemporary kitchen with stainless steel appliances.
Where is this residential income property located?
The property is located at 2323 N Central Avenue 2106 Phoenix, AZ.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: 1,456 square feet in the Regency on Central high‑rise; Private balcony accessed through sliding glass doors; Floor‑to‑ceiling windows
