Updated Duplex with Detached
For Sale
Contact for pricing
2524 W CAMPBELL AVE, Phoenix, AZ 85016
Two residential structures include a basement and flexible parking for larger vehicles.
Property Size2,833 SF
Price / SF$172.61
Days on Market116
Property Features for 2524 W CAMPBELL AVE
General Information
Standard status
Active
Size
2,833 SF
Property subtype
Multifamily
Zoning
C-3
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1964
Year Renovated
2021
Buildings
2
Stories
1
Units
1
Tenancy
Multi
Listing Agency:
Realty ONE Group
(888) 461-0101
Listed By:
Brian Dellis · License #AZ SA679853000
Source:
Crexi
Added: May 8
Changed: Aug 30
Last Checked: Aug 30 at 12:30AM
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 Realty ONE Group
Investment Insights
Based on property information with market context.
This 2,833-square-foot duplex property, built in 1964, includes a primary residence, a detached accessory dwelling unit, and a basement. Recent improvements to both residences include HVAC systems, hot water heaters, exterior paint, roofing, and owned solar equipment. The site also provides substantial parking capacity for RVs, work trucks, and trailers.
The property is located near I-17 and Grand Canyon University in Phoenix. The detached unit is occupied by a month-to-month tenant, while the overall configuration supports owner occupancy, rental use, or redevelopment planning as described for the property.
The property is located near I-17 and Grand Canyon University in Phoenix. The detached unit is occupied by a month-to-month tenant, while the overall configuration supports owner occupancy, rental use, or redevelopment planning as described for the property.
Key Highlights
- 2,833 SF duplex property with a primary residence, detached ADU, and basement
- Both residences recently updated with HVAC, hot water heaters, exterior paint, roofs, and owned solar
- Detached ADU currently occupied by a month‑to‑month tenant
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,106
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.59%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$742,120
$742.1K
Cap Rate 7%
$530,086
$530.1K
Cap Rate 9%
$412,289
$412.3K
Market Conditions
NOI Build-Up for 2,833 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$56.1K $19.80/SF
− Vacancy
−$3.1K −$1.09/SF
EGI
$53.0K $18.71/SF
− OpEx
−$15.9K −$5.61/SF
NOI
$37.1K $13.10/SF
Area
Phoenix, AZ
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$742,120
Cap Rate 7%
$530,086
Cap Rate 9%
$412,289
Alternative Uses
Best Use
Multifamily LT 5
$530.1K
$463.8K – $618.4K
NOI $37,106 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$472.0K
$413.0K – $550.7K
NOI $33,043 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$858.1K
$750.9K – $1.00M
NOI $60,070 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,836
Businesses Nearby
Explore this area
Business Placement
Demographics for 85016, AZ
37,326
Population
21,363
Households
1.7
Avg Household Size
38
Median Age
50%
College-Educated
94%
High-School Grad
8.2 sq mi
ZIP Area
4,552
Density / Sq Mi
$85,085
Median Household Income
$53,781
Median Earnings
$1,575
Median Rent
$508,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential structures include a basement and flexible parking for larger vehicles.
Where is this duplex located?
The property is located at 2524 W CAMPBELL AVE Phoenix, AZ.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: 2,833 SF duplex property with a primary residence, detached ADU, and basement; Both residences recently updated with HVAC, hot water heaters, exterior paint, roofs, and owned solar; Detached ADU currently occupied by a month‑to‑month tenant
