12-Unit Apartment
For Sale
Contact for pricing
2549 E Corona Ave, Phoenix, AZ 85040
The property contains 12 rental units and carries R-3 Multi-Family Residential zoning.
Property Size9,180 SF
Price / SF$324.62
Days on Market105
Property Features for 2549 E Corona Ave
General Information
Standard status
Active
Size
9,180 SF
Total Parking Spaces
24
Property subtype
Multifamily
Zoning
R-3 Multi-Family Residential
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$152,081
Additional Details
Multifamily Units
12
Building Details
Year Built
1963
Year Renovated
2023
Buildings
4
Units
12
Tenancy
Multi
Listing Agency:
Star Max Realty
Listed By:
David Chen · License #02165607
Source:
Crexi
Added: Jul 5
Changed: Oct 11
Last Checked: Oct 16 at 8:55AM
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 Star Max Realty
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Investment Insights
Based on property information with market context.
This apartment property at 2549 E Corona Ave comprises 12 rental units within an 9,180-square-foot building constructed in 1963. The asset is designated R-3 Multi-Family Residential, providing a multifamily zoning classification for the property.
The property is in Phoenix’s airport economic area, placing the apartment building within that defined commercial and employment context. Its address is 2549 E Corona Ave, Phoenix, AZ 85040.
The property is in Phoenix’s airport economic area, placing the apartment building within that defined commercial and employment context. Its address is 2549 E Corona Ave, Phoenix, AZ 85040.
Key Highlights
- 12 rental units
- 9,180‑square‑foot apartment building
- R‑3 Multi‑Family Residential zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$107,071
Cap Rate
3.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,141,420
$2.1M
Cap Rate 7%
$1,529,586
$1.5M
Cap Rate 9%
$1,189,678
$1.2M
Market Conditions
NOI Build-Up for 9,180 SF
Gross rent
$207.1K $22.56/SF
− Vacancy
−$12.4K −$1.35/SF
EGI
$194.7K $21.21/SF
− OpEx
−$87.6K −$9.54/SF
NOI
$107.1K $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%
$2,141,420
Cap Rate 7%
$1,529,586
Cap Rate 9%
$1,189,678
Alternative Uses
Best Use
Apartment 5plus
$1.53M
$1.34M – $1.78M
NOI $107,071 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.78M
$2.43M – $3.24M
NOI $194,649 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
511
Businesses Nearby
Explore this area
Business Placement
Demographics for 85040, AZ
33,993
Population
11,962
Households
2.8
Avg Household Size
30
Median Age
15%
College-Educated
69%
High-School Grad
10.1 sq mi
ZIP Area
3,366
Density / Sq Mi
$57,890
Median Household Income
$36,355
Median Earnings
$1,193
Median Rent
$294,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The property contains 12 rental units and carries R-3 Multi-Family Residential zoning.
Where is this apartment building located?
The property is located at 2549 E Corona Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $2,980,000.
What are key features of this property?
This property features: 12 rental units; 9,180‑square‑foot apartment building; R‑3 Multi‑Family Residential zoning
