Arcadia Multifamily Investment
For Sale
Contact for pricing
2620 N 40th St, Phoenix, AZ 85008
43-unit multifamily property in Phoenix's Arcadia neighborhood.
Property Size45,350 SF
Price / SF$270.06
Days on Market218
Property Features for 2620 N 40th St
General Information
Standard status
Active
Size
45,350 SF
Class
B
Property subtype
Multifamily
Zoning
PAD - 15
Occupancy
100%
Investment Type
Core
Net Operating Income
$704,197
Building Details
Year Built
1951
Year Renovated
2018
Buildings
4
Stories
1
Units
43
Listing Agency:
CBRE - Phoenix
Listed By:
Brian Tranetzki · License #BR581404000
(602) 435-3636
Source:
Crexi
Added: Mar 2
Changed: Oct 2
Last Checked: Oct 5 at 5:01PM
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 CBRE - Phoenix
Investment Insights
Based on property information with market context.
This multifamily property, known as Clubhouse at Arcadia, is located in the central Phoenix neighborhood of Arcadia. The property comprises 43 units. The building has a property size of 45350 square feet. This property is intended for use as an apartment building or residential income property.
Key Highlights
- Located in the desirable Arcadia neighborhood of central Phoenix.
- Part of the Clubhouse at Arcadia community.
- Features a community of 43 units.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$475,753
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,515,060
$9.5M
Cap Rate 7%
$6,796,471
$6.8M
Cap Rate 9%
$5,286,144
$5.3M
Market Conditions
NOI Build-Up for 45,350 SF
Gross rent
$925.1K $20.40/SF
− Vacancy
−$60.1K −$1.33/SF
EGI
$865.0K $19.07/SF
− OpEx
−$389.3K −$8.58/SF
NOI
$475.8K $10.49/SF
Area
ZIP 85008
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,515,060
Cap Rate 7%
$6,796,471
Cap Rate 9%
$5,286,144
Alternative Uses
Best Use
Apartment 5plus
$6.80M
$5.95M – $7.93M
NOI $475,753 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$14.02M
$12.26M – $16.35M
NOI $981,058 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,313
Businesses Nearby
Explore this area
Business Placement
Demographics for 85008, AZ
59,047
Population
24,508
Households
2.4
Avg Household Size
30
Median Age
24%
College-Educated
75%
High-School Grad
10.2 sq mi
ZIP Area
5,789
Density / Sq Mi
$61,369
Median Household Income
$36,969
Median Earnings
$1,300
Median Rent
$323,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - 43-unit multifamily property in Phoenix's Arcadia neighborhood.
Where is this apartment building located?
The property is located at 2620 N 40th St Phoenix, AZ.
What is the asking price?
The asking price for this property is $12,247,000.
What are key features of this property?
This property features: Located in the desirable Arcadia neighborhood of central Phoenix.; Part of the Clubhouse at Arcadia community.; Features a community of 43 units.
