Ground-Level Residential Income
New
For Sale
$142,900
3119 W Cochise #138, Phoenix, AZ 85051
The living room and bedroom each open to an enclosed patio, with appliances included.
Property Size760 SF
Price / SF$188.03
Days on Market2
Property Features for 3119 W Cochise #138
General Information
Standard status
Active
Size
760 SF
Property subtype
Apartment
Site & Location
Neighborhood
Vista del Cerro
Highway Access
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,025
Amenities
Full Bth Master Bdrm
Building Details
Building Size
760 SF
Year Built
1984
Stories
1
Listing Agency:
Realty ONE Group
(602) 953-4000
Listed By:
Marco Da Silva
(602) 690-5185
Source:
Jlberrycompany
Added: Nov 1
Last Checked: Nov 1 at 3:49PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 760-square-foot residential income unit is on the ground level and was built in 1984. The living room and bedroom each provide access to an enclosed patio, and appliances are included. Mature trees stand at the front of the unit.
The property is near a shopping center and has access to freeways.
The property is near a shopping center and has access to freeways.
Key Highlights
- 760‑square‑foot ground‑level unit
- Enclosed patio accessible from the living room and bedroom
- Appliances included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,864
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$177,280
$177.3K
Cap Rate 7%
$126,629
$126.6K
Cap Rate 9%
$98,489
$98.5K
Market Conditions
NOI Build-Up for 760 SF
Gross rent
$17.1K $22.56/SF
− Vacancy
−$1.0K −$1.35/SF
EGI
$16.1K $21.21/SF
− OpEx
−$7.3K −$9.54/SF
NOI
$8.9K $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%
$177,280
Cap Rate 7%
$126,629
Cap Rate 9%
$98,489
Alternative Uses
Best Use
Apartment 5plus
$126.6K
$110.8K – $147.7K
NOI $8,864 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$230.2K
$201.4K – $268.6K
NOI $16,115 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,040
Businesses Nearby
Explore this area
Business Placement
Demographics for 85051, AZ
46,123
Population
16,818
Households
2.7
Avg Household Size
34
Median Age
20%
College-Educated
81%
High-School Grad
6.4 sq mi
ZIP Area
7,207
Density / Sq Mi
$63,665
Median Household Income
$38,980
Median Earnings
$1,256
Median Rent
$288,300
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - The living room and bedroom each open to an enclosed patio, with appliances included.
Where is this residential income property located?
The property is located at 3119 W Cochise #138 Phoenix, AZ.
What is the asking price?
The asking price for this property is $142,900.
What are key features of this property?
This property features: 760‑square‑foot ground‑level unit; Enclosed patio accessible from the living room and bedroom; Appliances included
