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    322 N 11TH Place Phoenix, AZ 85006

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    Claim this Listing
    For Sale
    $780,000

    MULTI_FAMILY - Phoenix, AZ

    Added:
    Jan 16, 2026
    Days on Market:
    108
    Last Refresh:
    May 4 at 12:06 am

    Property Features for 322 N 11TH Place

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R-5
    Parking features
    On Street
    Security features
    Security Alarm
    Appliances
    Free-Standing Range, Dishwasher, Refrigerator, Microwave, Washer/Dryer
    Standard status
    Active
    APN
    116-26-012

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    LOT 9 MARSTON HEIGHTS MCR
    Tax Annual Amount
    2236

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Electric

    Building Details

    Year built
    1928
    Number of units
    4
    Flooring type
    Tile - Ceramic
    Building materials
    Wood Frame, Stucco
    Roof type
    Composition

    We can help!

    Listing Contact
    Natalia Yalin
    Natalia Yalin

    Listing agent Natalia Yalin License #SA695323000

    Listing office My Home Group Real Estate 2425 S Stearman Dr Suite 211, Scottsdale, AZ

    Listing date Jan 16, 2026

    MLS# 6969679 Listing URL

    Copyright © 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Renovated Phoenix Multifamily Short-Term Rental

    This comprehensively renovated 4-unit multifamily property is located in Phoenix, Arizona, and is zoned R-5. The property is currently operating as a short-term rental with a cap rate of 10.6%. The average occupancy rate for 2025 is 65%, and the Airbnb rating is 4.85 out of 5. Future bookings totaling over $16,500 through August 1, 2026, are confirmed, and established hosting accounts on main short-term rental platforms are included. The property consists of one 2-bedroom, 1-bathroom unit and three studio units. Each unit has its own kitchen, bathroom, and separate private access. The 2-bedroom unit has its own laundry with a washer and dryer. The backyard is a common space for all guests and includes a grill, fire pit, and hammock. There is also a separate laundry shed and an outside shed for cleaning and maintenance supplies. Each unit is uniquely renovated and staged, designed to appeal to a broad range of tenants. The property is located in a high-demand area of Downtown Phoenix, minutes from Chase Field, the Convention Center, ASU Downtown, Roosevelt Row, and Van Buren. The property is intended to maximize occupancy and income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Spa & Massage Center Dental Office Hair Salon Restaurant Nail Salon Building Supply Daycare Center Accounting Firm Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.058104
    Latitude
    33.45217

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    FAQs

    What type of property is this?
    Quadplex - Comprehensively renovated 4-unit short-term rental in prime Phoenix location.
    Where is this quadplex located?
    The property is located at 322 N 11TH Place Phoenix, AZ.
    What is the asking price?
    The asking price for this property is $780,000.
    What are key features of this property?
    This property features: High 10.6% Cap Rate; Prime Phoenix location with R‑5 zoning suitable for short‑term rentals; Established short‑term rental business with existing hosting accounts
    (858) 729-4377
    We can help!
    Listing Contact
    Natalia Yalin
    Natalia Yalin
    Real Estate License ID: SA695323000
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    322 N 11TH Place, Phoenix, AZ 85006

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