Apartment Unit with Covered
New
For Sale
$279,900
3235 E Camelback Road #124, Phoenix, AZ 85018
The bedroom opens directly to a covered outdoor area with attached storage.
Property Size838 SF
Price / SF$334.01
Days on Market4
Property Features for 3235 E Camelback Road #124
General Information
Standard status
Active
Size
838 SF
Property subtype
Apartment
Site & Location
Neighborhood
Camelback East
Taxes and HOA fees
Annual Taxes
$1,772
Amenities
pool
spa
Eat-in Kitchen
Breakfast Bar
Granite Counters
High Speed Internet
9+ Flat Ceilings
Storage
Building Details
Building Size
838 SF
Year Built
1989
Stories
2
Listing Agency:
My Home Group Real Estate
(480) 685-2760
Listed By:
Dillon A Martin · License #SA661402000
(480) 498-8000
Source:
Azhomeseekers
Added: Oct 22
Last Checked: Oct 23 at 9:33PM
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 My Home Group Real Estate
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Investment Insights
Based on property information with market context.
This 838-square-foot apartment in Camelback Fountains was built in 1989. The interior includes a living room with high ceilings and a stone fireplace, a kitchen with granite counters and stainless steel appliances, and a bedroom with a walk-in closet. The bedroom also provides direct access to a covered patio with attached storage.
Interior electrical components, including the breaker box, outlets, dimmers, ceiling fans, and light fixtures, have been replaced. The unit also has a high-capacity water heater and custom steel security screens at the rear window and patio doors. Air conditioning is maintained by the HOA. Community amenities include a pool and spa.
Interior electrical components, including the breaker box, outlets, dimmers, ceiling fans, and light fixtures, have been replaced. The unit also has a high-capacity water heater and custom steel security screens at the rear window and patio doors. Air conditioning is maintained by the HOA. Community amenities include a pool and spa.
Key Highlights
- 838‑square‑foot apartment in Camelback Fountains
- Built in 1989
- Covered patio with attached storage and direct bedroom access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,774
Cap Rate
3.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$195,480
$195.5K
Cap Rate 7%
$139,629
$139.6K
Cap Rate 9%
$108,600
$108.6K
Market Conditions
NOI Build-Up for 838 SF
Gross rent
$18.9K $22.56/SF
− Vacancy
−$1.1K −$1.35/SF
EGI
$17.8K $21.21/SF
− OpEx
−$8.0K −$9.54/SF
NOI
$9.8K $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%
$195,480
Cap Rate 7%
$139,629
Cap Rate 9%
$108,600
Alternative Uses
Best Use
Apartment 5plus
$139.6K
$122.2K – $162.9K
NOI $9,774 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$253.8K
$222.1K – $296.2K
NOI $17,769 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,863
Businesses Nearby
Explore this area
Business Placement
Demographics for 85018, AZ
37,944
Population
19,487
Households
1.9
Avg Household Size
40
Median Age
57%
College-Educated
92%
High-School Grad
15.1 sq mi
ZIP Area
2,513
Density / Sq Mi
$87,637
Median Household Income
$58,555
Median Earnings
$1,411
Median Rent
$805,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The bedroom opens directly to a covered outdoor area with attached storage.
Where is this residential income property located?
The property is located at 3235 E Camelback Road #124 Phoenix, AZ.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 838‑square‑foot apartment in Camelback Fountains; Built in 1989; Covered patio with attached storage and direct bedroom access
