Residential Income Property with
For Sale
$295,000
3242 E Camelback Rd #204, Phoenix, AZ 85018
Phoenix condo features two covered balconies, oversized windows, and HOA-provided HVAC and water service.
Property Size869 SF
Price / SF$339.47
Days on Market81
Property Features for 3242 E Camelback Rd #204
General Information
Standard status
Active
Size
869 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Camelback East
Additional Details
Multifamily Units
1
Building Details
Year Built
1960
Listing Agency:
Compass
(480) 776-1555
Listed By:
Arizona Network Realty
(602) 737-2552
Source:
Arizonarealestate
Added: Aug 14
Changed: Oct 31
Last Checked: Nov 1 at 5:56AM
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 Compass
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Investment Insights
Based on property information with market context.
This 869-square-foot condominium was built in 1960 and has been recently renovated with finished interiors, plantation shutters, oversized windows, and abundant natural light. Two private covered balconies extend the living space outdoors, with views of greenery and mountains.
The property is located along E Camelback Rd in Phoenix’s Camelback Corridor, near Biltmore and Arcadia. Biltmore Fashion Park, The Global Ambassador, restaurants, shopping, golf, and other Valley destinations are within minutes. HOA service includes HVAC and water, adding a defined utility component to the property’s operating structure.
The property is located along E Camelback Rd in Phoenix’s Camelback Corridor, near Biltmore and Arcadia. Biltmore Fashion Park, The Global Ambassador, restaurants, shopping, golf, and other Valley destinations are within minutes. HOA service includes HVAC and water, adding a defined utility component to the property’s operating structure.
Key Highlights
- 869‑square‑foot condominium renovated with finished interiors
- Two private covered balconies with greenery and mountain views
- Plantation shutters and oversized windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,136
Cap Rate
3.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$202,720
$202.7K
Cap Rate 7%
$144,800
$144.8K
Cap Rate 9%
$112,622
$112.6K
Market Conditions
NOI Build-Up for 869 SF
Gross rent
$19.6K $22.56/SF
− Vacancy
−$1.2K −$1.35/SF
EGI
$18.4K $21.21/SF
− OpEx
−$8.3K −$9.54/SF
NOI
$10.1K $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%
$202,720
Cap Rate 7%
$144,800
Cap Rate 9%
$112,622
Alternative Uses
Best Use
Apartment 5plus
$144.8K
$126.7K – $168.9K
NOI $10,136 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$263.2K
$230.3K – $307.1K
NOI $18,426 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,686
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
Frequently Asked Questions
What type of property is this?
Residential income property - Phoenix condo features two covered balconies, oversized windows, and HOA-provided HVAC and water service.
Where is this residential income property located?
The property is located at 3242 E Camelback Rd #204 Phoenix, AZ.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 869‑square‑foot condominium renovated with finished interiors; Two private covered balconies with greenery and mountain views; Plantation shutters and oversized windows
