Ground-Level 1-Bedroom
For Sale
$250,000
3242 E Camelback Road #207, Phoenix, AZ 85018
Ground-level 1-bedroom, 1-bath condo in solid block construction with a covered carport and HOA-managed utilities.
Property Size869 SF
Price / SF$287.69
Days on Market13
Property Features for 3242 E Camelback Road #207
General Information
Standard status
Active
Size
869 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Amenities
resort-style pool
Building Details
Year Built
1960
Construction
mid-century modern
Listing Agency:
Keller Williams Realty Phoenix
(480) 442-1442
Listed By:
Carlie Tomaszewski
(480) 442-1442
Source:
Sunhaven-realestate
Added: Jul 21
Changed: Jul 22
Last Checked: Aug 1 at 12:43PM
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 Keller Williams Realty Phoenix
Investment Insights
Based on property information with market context.
Situated in the Martinique community, this ground-level 1-bedroom, 1-bath condo is built with solid block construction and offers comfortable single-level living. The home includes a covered carport and is set within landscaped grounds featuring a resort-style pool, with views of Piestewa Peak from the pool area.
Located near the Arcadia/Biltmore corridor, the property provides convenient access to Biltmore, Old Town Scottsdale, Sky Harbor Airport, dining, shopping, hiking, and freeway connections.
The HOA covers heat, A/C, water, sewer, and trash, with only a small SRP bill remaining. The community also lists no restrictions on short- or long-term rentals, supporting flexibility for homeowners, seasonal residents, or investors.
Located near the Arcadia/Biltmore corridor, the property provides convenient access to Biltmore, Old Town Scottsdale, Sky Harbor Airport, dining, shopping, hiking, and freeway connections.
The HOA covers heat, A/C, water, sewer, and trash, with only a small SRP bill remaining. The community also lists no restrictions on short- or long-term rentals, supporting flexibility for homeowners, seasonal residents, or investors.
Key Highlights
- 1960‑built ground‑level 1‑bedroom, 1‑bath condo with 869 SF of living space
- Solid block construction and a covered carport
- HOA covers heat, A/C, water, sewer, and trash
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $19.6k | $22.56 |
| − Vacancy | −$1.2k | −$1.35 |
| EGI | $18.4k | $21.21 |
| − OpEx | −$8.3k | −$9.54 |
| NOI | $10.1k | $11.66 |
869 SF · lease $22.56/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$144.8K
$126.7K – $168.9K
NOI $10,136 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$263.2K
$230.3K – $307.1K
NOI $18,426 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
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
Market
Properties on Market for Residential income properties in Phoenix
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Ground-level 1-bedroom, 1-bath condo in solid block construction with a covered carport and HOA-managed utilities.
Where is this residential income property located?
The property is located at 3242 E Camelback Road #207 Phoenix, AZ.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1960‑built ground‑level 1‑bedroom, 1‑bath condo with 869 SF of living space; Solid block construction and a covered carport; HOA covers heat, A/C, water, sewer, and trash
