First-Floor Residential Income
For Sale
$310,000
3270 E CAMELBACK Road 114, Phoenix, AZ 85018
Two-bedroom, two-bath condominium with a private patio and access to a community pool.
Property Size1,185 SF
Days on Market67
Property Features for 3270 E CAMELBACK Road 114
General Information
Standard status
Active
Size
1,185 SF
Property subtype
Apartment
Site & Location
Neighborhood
Camelback East
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,298
Amenities
community pool
Building Details
Building Size
1,185 SF
Year Built
1960
Listing Agency:
HomeSmart
Listed By:
John L Schloz
(602) 570-5905
Source:
Jcluxuryresidential
Added: Aug 29
Changed: Oct 31
Last Checked: Nov 1 at 3:30PM
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 HomeSmart
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Investment Insights
Based on property information with market context.
This first-floor condominium at Martinique offers a two-bedroom, two-bath layout with a private patio and views of mature landscaping. The community also includes a pool, adding an outdoor amenity directly on the property. Built in 1960, the residence provides a residential income property configuration suited to full-time occupancy, a lock-and-leave use, or investment ownership.
The property is located at 3270 E CAMELBACK Road 114 in Phoenix, near the 32nd Street and Camelback area. Restaurants, coffee shops, shopping, and everyday conveniences are within walking distance, while hiking and recreation areas are a short drive away. Its Central Phoenix setting combines neighborhood access with on-site outdoor space.
The property is located at 3270 E CAMELBACK Road 114 in Phoenix, near the 32nd Street and Camelback area. Restaurants, coffee shops, shopping, and everyday conveniences are within walking distance, while hiking and recreation areas are a short drive away. Its Central Phoenix setting combines neighborhood access with on-site outdoor space.
Key Highlights
- Two‑bedroom, two‑bath condominium
- First‑floor residence at Martinique
- Private patio with mature landscaping
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,821
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$276,420
$276.4K
Cap Rate 7%
$197,443
$197.4K
Cap Rate 9%
$153,567
$153.6K
Market Conditions
NOI Build-Up for 1,185 SF
Gross rent
$26.7K $22.56/SF
− Vacancy
−$1.6K −$1.35/SF
EGI
$25.1K $21.21/SF
− OpEx
−$11.3K −$9.54/SF
NOI
$13.8K $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%
$276,420
Cap Rate 7%
$197,443
Cap Rate 9%
$153,567
Alternative Uses
Best Use
Apartment 5plus
$197.4K
$172.8K – $230.4K
NOI $13,821 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$358.9K
$314.1K – $418.8K
NOI $25,126 @ 7.0% cap · market cap 8.11%
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 - Two-bedroom, two-bath condominium with a private patio and access to a community pool.
Where is this residential income property located?
The property is located at 3270 E CAMELBACK Road 114 Phoenix, AZ.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium; First‑floor residence at Martinique; Private patio with mature landscaping
