2-Bedroom
For Sale
$285,000
3302 N 7TH Street #224, Phoenix, AZ 85014
Gated community amenities include a pool, fitness center, and clubhouse.
Property Size1,217 SF
Price / SF$234.18
Days on Market18
Property Features for 3302 N 7TH Street #224
General Information
Standard status
Active
Size
1,217 SF
Property subtype
Apartment
Site & Location
Neighborhood
Encanto
Additional Details
Multifamily Units
1
Amenities
pool
fitness center
clubhouse
gated community
Building Details
Year Built
1999
Listing Agency:
Berkshire Hathaway Homeservices Arizona Properties
Listed By:
Kathryn Thomas
(480) 505-6300
Source:
Kathrynthomas
Added: Oct 16
Changed: Nov 1
Last Checked: Nov 1 at 1:21AM
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 Berkshire Hathaway Homeservices Arizona Properties
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Investment Insights
Based on property information with market context.
This 1,217-square-foot condominium has two bedrooms, two bathrooms, and high ceilings. Interior features include quartz countertops, stainless steel appliances, and a full-size washer and dryer. The property also has a newer HVAC system and water heater, plus a private one-car garage and additional covered parking.
Built in 1999, the unit is part of the gated Brick Commons community in Phoenix. Shared amenities include a pool, fitness center, and clubhouse. The location provides access to dining, shopping, and entertainment, as well as the Biltmore, Uptown, and Midtown areas.
Built in 1999, the unit is part of the gated Brick Commons community in Phoenix. Shared amenities include a pool, fitness center, and clubhouse. The location provides access to dining, shopping, and entertainment, as well as the Biltmore, Uptown, and Midtown areas.
Key Highlights
- 1,217‑square‑foot condominium with 2 bedrooms and 2 bathrooms
- Private 1‑car garage plus additional covered parking
- Quartz countertops and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,195
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$283,900
$283.9K
Cap Rate 7%
$202,786
$202.8K
Cap Rate 9%
$157,722
$157.7K
Market Conditions
NOI Build-Up for 1,217 SF
Gross rent
$27.5K $22.56/SF
− Vacancy
−$1.6K −$1.35/SF
EGI
$25.8K $21.21/SF
− OpEx
−$11.6K −$9.54/SF
NOI
$14.2K $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%
$283,900
Cap Rate 7%
$202,786
Cap Rate 9%
$157,722
Alternative Uses
Best Use
Apartment 5plus
$202.8K
$177.4K – $236.6K
NOI $14,195 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$368.6K
$322.6K – $430.1K
NOI $25,805 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,680
Businesses Nearby
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Business Placement
Demographics for 85014, AZ
26,381
Population
14,778
Households
1.8
Avg Household Size
37
Median Age
43%
College-Educated
90%
High-School Grad
4.0 sq mi
ZIP Area
6,595
Density / Sq Mi
$69,995
Median Household Income
$48,465
Median Earnings
$1,339
Median Rent
$447,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Gated community amenities include a pool, fitness center, and clubhouse.
Where is this residential income property located?
The property is located at 3302 N 7TH Street #224 Phoenix, AZ.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 1,217‑square‑foot condominium with 2 bedrooms and 2 bathrooms; Private 1‑car garage plus additional covered parking; Quartz countertops and stainless steel appliances
