Four-Unit Property with On-Site
For Sale
$840,000
Pending
3313 N 66TH Street, Scottsdale, AZ 85251
MULTI_FAMILY - Scottsdale, AZ
Property Size3,000 SF
Lot Size8,000.00 Acres
Days on Market121
Property Features for 3313 N 66TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-5
Parking features
On Street
Appliances
Refrigerator, Built-In Electric Oven, Microwave
Subdivision
HOLIDAY PARK
Elementary school district
Scottsdale Unified District
Middle school district
Scottsdale Unified District
High school district
Scottsdale Unified District
Standard status
Pending
APN
130-47-143
Lot size
8,000.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 66 HOLIDAY PARK MCR 007614
Tax Annual Amount
404
Legal Description
LOT 66 HOLIDAY PARK MCR 007614
Utilities
Sewer type
Public Sewer
Amenities
Covered Parking
On-Site Laundry
Building Details
Year built
1958
Number of units
4
Building materials
Painted, Block
Roof type
Composition
Listing Agency:
HomeSmart
(602) 230-7600
Listed By:
Cody Stein · License #SA713525000
(224) 769-0880
Added: Apr 14
Changed: Aug 9
Last Checked: Aug 12 at 1:06AM
MLS# 7014561
Copyright © 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit residential income property was built in 1958 and contains approximately 3,000 SF of building area on an 8,000 SF individually parceled lot. The block-constructed property includes on-site laundry, refrigerators, built-in electric ovens, and microwaves. The roof is composition, and the property is served by public sewer.
The property is located at 3313 N 66th Street in Scottsdale, directly across from Paiute Park. Its R-5 zoning supports the existing multifamily configuration. The available information does not establish the exact unit mix, so prospective buyers should verify the configuration and other property details during due diligence.
The property is located at 3313 N 66th Street in Scottsdale, directly across from Paiute Park. Its R-5 zoning supports the existing multifamily configuration. The available information does not establish the exact unit mix, so prospective buyers should verify the configuration and other property details during due diligence.
Key Highlights
- Four‑unit property on an 8,000 SF individually parceled lot
- Approximately 3,000 SF of building area
- R‑5 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,709
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$794,180
$794.2K
Cap Rate 7%
$567,271
$567.3K
Cap Rate 9%
$441,211
$441.2K
Market Conditions
NOI Build-Up for 3,000 SF
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.
Gross rent
$59.4K $19.80/SF
− Vacancy
−$2.7K −$0.89/SF
EGI
$56.7K $18.91/SF
− OpEx
−$17.0K −$5.67/SF
NOI
$39.7K $13.24/SF
Area
Scottsdale, AZ
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$794,180
Cap Rate 7%
$567,271
Cap Rate 9%
$441,211
Alternative Uses
Best Use
Multifamily LT 5
$567.3K
$496.4K – $661.8K
NOI $39,709 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$495.9K
$433.9K – $578.5K
NOI $34,712 @ 7.0% cap · market cap 4.13%
Theoretical Best
Retail
$984.8K
$861.7K – $1.15M
NOI $68,937 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,217
Businesses Nearby
Explore this area
Business Placement
Demographics for 85251, AZ
40,073
Population
26,456
Households
1.5
Avg Household Size
39
Median Age
60%
College-Educated
96%
High-School Grad
7.2 sq mi
ZIP Area
5,566
Density / Sq Mi
$89,151
Median Household Income
$60,282
Median Earnings
$1,771
Median Rent
$500,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - R-5-zoned residential income property with four units, on-site laundry, and proximity to Paiute Park.
Where is this quadplex located?
The property is located at 3313 N 66TH Street Scottsdale, AZ.
What is the asking price?
The asking price for this property is $840,000.
What are key features of this property?
This property features: Four‑unit property on an 8,000 SF individually parceled lot; Approximately 3,000 SF of building area; R‑5 zoning
