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4220 N Granada Dr, Eloy, AZ 85131

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For Sale

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Apartment buildings

Type:Multifamily

Property size:

6,864 SF

Price / SF:

$152/SF

HighLights

Residential financing opportunity for 12 units across 3 parcels.
Diverse unit mix: 4 two‑bedroom, 4 one‑bedroom, and 4 studio apartments.
Potential for increased rental income with month‑to‑month leases and market rents exceeding current rates (2BR $850+, 1BR $700+, Studios $550+).
Solid block construction with well‑maintained roof and AC units.
All units feature private back doors, tile flooring in key areas, and full baths with tubs.
On‑site coin laundry provides additional income.

We can help!

Contact an agent

Eric Hegarty

For Sale

Contact for pricing

Apartment buildings

Type:Multifamily

Property size:

6,864 SF

Price / SF:

$152/SF

Added:: Feb 25, 2026
Days on Market:: 122
Last Refresh:: Mar 17 at 1:16 pm

Property Features for 4220 N Granada Dr

General Information

Standard status: Active
Size: 6,864 SF
Property subtype: Multifamily

Building Details

Year Built: 1964

We can help!

Contact an agent

Eric Hegarty

Listing office S.J. Fowler Real Estate, Inc.

Listing date Feb 25, 2026

Source Crexi

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 S.J. Fowler Real Estate, Inc.

HighLights

Residential financing opportunity for 12 units across 3 parcels.
Diverse unit mix: 4 two‑bedroom, 4 one‑bedroom, and 4 studio apartments.
Potential for increased rental income with month‑to‑month leases and market rents exceeding current rates (2BR $850+, 1BR $700+, Studios $550+).
Solid block construction with well‑maintained roof and AC units.
All units feature private back doors, tile flooring in key areas, and full baths with tubs.
On‑site coin laundry provides additional income.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$111.2k	$16.20
− Vacancy	−$13.0k	−$1.90
EGI	$98.2k	$14.30
− OpEx	−$44.2k	−$6.44
NOI	$54.0k	$7.87

6,864 SF · lease $16.20/SF/yr · vacancy 11.70% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$771.5K

$675.0K – $900.1K (±1% cap)

NOI $54,003 @ 7.0% cap · market cap 5.14%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.90M

$1.66M – $2.21M (±1% cap)

NOI $132,834 @ 7.0% cap · market cap 12.65%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Eloy
County: Pinal
State: Arizona
Longitude: -111.6211192
Latitude: 32.7953006

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For sale
Apartment buildings
AZ
Eloy
85131
4220 N Granada Dr

Where is this apartment building located?

The property is located at 4220 N Granada Dr Eloy, AZ.

What is the asking price?

The asking price for this property is $1,050,000.

What are key features of this property?

This property features: Residential financing opportunity for 12 units across 3 parcels.; Diverse unit mix: 4 two‑bedroom, 4 one‑bedroom, and 4 studio apartments.; **Potential for increased rental income** with month‑to‑month leases and market rents exceeding current rates (2BR $850+, 1BR $700+, Studios $550+).