Updated Residential Income
For Sale
$486,000
4525 N 22ND Street 307, Phoenix, AZ 85016
Three-bedroom corner residence with elevator access, private balconies, garage entry, and a remodeled kitchen.
Property Size1,596 SF
Days on Market90
Property Features for 4525 N 22ND Street 307
General Information
Standard status
Active
Size
1,596 SF
Property subtype
Apartment
Site & Location
Neighborhood
Camelback East
Taxes and HOA fees
Annual Taxes
$2,830
Building Details
Building Size
1,596 SF
Year Built
2001
Listing Agency:
The Brokery
Listed By:
Eric Z Horn
(480) 601-2342
Source:
Alexiabertsatos
Added: Aug 6
Changed: Nov 2
Last Checked: Nov 1 at 3:50PM
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 The Brokery
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Investment Insights
Based on property information with market context.
This third-floor corner residence is part of a 24-unit community and offers three bedrooms, two-and-a-half bathrooms, generous living areas, and a gas fireplace. A secure garage entry and elevator provide access to the home, which includes a covered balcony, private balcony off the primary suite, and a Juliet balcony serving the guest suite. The kitchen has been remodeled with granite counters, a redesigned island, stone backsplash, extensive cabinetry, and a true walk-in pantry. A separate laundry room adds practical utility, while the flexible third bedroom is currently configured as an office.
Recent improvements include a new HVAC system installed in 2026, dual-pane exterior glass, interior paint, carpet, lighting, ceiling fans, and refreshed bathroom fixtures. The property is in Phoenix's Biltmore neighborhood, near Biltmore Fashion Park, Whole Foods, dining, shopping, golf, fitness facilities, and Phoenix Sky Harbor International Airport.
Recent improvements include a new HVAC system installed in 2026, dual-pane exterior glass, interior paint, carpet, lighting, ceiling fans, and refreshed bathroom fixtures. The property is in Phoenix's Biltmore neighborhood, near Biltmore Fashion Park, Whole Foods, dining, shopping, golf, fitness facilities, and Phoenix Sky Harbor International Airport.
Key Highlights
- Three‑bedroom, 2.5‑bath third‑floor corner residence
- Located in a 24‑unit community built in 2001
- Remodeled kitchen with granite counters, stone backsplash, island, cabinetry, and walk‑in pantry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,615
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$372,300
$372.3K
Cap Rate 7%
$265,929
$265.9K
Cap Rate 9%
$206,833
$206.8K
Market Conditions
NOI Build-Up for 1,596 SF
Gross rent
$36.0K $22.56/SF
− Vacancy
−$2.2K −$1.35/SF
EGI
$33.8K $21.21/SF
− OpEx
−$15.2K −$9.54/SF
NOI
$18.6K $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%
$372,300
Cap Rate 7%
$265,929
Cap Rate 9%
$206,833
Alternative Uses
Best Use
Apartment 5plus
$265.9K
$232.7K – $310.3K
NOI $18,615 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$483.4K
$423.0K – $564.0K
NOI $33,841 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
4,092
Businesses Nearby
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Business Placement
Demographics for 85016, AZ
37,326
Population
21,363
Households
1.7
Avg Household Size
38
Median Age
50%
College-Educated
94%
High-School Grad
8.2 sq mi
ZIP Area
4,552
Density / Sq Mi
$85,085
Median Household Income
$53,781
Median Earnings
$1,575
Median Rent
$508,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom corner residence with elevator access, private balconies, garage entry, and a remodeled kitchen.
Where is this residential income property located?
The property is located at 4525 N 22ND Street 307 Phoenix, AZ.
What is the asking price?
The asking price for this property is $486,000.
What are key features of this property?
This property features: Three‑bedroom, 2.5‑bath third‑floor corner residence; Located in a 24‑unit community built in 2001; Remodeled kitchen with granite counters, stone backsplash, island, cabinetry, and walk‑in pantry
