Tenant-Occupied Income
For Sale
$214,900
4554 E PARADISE VILLAGE Parkway N 263, Phoenix, AZ 85032
Lease remains in place through August 2028, supporting continued occupancy for an income property owner.
Property Size685 SF
Days on Market60
Property Features for 4554 E PARADISE VILLAGE Parkway N 263
General Information
Standard status
Active
Size
685 SF
Property subtype
Apartment
Occupancy
100%
Site & Location
Neighborhood
Paradise Valley
Highway Access
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$740
Building Details
Building Size
685 SF
Year Built
1980
Tenancy
Single
Listing Agency:
Real Broker
Listed By:
Temple Blackburn · License #SA109435000
(602) 410-1313
Source:
Alexiabertsatos
Added: Sep 5
Changed: Nov 2
Last Checked: Nov 1 at 2:38PM
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 Real Broker
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Investment Insights
Based on property information with market context.
This condominium, built in 1980, is configured for residential income ownership and currently has a tenant in place. The residence has vinyl plank flooring throughout with no carpet, along with a covered patio positioned on the east side of the property. These features support a straightforward, low-maintenance residential setup.
The property is located at 4554 E Paradise Village Parkway N in Phoenix and offers access to nearby amenities associated with the Paradise Valley renovation. Freeway access is also available. The existing tenant has occupied the home for more than 2 years and holds a lease through August 2028, with the possibility of remaining beyond the current term or relocating if the property is purchased for personal use.
The property is located at 4554 E Paradise Village Parkway N in Phoenix and offers access to nearby amenities associated with the Paradise Valley renovation. Freeway access is also available. The existing tenant has occupied the home for more than 2 years and holds a lease through August 2028, with the possibility of remaining beyond the current term or relocating if the property is purchased for personal use.
Key Highlights
- Tenant has occupied the condo for more than 2 years
- Lease in place until August 2028
- Vinyl plank flooring throughout with no carpet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,952
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$139,040
$139.0K
Cap Rate 7%
$99,314
$99.3K
Cap Rate 9%
$77,244
$77.2K
Market Conditions
NOI Build-Up for 685 SF
Gross rent
$13.6K $19.80/SF
− Vacancy
−$922 −$1.35/SF
EGI
$12.6K $18.45/SF
− OpEx
−$5.7K −$8.30/SF
NOI
$7.0K $10.15/SF
Area
ZIP 85032
Vacancy
6.80%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$139,040
Cap Rate 7%
$99,314
Cap Rate 9%
$77,244
Alternative Uses
Best Use
Apartment 5plus
$99.3K
$86.9K – $115.9K
NOI $6,952 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$207.1K
$181.2K – $241.6K
NOI $14,494 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,379
Businesses Nearby
Explore this area
Business Placement
Demographics for 85032, AZ
68,710
Population
30,386
Households
2.3
Avg Household Size
38
Median Age
34%
College-Educated
89%
High-School Grad
12.4 sq mi
ZIP Area
5,541
Density / Sq Mi
$74,331
Median Household Income
$44,790
Median Earnings
$1,492
Median Rent
$387,900
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - Lease remains in place through August 2028, supporting continued occupancy for an income property owner.
Where is this residential income property located?
The property is located at 4554 E PARADISE VILLAGE Parkway N 263 Phoenix, AZ.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: Tenant has occupied the condo for more than 2 years; Lease in place until August 2028; Vinyl plank flooring throughout with no carpet
