Tenant-Occupied Income
For Sale
$214,900
4554 E Paradise Village Parkway N #263, Phoenix, AZ 85032
Maintained condominium with durable plank flooring, a covered east-facing patio, and an existing lease extending through August 2028.
Property Size685 SF
Price / SF$313.72
Days on Market57
Property Features for 4554 E Paradise Village Parkway N #263
General Information
Standard status
Active
Size
685 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Paradise Valley
Highway Access
Yes
Additional Details
Multifamily Units
1
Amenities
covered patio
Building Details
Year Built
1980
Tenancy
Single
Listing Agency:
Real Broker
(602) 755-3415
Listed By:
Tucker and Oleg
(602) 688-2836
Source:
Kennethjamesrealty
Added: Sep 7
Changed: Nov 1
Last Checked: Nov 1 at 6:02AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 685-square-foot condominium, built in 1980, offers a low-maintenance ownership format with vinyl plank flooring throughout and no carpet. A covered patio on the east side adds outdoor space suited to year-round use. The property is currently leased to a tenant who has occupied the residence for more than 2 years, with the lease continuing through August 2028. The tenant may remain and potentially renew, or relocate if the buyer intends to use the condo personally.
The residence is within walking distance of amenities associated with the Paradise Valley renovation and provides convenient freeway access. Its lock-and-leave format supports either continued rental operation or personal occupancy, subject to the existing lease and the tenant’s stated flexibility.
The residence is within walking distance of amenities associated with the Paradise Valley renovation and provides convenient freeway access. Its lock-and-leave format supports either continued rental operation or personal occupancy, subject to the existing lease and the tenant’s stated flexibility.
Key Highlights
- 685‑square‑foot condominium built in 1980
- Current tenant has occupied the condo for more than 2 years
- Lease in place through August 2028
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
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - Maintained condominium with durable plank flooring, a covered east-facing patio, and an existing lease extending through August 2028.
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: 685‑square‑foot condominium built in 1980; Current tenant has occupied the condo for more than 2 years; Lease in place through August 2028
