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 Market11
Property Features for 4554 E Paradise Village Parkway N #263
General Information
Standard status
Active
Size
685 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
covered patio
Building Details
Year Built
1980
Tenancy
Single
Listing Agency:
My Home Group Real Estate
(480) 685-2760
Listed By:
Tucker and Oleg
(602) 688-2836
Source:
Kennethjamesrealty
Added: Sep 7
Changed: Sep 15
Last Checked: Sep 16 at 5:44PM
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 My Home Group Real Estate
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 = 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
$6,952
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
3.23%
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%
$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
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
$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 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%
$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.
Property Analytics
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Current Use
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
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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
