Residential Income Property with
For Sale
$315,000
Pending
4644 N 22ND Street 2152, Phoenix, AZ 85016
Gated condo community with a loft, private balcony, attached garage, and fitness, pool, spa, and clubhouse amenities.
Property Size1,189 SF
Days on Market54
Property Features for 4644 N 22ND Street 2152
General Information
Standard status
Pending
Size
1,189 SF
Property subtype
Apartment
Site & Location
Neighborhood
Camelback East
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,596
Amenities
gated community
fitness center
pool
spa
clubhouse
private balcony
washer/dryer
Building Details
Building Size
1,189 SF
Year Built
1997
Listing Agency:
West USA Realty
Listed By:
Michael Smith · License #SA510028000
(602) 579-5667
Source:
Alexiabertsatos
Added: Sep 11
Changed: Oct 31
Last Checked: Nov 1 at 2:20PM
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 West USA Realty
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Investment Insights
Based on property information with market context.
This 1997-built condominium at La Terraza combines a loft layout with extensive built-in storage, custom cabinetry, and organized closet space. The kitchen includes quartz countertops and a breakfast bar, while the primary suite features an upgraded bath. A washer and dryer are included, and the private balcony adds outdoor space. The attached garage has additional cabinets for storage.
The gated community offers a fitness center, swimming pool, spa, and clubhouse. The property is located at 4644 N 22ND Street in Phoenix’s Biltmore Corridor, with Starving Artist, Pizza to the Rescue, The Gladly, Blanco at the Biltmore, and Los Olivos Park within walking distance.
The gated community offers a fitness center, swimming pool, spa, and clubhouse. The property is located at 4644 N 22ND Street in Phoenix’s Biltmore Corridor, with Starving Artist, Pizza to the Rescue, The Gladly, Blanco at the Biltmore, and Los Olivos Park within walking distance.
Key Highlights
- Loft provides space for a home gym or office
- Custom closets, cabinetry, pantry, and built‑in storage throughout
- Quartz kitchen counters with breakfast bar; washer and dryer included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,868
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$277,360
$277.4K
Cap Rate 7%
$198,114
$198.1K
Cap Rate 9%
$154,089
$154.1K
Market Conditions
NOI Build-Up for 1,189 SF
Gross rent
$26.8K $22.56/SF
− Vacancy
−$1.6K −$1.35/SF
EGI
$25.2K $21.21/SF
− OpEx
−$11.3K −$9.54/SF
NOI
$13.9K $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%
$277,360
Cap Rate 7%
$198,114
Cap Rate 9%
$154,089
Alternative Uses
Best Use
Apartment 5plus
$198.1K
$173.4K – $231.1K
NOI $13,868 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$360.2K
$315.1K – $420.2K
NOI $25,211 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,497
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 - Gated condo community with a loft, private balcony, attached garage, and fitness, pool, spa, and clubhouse amenities.
Where is this residential income property located?
The property is located at 4644 N 22ND Street 2152 Phoenix, AZ.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Loft provides space for a home gym or office; Custom closets, cabinetry, pantry, and built‑in storage throughout; Quartz kitchen counters with breakfast bar; washer and dryer included
