South-Facing Residential Income
For Sale
$159,000
4750 N CENTRAL Avenue 11G, Phoenix, AZ 85012
Owner-occupancy residence with updated interiors, building amenities, and expansive city views.
Property Size702 SF
Days on Market16
Property Features for 4750 N CENTRAL Avenue 11G
General Information
Standard status
Active
Size
702 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$804
Building Details
Building Size
702 SF
Year Built
1963
Listing Agency:
HomeSmart
Listed By:
Deborah A Young · License #117984
(602) 689-4913
Source:
Alexiabertsatos
Added: Sep 17
Changed: Sep 24
Last Checked: Oct 1 at 4:56PM
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 HomeSmart
Investment Insights
Based on property information with market context.
This south-facing residential unit at Landmark Towers combines recent interior upgrades with a broad set of shared amenities. The kitchen has custom cabinetry and new appliances, while newer luxury vinyl flooring updates the living areas. A ventilation system exhausts outside the building and supports air circulation throughout the residence. Furnishings are included in the sale.
Landmark Towers provides a heated pool, workout room, residential center, library, theater room, skydeck, and 24-hour concierge service. The property was built in 1963 and offers city views from the unit. Occupancy is limited to owners, with rentals not permitted, making the residence suited to personal use or a vacation-home arrangement.
Landmark Towers provides a heated pool, workout room, residential center, library, theater room, skydeck, and 24-hour concierge service. The property was built in 1963 and offers city views from the unit. Occupancy is limited to owners, with rentals not permitted, making the residence suited to personal use or a vacation-home arrangement.
Key Highlights
- South‑facing unit with city views
- Custom kitchen cabinetry and new appliances
- Newer luxury vinyl flooring
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
$8,188
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
5.15%
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%
$163,760
$163.8K
Cap Rate 7%
$116,971
$117.0K
Cap Rate 9%
$90,978
$91.0K
Market Conditions
NOI Build-Up for 702 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
$15.8K $22.56/SF
− Vacancy
−$950 −$1.35/SF
EGI
$14.9K $21.21/SF
− OpEx
−$6.7K −$9.54/SF
NOI
$8.2K $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 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%
$163,760
Cap Rate 7%
$116,971
Cap Rate 9%
$90,978
Alternative Uses
Best Use
Apartment 5plus
$117.0K
$102.4K – $136.5K
NOI $8,188 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$212.6K
$186.1K – $248.1K
NOI $14,885 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,001
Businesses Nearby
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Business Placement
Demographics for 85012, AZ
8,201
Population
5,269
Households
1.6
Avg Household Size
39
Median Age
60%
College-Educated
95%
High-School Grad
2.3 sq mi
ZIP Area
3,566
Density / Sq Mi
$80,242
Median Household Income
$57,228
Median Earnings
$1,693
Median Rent
$701,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Owner-occupancy residence with updated interiors, building amenities, and expansive city views.
Where is this residential income property located?
The property is located at 4750 N CENTRAL Avenue 11G Phoenix, AZ.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: South‑facing unit with city views; Custom kitchen cabinetry and new appliances; Newer luxury vinyl flooring
