Remodeled High-Rise Income
For Sale
$145,000
4750 N CENTRAL Avenue E16, Phoenix, AZ 85012
Updated high-rise residence with skyline outlooks, private balcony, and full-service building amenities.
Property Size602 SF
Days on Market194
Property Features for 4750 N CENTRAL Avenue E16
General Information
Standard status
Active
Size
602 SF
Property subtype
Apartment
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$881
Amenities
24/7 door staff
secure underground parking
heated pool
recently updated common areas
Building Details
Building Size
602 SF
Year Built
1963
Listing Agency:
eXp Realty
Listed By:
John P Galaviz · License #BR673471000
(602) 902-1490
Source:
Alexiabertsatos
Added: Mar 9
Changed: Sep 15
Last Checked: Sep 17 at 12:55AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This residential income property occupies the 16th floor of Landmark Towers and has been remodeled with contemporary finishes. Floor-to-ceiling windows bring natural light into the open living area, which extends to a private balcony with views along Central Avenue and toward downtown Phoenix. The residence was built in 1963 and includes the elevated perspective and indoor-outdoor connection associated with high-rise living.
Building services include 24/7 door staff, secure underground parking, a heated pool, and updated common areas. The HOA covers most major utilities and building services. The property is positioned along Central Avenue with access to Midtown, Downtown, light rail, dining, and entertainment.
Building services include 24/7 door staff, secure underground parking, a heated pool, and updated common areas. The HOA covers most major utilities and building services. The property is positioned along Central Avenue with access to Midtown, Downtown, light rail, dining, and entertainment.
Key Highlights
- 16th‑floor residence in Landmark Towers with views along Central Avenue and toward downtown Phoenix
- Remodeled interior with contemporary finishes and floor‑to‑ceiling windows
- Private balcony connected to the open living area
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
$7,021
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
4.84%
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%
$140,420
$140.4K
Cap Rate 7%
$100,300
$100.3K
Cap Rate 9%
$78,011
$78.0K
Market Conditions
NOI Build-Up for 602 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 $22.56/SF
− Vacancy
−$815 −$1.35/SF
EGI
$12.8K $21.21/SF
− OpEx
−$5.7K −$9.54/SF
NOI
$7.0K $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%
$140,420
Cap Rate 7%
$100,300
Cap Rate 9%
$78,011
Alternative Uses
Best Use
Apartment 5plus
$100.3K
$87.8K – $117.0K
NOI $7,021 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$182.4K
$159.6K – $212.8K
NOI $12,765 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,001
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated high-rise residence with skyline outlooks, private balcony, and full-service building amenities.
Where is this residential income property located?
The property is located at 4750 N CENTRAL Avenue E16 Phoenix, AZ.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: 16th‑floor residence in Landmark Towers with views along Central Avenue and toward downtown Phoenix; Remodeled interior with contemporary finishes and floor‑to‑ceiling windows; Private balcony connected to the open living area
