Residential Income Property with
4808 N 24th Street #905, Phoenix, AZ 85016
For Sale
New
$429,000
This ninth-floor corner residence includes two bedrooms, two bathrooms, updated interior finishes, and one assigned parking space.
Property Size1,121 SF
Price / SF$382.69
Days on Market5
Property Features for 4808 N 24th Street #905
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
rooftop garden
fitness center
locker rooms
sauna
picnic and BBQ areas
clubhouse
conference room
business center
Wi-Fi common areas
on-site concierge
balcony
washer/dryer
private storage cage
Full Bth Master Bdrm
Double Vanity
Eat-in Kitchen
Pantry
Granite Counters
High Speed Internet
Elevator
No Interior Steps
Balcony
Building Details
Building Size
Year Built
Stories
Listing Agency:
My Home Group Real Estate
(480) 685-2760
Listed By:
Michael Brachfeld · License AZ SA674749000
(480) 652-6059
Source:
Justsellingaz
Added: Nov 11
Changed: Nov 12
Last Checked: Nov 14 at 4:17PM
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
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Investment Insights
Based on property information with market context.
Set on the ninth floor, this 1,121-square-foot corner residence has two bedrooms, two bathrooms, an open layout, and floor-to-ceiling windows. Wood flooring, updated lighting and fixtures, and a kitchen with granite countertops, stainless steel appliances, a gas cooktop, pantry, and under-cabinet lighting are among its features. The home also includes a private balcony, a walk-in closet in the primary suite, an in-unit stacked washer and dryer, one assigned parking space, and a private storage cage. HVAC was replaced in 2025; the building dates to 2006.
Building amenities include a rooftop garden, fitness center with locker rooms and sauna, clubhouse, conference room, business center, picnic and barbecue areas, secure underground parking, and on-site concierge service. The property is at 24th Street and Camelback Road in Phoenix, with access to Downtown Phoenix, Scottsdale, and Sky Harbor International Airport.
Building amenities include a rooftop garden, fitness center with locker rooms and sauna, clubhouse, conference room, business center, picnic and barbecue areas, secure underground parking, and on-site concierge service. The property is at 24th Street and Camelback Road in Phoenix, with access to Downtown Phoenix, Scottsdale, and Sky Harbor International Airport.
Key Highlights
- Two bedrooms and two bathrooms across 1,121 square feet
- Ninth‑floor corner residence with floor‑to‑ceiling windows and a private balcony
- HVAC replaced in 2025; building constructed in 2006
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,075
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$261,500
$261.5K
Cap Rate 7%
$186,786
$186.8K
Cap Rate 9%
$145,278
$145.3K
Market Conditions
NOI Build-Up for 1,121 SF
Gross rent
$25.3K $22.56/SF
− Vacancy
−$1.5K −$1.35/SF
EGI
$23.8K $21.21/SF
− OpEx
−$10.7K −$9.54/SF
NOI
$13.1K $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%
$261,500
Cap Rate 7%
$186,786
Cap Rate 9%
$145,278
Alternative Uses
Best Use
Apartment 5plus
$186.8K
$163.4K – $217.9K
NOI $13,075 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$339.6K
$297.1K – $396.2K
NOI $23,769 @ 7.0% cap · market cap 5.54%
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
3,822
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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Market
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Frequently Asked Questions
What type of property is this?
Residential income property - This ninth-floor corner residence includes two bedrooms, two bathrooms, updated interior finishes, and one assigned parking space.
Where is this residential income property located?
The property is located at 4808 N 24th Street #905 Phoenix, AZ.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Two bedrooms and two bathrooms across 1,121 square feet; Ninth‑floor corner residence with floor‑to‑ceiling windows and a private balcony; HVAC replaced in 2025; building constructed in 2006
