Renovated Residential Income
For Sale
$384,500
4848 N 36th St #130, Phoenix, AZ 85018
Two-bedroom unit with private balcony, updated kitchen, in-unit laundry, and access to community pool and spa.
Property Size1,025 SF
Price / SF$375.12
Days on Market32
Property Features for 4848 N 36th St #130
General Information
Standard status
Active
Size
1,025 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Amenities
gated community
in-unit laundry
private balcony
fireplace
pool
spa
clubhouse
built-in BBQ
Building Details
Year Built
1994
Listing Agency:
My Home Group Real Estate
(480) 685-2760
Listed By:
Jeremy Jennings · License #SA684096000
(623) 986-6650
Source:
Theazliving
Added: Aug 17
Changed: Sep 15
Last Checked: Sep 16 at 6:49PM
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.
Unit 207 at the gated Pavilions at Camelback community was renovated with an open living area, vaulted ceilings, fireplace, light oak flooring, and abundant natural light. The kitchen includes custom cabinetry, quartz countertops, built-in appliances, pantry storage, breakfast bar, and a separate coffee and bar area. The primary bedroom features dual sinks and a walk-in closet, while the second bedroom can serve as a guest room or office. An in-unit laundry room and private balcony with mountain views complete the interior offering.
Community amenities include a pool, spa, clubhouse, and built-in BBQ. The property is located at 36th Street and Camelback, near dining and shopping. Built in 1994.
Community amenities include a pool, spa, clubhouse, and built-in BBQ. The property is located at 36th Street and Camelback, near dining and shopping. Built in 1994.
Key Highlights
- Renovated two‑bedroom unit in the gated Pavilions at Camelback community
- Open great room with vaulted ceilings, fireplace, light oak flooring, and natural light
- Kitchen with quartz counters, custom cabinetry, built‑in appliances, pantry, and breakfast bar
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
$11,955
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
3.11%
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%
$239,100
$239.1K
Cap Rate 7%
$170,786
$170.8K
Cap Rate 9%
$132,833
$132.8K
Market Conditions
NOI Build-Up for 1,025 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
$23.1K $22.56/SF
− Vacancy
−$1.4K −$1.35/SF
EGI
$21.7K $21.21/SF
− OpEx
−$9.8K −$9.54/SF
NOI
$12.0K $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%
$239,100
Cap Rate 7%
$170,786
Cap Rate 9%
$132,833
Alternative Uses
Best Use
Apartment 5plus
$170.8K
$149.4K – $199.3K
NOI $11,955 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$310.5K
$271.7K – $362.2K
NOI $21,734 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,063
Businesses Nearby
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Business Placement
Demographics for 85018, AZ
37,944
Population
19,487
Households
1.9
Avg Household Size
40
Median Age
57%
College-Educated
92%
High-School Grad
15.1 sq mi
ZIP Area
2,513
Density / Sq Mi
$87,637
Median Household Income
$58,555
Median Earnings
$1,411
Median Rent
$805,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom unit with private balcony, updated kitchen, in-unit laundry, and access to community pool and spa.
Where is this residential income property located?
The property is located at 4848 N 36th St #130 Phoenix, AZ.
What is the asking price?
The asking price for this property is $384,500.
What are key features of this property?
This property features: Renovated two‑bedroom unit in the gated Pavilions at Camelback community; Open great room with vaulted ceilings, fireplace, light oak flooring, and natural light; Kitchen with quartz counters, custom cabinetry, built‑in appliances, pantry, and breakfast bar
