Updated 2-Bedroom
For Sale
$412,000
5104 N 32nd St #236, Phoenix, AZ 85018
Renovated condominium with a split layout, private tree-facing balcony, and access to gated community amenities.
Property Size1,257 SF
Price / SF$327.76
Days on Market55
Property Features for 5104 N 32nd St #236
General Information
Standard status
Active
Size
1,257 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
gated entry
underground parking
heated community pool
sauna
clubhouse
fitness center
Building Details
Year Built
1990
Year Renovated
2018
Listing Agency:
West Usa Realty
(602) 942-4200
Listed By:
Brandon Howe Team
(602) 909-6513
Source:
Howerealtygroup
Added: Aug 24
Changed: Oct 16
Last Checked: Oct 16 at 8:55AM
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 West Usa Realty
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Investment Insights
Based on property information with market context.
This 1,257-square-foot condominium includes two bedrooms, two bathrooms, and a split-bedroom arrangement within a 1990-built community. A 2018 renovation introduced luxury vinyl plank flooring, recessed lighting, ceiling fans, updated paint, and a refreshed kitchen with white shaker cabinetry, new countertops, subway-tile backsplash, and stainless steel GE appliances. Both bathrooms feature updated vanities, undermount sinks, and faucets; the primary suite adds a custom-tiled shower. In-unit laundry includes a Whirlpool washer and dryer with additional cabinetry.
The living area opens to a private balcony oriented toward the trees, with updated ceramic tile flooring. Meridian Condominiums provides gated entry, designated underground parking, a heated pool, sauna, clubhouse, and fitness center with hours extending until 10 p.m. The property is at 5104 N 32nd St #236 in Phoenix, near the Biltmore and Arcadia areas, Whole Foods Market, Safeway, Biltmore Fashion Park, and Camelback Mountain.
The living area opens to a private balcony oriented toward the trees, with updated ceramic tile flooring. Meridian Condominiums provides gated entry, designated underground parking, a heated pool, sauna, clubhouse, and fitness center with hours extending until 10 p.m. The property is at 5104 N 32nd St #236 in Phoenix, near the Biltmore and Arcadia areas, Whole Foods Market, Safeway, Biltmore Fashion Park, and Camelback Mountain.
Key Highlights
- 2‑bedroom, 2‑bath condominium with a split‑bedroom layout
- 2018 renovation with LVP flooring, recessed lighting, and updated finishes
- Updated kitchen with white shaker cabinetry, new countertops, tile backsplash, and GE appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,661
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$293,220
$293.2K
Cap Rate 7%
$209,443
$209.4K
Cap Rate 9%
$162,900
$162.9K
Market Conditions
NOI Build-Up for 1,257 SF
Gross rent
$28.4K $22.56/SF
− Vacancy
−$1.7K −$1.35/SF
EGI
$26.7K $21.21/SF
− OpEx
−$12.0K −$9.54/SF
NOI
$14.7K $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%
$293,220
Cap Rate 7%
$209,443
Cap Rate 9%
$162,900
Alternative Uses
Best Use
Apartment 5plus
$209.4K
$183.3K – $244.4K
NOI $14,661 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$380.8K
$333.2K – $444.2K
NOI $26,653 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,591
Businesses Nearby
Explore this area
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 - Renovated condominium with a split layout, private tree-facing balcony, and access to gated community amenities.
Where is this residential income property located?
The property is located at 5104 N 32nd St #236 Phoenix, AZ.
What is the asking price?
The asking price for this property is $412,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath condominium with a split‑bedroom layout; 2018 renovation with LVP flooring, recessed lighting, and updated finishes; Updated kitchen with white shaker cabinetry, new countertops, tile backsplash, and GE appliances
