Top-Floor Residential Income
For Sale
$445,000
5104 N 32ND Street #444, Phoenix, AZ 85018
A 2025 interior update adds quartz counters, stainless appliances and fresh paint to the kitchen and both bathrooms.
Property Size1,277 SF
Price / SF$348.47
Days on Market39
Property Features for 5104 N 32ND Street #444
General Information
Standard status
Active
Size
1,277 SF
Total Parking Spaces
1
Property subtype
Apartment
Site & Location
Neighborhood
Camelback East
Additional Details
Multifamily Units
1
Amenities
pool
jacuzzi
workout room
clubhouse
balcony
visitor parking
Building Details
Year Built
1990
Listing Agency:
HomeSmart
(602) 230-7600
Listed By:
Kelly Knapp · License #SA091142000
(602) 882-1332
Source:
Kathrynthomas
Added: Sep 24
Changed: Oct 28
Last Checked: Oct 31 at 9:09PM
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
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Investment Insights
Based on property information with market context.
This 1,277-square-foot, top-floor condominium has wood flooring through the living areas and primary bedroom. A 2025 update brought quartz counters to the kitchen and both bathrooms, along with a new kitchen sink and faucet, stainless appliances and fresh paint. Balcony storage adds a practical feature to the unit.
A gate connects the grounds to the Safeway plaza, with restaurants and retail also described as walkable. The property offers one garage space and nearby visitor parking. Shared amenities include a pool, jacuzzi, workout room and clubhouse.
A gate connects the grounds to the Safeway plaza, with restaurants and retail also described as walkable. The property offers one garage space and nearby visitor parking. Shared amenities include a pool, jacuzzi, workout room and clubhouse.
Key Highlights
- 1,277‑square‑foot top‑floor condominium
- 2025 updates include quartz counters in the kitchen and both bathrooms
- Stainless appliances, new kitchen sink and faucet, and fresh paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,894
Cap Rate
3.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$297,880
$297.9K
Cap Rate 7%
$212,771
$212.8K
Cap Rate 9%
$165,489
$165.5K
Market Conditions
NOI Build-Up for 1,277 SF
Gross rent
$28.8K $22.56/SF
− Vacancy
−$1.7K −$1.35/SF
EGI
$27.1K $21.21/SF
− OpEx
−$12.2K −$9.54/SF
NOI
$14.9K $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%
$297,880
Cap Rate 7%
$212,771
Cap Rate 9%
$165,489
Alternative Uses
Best Use
Apartment 5plus
$212.8K
$186.2K – $248.2K
NOI $14,894 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$386.8K
$338.5K – $451.3K
NOI $27,077 @ 7.0% cap · market cap 6.08%
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
1,591
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 - A 2025 interior update adds quartz counters, stainless appliances and fresh paint to the kitchen and both bathrooms.
Where is this residential income property located?
The property is located at 5104 N 32ND Street #444 Phoenix, AZ.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: 1,277‑square‑foot top‑floor condominium; 2025 updates include quartz counters in the kitchen and both bathrooms; Stainless appliances, new kitchen sink and faucet, and fresh paint
