Gated Residential Income
For Sale
$445,000
5205 N 24TH Street 103, Phoenix, AZ 85016
Gated community residence with a pool, tennis courts, golf access, and 24/7 security.
Property Size1,189 SF
Days on Market18
Property Features for 5205 N 24TH Street 103
General Information
Standard status
Active
Size
1,189 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,295
Amenities
swimming pool
golf course access
tennis courts
24/7 security
Building Details
Building Size
1,189 SF
Year Built
1979
Listing Agency:
Barrett Real Estate
Listed By:
Joey Gutierrez Rodriguez · License #SA679681000
(480) 273-9019
Source:
Jcluxuryresidential
Added: Sep 19
Changed: Oct 6
Last Checked: Oct 5 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 Barrett Real Estate
Investment Insights
Based on property information with market context.
This residential income property is located within a gated community and offers a private setting with access to a swimming pool, tennis courts, and a golf course. The residence was built in 1979 and is positioned for use as a full-time home, second residence, vacation property, or investment asset. No rental restrictions are noted, providing flexibility for ownership and leasing plans.
The property is in Phoenix’s Biltmore area, with dining, upscale shopping, fashion, entertainment, and everyday conveniences nearby. Community security is provided around the clock, supporting a lock-and-leave ownership model in an established residential setting.
The property is in Phoenix’s Biltmore area, with dining, upscale shopping, fashion, entertainment, and everyday conveniences nearby. Community security is provided around the clock, supporting a lock-and-leave ownership model in an established residential setting.
Key Highlights
- Gated community with 24/7 security
- Swimming pool, tennis courts, and golf course access
- No rental restrictions noted
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,868
Cap Rate
3.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$277,360
$277.4K
Cap Rate 7%
$198,114
$198.1K
Cap Rate 9%
$154,089
$154.1K
Market Conditions
NOI Build-Up for 1,189 SF
Gross rent
$26.8K $22.56/SF
− Vacancy
−$1.6K −$1.35/SF
EGI
$25.2K $21.21/SF
− OpEx
−$11.3K −$9.54/SF
NOI
$13.9K $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%
$277,360
Cap Rate 7%
$198,114
Cap Rate 9%
$154,089
Alternative Uses
Best Use
Apartment 5plus
$198.1K
$173.4K – $231.1K
NOI $13,868 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$360.2K
$315.1K – $420.2K
NOI $25,211 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,531
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Gated community residence with a pool, tennis courts, golf access, and 24/7 security.
Where is this residential income property located?
The property is located at 5205 N 24TH Street 103 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: Gated community with 24/7 security; Swimming pool, tennis courts, and golf course access; No rental restrictions noted
