Residential Income Property with
For Sale
$290,000
5246 N 20TH Street 6B, Phoenix, AZ 85016
Updated second-floor condominium offering two bedrooms, in-unit laundry, and access to a community pool.
Property Size1,050 SF
Days on Market72
Property Features for 5246 N 20TH Street 6B
General Information
Standard status
Active
Size
1,050 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,315
Amenities
in unit laundry
private balcony
community pool
Building Details
Building Size
1,050 SF
Year Built
1964
Listing Agency:
First Team Real Estate
Listed By:
Lisa Ann Schantz
(201) 349-4427
Source:
Alexiabertsatos
Added: Jul 29
Changed: Oct 3
Last Checked: Oct 7 at 3:35PM
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 First Team Real Estate
Investment Insights
Based on property information with market context.
This second-floor condominium includes two bedrooms and two bathrooms in a split-bedroom layout. Contemporary updates have been completed over time, with in-unit laundry, natural light, and a private balcony positioned above the community pool. The residence was built in 1964.
The property is located near Town & Country Shopping Center, Trader Joe’s, Biltmore Fashion Park, and the Camelback Corridor. Access to Midtown Phoenix, Arcadia, Sky Harbor Airport, and SR-51 places shopping, dining, daily conveniences, and regional travel within reach.
The property is located near Town & Country Shopping Center, Trader Joe’s, Biltmore Fashion Park, and the Camelback Corridor. Access to Midtown Phoenix, Arcadia, Sky Harbor Airport, and SR-51 places shopping, dining, daily conveniences, and regional travel within reach.
Key Highlights
- Two‑bedroom, two‑bathroom second‑floor condominium
- Split‑bedroom floor plan with private balcony
- In‑unit laundry and contemporary updates
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,247
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$244,940
$244.9K
Cap Rate 7%
$174,957
$175.0K
Cap Rate 9%
$136,078
$136.1K
Market Conditions
NOI Build-Up for 1,050 SF
Gross rent
$23.7K $22.56/SF
− Vacancy
−$1.4K −$1.35/SF
EGI
$22.3K $21.21/SF
− OpEx
−$10.0K −$9.54/SF
NOI
$12.2K $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%
$244,940
Cap Rate 7%
$174,957
Cap Rate 9%
$136,078
Alternative Uses
Best Use
Apartment 5plus
$175.0K
$153.1K – $204.1K
NOI $12,247 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$318.1K
$278.3K – $371.1K
NOI $22,264 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,403
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 - Updated second-floor condominium offering two bedrooms, in-unit laundry, and access to a community pool.
Where is this residential income property located?
The property is located at 5246 N 20TH Street 6B Phoenix, AZ.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom second‑floor condominium; Split‑bedroom floor plan with private balcony; In‑unit laundry and contemporary updates
