Third-Floor Residential Income
For Sale
$169,000
5302 E VAN BUREN Street 3016, Phoenix, AZ 85008
A west-facing one-bedroom residence offers a balcony within a gated Phoenix community.
Property Size643 SF
Days on Market8
Property Features for 5302 E VAN BUREN Street 3016
General Information
Standard status
Active
Size
643 SF
Property subtype
Apartment
Site & Location
Neighborhood
Camelback East
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$756
Amenities
resort style pool and spa
fitness center
clubhouse
BBQ areas
covered parking
exclusive gated access to Papago Park trails
Building Details
Building Size
643 SF
Year Built
2002
Listing Agency:
Engel & Voelkers Scottsdale
Listed By:
Allison Swopes
(602) 293-7640
Source:
Alexiabertsatos
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 28 at 3:25PM
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 Engel & Voelkers Scottsdale
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Investment Insights
Based on property information with market context.
This 2002-built, third-floor condo has one bedroom, one bathroom, an open-plan interior, and a walk-in closet in the primary bedroom. A private balcony faces west. The home is part of a gated community with a pool and spa, fitness center, clubhouse, barbecue areas, and covered parking.
Residents have gated access to Papago Park trails. Sky Harbor Airport, Old Town Scottsdale, Tempe, ASU, and Downtown Phoenix are described as minutes away, with dining, shopping, and entertainment nearby.
Residents have gated access to Papago Park trails. Sky Harbor Airport, Old Town Scottsdale, Tempe, ASU, and Downtown Phoenix are described as minutes away, with dining, shopping, and entertainment nearby.
Key Highlights
- One‑bedroom, one‑bathroom condo on the third floor
- West‑facing private balcony
- Gated community with pool, spa, fitness center, clubhouse, barbecue areas, and covered parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,746
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$134,920
$134.9K
Cap Rate 7%
$96,371
$96.4K
Cap Rate 9%
$74,956
$75.0K
Market Conditions
NOI Build-Up for 643 SF
Gross rent
$13.1K $20.40/SF
− Vacancy
−$853 −$1.33/SF
EGI
$12.3K $19.07/SF
− OpEx
−$5.5K −$8.58/SF
NOI
$6.7K $10.49/SF
Area
ZIP 85008
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$134,920
Cap Rate 7%
$96,371
Cap Rate 9%
$74,956
Alternative Uses
Best Use
Apartment 5plus
$96.4K
$84.3K – $112.4K
NOI $6,746 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$198.7K
$173.9K – $231.8K
NOI $13,910 @ 7.0% cap · market cap 8.23%
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
573
Businesses Nearby
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Business Placement
Demographics for 85008, AZ
59,047
Population
24,508
Households
2.4
Avg Household Size
30
Median Age
24%
College-Educated
75%
High-School Grad
10.2 sq mi
ZIP Area
5,789
Density / Sq Mi
$61,369
Median Household Income
$36,969
Median Earnings
$1,300
Median Rent
$323,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A west-facing one-bedroom residence offers a balcony within a gated Phoenix community.
Where is this residential income property located?
The property is located at 5302 E VAN BUREN Street 3016 Phoenix, AZ.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: One‑bedroom, one‑bathroom condo on the third floor; West‑facing private balcony; Gated community with pool, spa, fitness center, clubhouse, barbecue areas, and covered parking
