Single-Story 8-Unit Apartment
For Sale
Contact for pricing
Pending
5317 North 11th Street, Phoenix, AZ 85014
8-unit, single-story multifamily featuring in-unit washers/dryers and a private pool.
Property Size7,000 SF
Lot Size0.63 Acres
Days on Market113
Property Features for 5317 North 11th Street
General Information
Standard status
Pending
Size
7,000 SF
Total Parking Spaces
8
Lot size
0.63 Acres
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Additional Details
Highway Access
Yes
Multifamily Units
8
Amenities
pool
covered parking
storage
Building Details
Year Built
1963
Year Renovated
2014
Buildings
4
Stories
1
Units
8
Tenancy
Multi
Listing Agency:
Keig Commercial
Listed By:
Frank Demeter · License #AZ BR503910000
Source:
Crexi
Added: May 19
Changed: Sep 2
Last Checked: Sep 2 at 6:24AM
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 Keig Commercial
Investment Insights
Based on property information with market context.
5317 N. 11th Street Apartments is an 8-unit, single-story multifamily property in Phoenix, AZ, configured as four separate buildings. The community consists entirely of 2-bedroom residences. Built in 1963, the property underwent renovations between 2012–2014.
Unit interiors include open kitchens and polished concrete floors, with in-unit washers and dryers. Most residences also include private patios or secure backyards. Community amenities include a private pool, covered parking, and individual storage, set within a landscaped setting.
The property is positioned in the Biltmore / North Central Corridor and is described as an infill location with walkable access to destinations including the Arizona Biltmore, Biltmore Fashion Park, the 7th Street restaurant corridor, and the Arizona Canal, along with nearby trailheads and major employment hubs with quick connectivity to AZ-51.
Unit interiors include open kitchens and polished concrete floors, with in-unit washers and dryers. Most residences also include private patios or secure backyards. Community amenities include a private pool, covered parking, and individual storage, set within a landscaped setting.
The property is positioned in the Biltmore / North Central Corridor and is described as an infill location with walkable access to destinations including the Arizona Biltmore, Biltmore Fashion Park, the 7th Street restaurant corridor, and the Arizona Canal, along with nearby trailheads and major employment hubs with quick connectivity to AZ-51.
Key Highlights
- 8‑unit, single‑story multifamily at 5317 N. 11th Street, Phoenix, AZ 85014
- All 2‑bedroom units across four buildings on approximately 0.63 acres
- Built in 1963; renovated between 2012–2014
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$81,645
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,632,900
$1.6M
Cap Rate 7%
$1,166,357
$1.2M
Cap Rate 9%
$907,167
$907.2K
Market Conditions
NOI Build-Up for 7,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$157.9K $22.56/SF
− Vacancy
−$9.5K −$1.35/SF
EGI
$148.4K $21.21/SF
− OpEx
−$66.8K −$9.54/SF
NOI
$81.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,632,900
Cap Rate 7%
$1,166,357
Cap Rate 9%
$907,167
Alternative Uses
Best Use
Apartment 5plus
$1.17M
$1.02M – $1.36M
NOI $81,645 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.12M
$1.86M – $2.47M
NOI $148,425 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,539
Businesses Nearby
Explore this area
Business Placement
Demographics for 85014, AZ
26,381
Population
14,778
Households
1.8
Avg Household Size
37
Median Age
43%
College-Educated
90%
High-School Grad
4.0 sq mi
ZIP Area
6,595
Density / Sq Mi
$69,995
Median Household Income
$48,465
Median Earnings
$1,339
Median Rent
$447,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 8-unit, single-story multifamily featuring in-unit washers/dryers and a private pool.
Where is this apartment building located?
The property is located at 5317 North 11th Street Phoenix, AZ.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 8‑unit, single‑story multifamily at 5317 N. 11th Street, Phoenix, AZ 85014; All 2‑bedroom units across four buildings on approximately 0.63 acres; Built in 1963; renovated between 2012–2014
