Residential Income Property with
For Sale
$215,000
5525 E THOMAS Road P8, Phoenix, AZ 85018
The condo includes a covered private balcony and access to a shared pool, spa, and clubhouse.
Property Size848 SF
Days on Market18
Property Features for 5525 E THOMAS Road P8
General Information
Standard status
Active
Size
848 SF
Property subtype
Apartment
Site & Location
Neighborhood
Camelback East
Highway Access
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$660
Amenities
swimming pool
spa
clubhouse
fireplace
gathering areas
covered balcony
Building Details
Building Size
848 SF
Year Built
1974
Listing Agency:
RE/MAX Fine Properties
Listed By:
Nathan C Martinez · License #BR027768000
(602) 430-5226
Source:
Alexiabertsatos
Added: Oct 16
Changed: Oct 31
Last Checked: Nov 1 at 3:37PM
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 RE/MAX Fine Properties
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Investment Insights
Based on property information with market context.
This Phoenix condo, built in 1974, has an open living and dining area with tile floors and sliding doors to a covered private balcony. The kitchen features granite counters, wood cabinetry, stainless steel appliances, a breakfast bar, and storage. The bathroom also has granite counters, updated fixtures, and cabinet storage.
Residents have access to a community swimming pool, spa, and clubhouse with a fireplace and gathering areas. Shopping, dining, entertainment, and major freeways are noted as accessible from the property, along with Scottsdale, Arcadia, and Downtown Phoenix.
Residents have access to a community swimming pool, spa, and clubhouse with a fireplace and gathering areas. Shopping, dining, entertainment, and major freeways are noted as accessible from the property, along with Scottsdale, Arcadia, and Downtown Phoenix.
Key Highlights
- Built in 1974
- Covered private balcony
- Kitchen with granite counters, wood cabinetry, stainless steel appliances, and breakfast bar
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,891
Cap Rate
4.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$197,820
$197.8K
Cap Rate 7%
$141,300
$141.3K
Cap Rate 9%
$109,900
$109.9K
Market Conditions
NOI Build-Up for 848 SF
Gross rent
$19.1K $22.56/SF
− Vacancy
−$1.1K −$1.35/SF
EGI
$18.0K $21.21/SF
− OpEx
−$8.1K −$9.54/SF
NOI
$9.9K $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%
$197,820
Cap Rate 7%
$141,300
Cap Rate 9%
$109,900
Alternative Uses
Best Use
Apartment 5plus
$141.3K
$123.6K – $164.9K
NOI $9,891 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$256.9K
$224.8K – $299.7K
NOI $17,981 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
Explore this area
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 - The condo includes a covered private balcony and access to a shared pool, spa, and clubhouse.
Where is this residential income property located?
The property is located at 5525 E THOMAS Road P8 Phoenix, AZ.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Built in 1974; Covered private balcony; Kitchen with granite counters, wood cabinetry, stainless steel appliances, and breakfast bar
