Quadplex with Private
For Sale
Contact for pricing
6024 North 12th Street, Phoenix, AZ 85014
Four-unit property with individual yards, covered parking, and on-site laundry.
Property Size3,463 SF
Lot Size0.34 Acres
Price / SF$317.64
Days on Market128
Property Features for 6024 North 12th Street
General Information
Standard status
Active
Size
3,463 SF
Class
C
Lot size
0.34 Acres
Property subtype
Multifamily
Occupancy
100%
Net Operating Income
$61,505
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
onsite laundry
Building Details
Buildings
2
Units
4
Construction
masonry/brick
Listing Agency:
S.J. Fowler Real Estate, Inc.
Listed By:
Eric Hegarty · License #SA 650759000
(480) 329-6083
Source:
Crexi
Added: May 6
Changed: Aug 31
Last Checked: Aug 31 at 8:12AM
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 S.J. Fowler Real Estate, Inc.
Investment Insights
Based on property information with market context.
This quadplex consists of two masonry and brick buildings containing four two-bedroom units. Each residence includes one full bathroom with a tub and a private yard. The property also provides covered parking and on-site laundry facilities.
The buildings occupy a 15,000-square-foot corner lot at 6024 North 12th Street in Phoenix, Arizona 85014. Mature shade trees add established landscaping around the site, while the separate buildings and individual outdoor areas provide a practical residential configuration.
The buildings occupy a 15,000-square-foot corner lot at 6024 North 12th Street in Phoenix, Arizona 85014. Mature shade trees add established landscaping around the site, while the separate buildings and individual outdoor areas provide a practical residential configuration.
Key Highlights
- Four two‑bedroom units, each with one full bathroom and tub
- Private yard for each unit
- Two masonry and brick buildings
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
$45,357
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
4.12%
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%
$907,140
$907.1K
Cap Rate 7%
$647,957
$648.0K
Cap Rate 9%
$503,967
$504.0K
Market Conditions
NOI Build-Up for 3,463 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
$68.6K $19.80/SF
− Vacancy
−$3.8K −$1.09/SF
EGI
$64.8K $18.71/SF
− OpEx
−$19.4K −$5.61/SF
NOI
$45.4K $13.10/SF
Area
Phoenix, AZ
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$907,140
Cap Rate 7%
$647,957
Cap Rate 9%
$503,967
Alternative Uses
Best Use
Multifamily LT 5
$648.0K
$567.0K – $756.0K
NOI $45,357 @ 7.0% cap · market cap 4.12%
Second Best
Apartment 5plus
$577.0K
$504.9K – $673.2K
NOI $40,391 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$1.05M
$917.9K – $1.22M
NOI $73,428 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,590
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with individual yards, covered parking, and on-site laundry.
Where is this quadplex located?
The property is located at 6024 North 12th Street Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four two‑bedroom units, each with one full bathroom and tub; Private yard for each unit; Two masonry and brick buildings
