2-Bedroom
New
For Sale
$225,000
6236 N 16th St #42, Phoenix, AZ 85016
A balcony and shared pool, laundry facilities, and recreation room add useful amenities.
Property Size1,191 SF
Price / SF$188.92
Days on Market4
Property Features for 6236 N 16th St #42
General Information
Standard status
Active
Size
1,191 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
pool
laundry
rec room
Building Details
Year Built
1968
Listing Agency:
West Usa Realty
(602) 942-4200
Listed By:
Brandon Howe Team
(602) 909-6513
Source:
Howerealtygroup
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 1 at 11:36AM
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 West Usa Realty
Investment Insights
Based on property information with market context.
Built in 1968, this 1,191-square-foot condominium has two bedrooms and two bathrooms. The living area features wood-look flooring and a fireplace. In the kitchen, solid-surface counters, white shaker cabinets, a tile backsplash, stainless steel appliances, and a peninsula breakfast bar create a defined meal-preparation and dining area. The primary bedroom includes skylights, carpeting, two built-in closets, and a private bathroom. A balcony extends the unit's usable space outdoors.
Los Blancos Condominiums offers a pool, laundry facilities, a recreation room, and shared common areas.
Los Blancos Condominiums offers a pool, laundry facilities, a recreation room, and shared common areas.
Key Highlights
- 1,191 square feet with 2 bedrooms and 2 bathrooms
- Built in 1968
- Kitchen includes solid‑surface counters, white shaker cabinets, tile backsplash, stainless steel appliances, and breakfast‑bar seating
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
$13,891
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
6.17%
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%
$277,820
$277.8K
Cap Rate 7%
$198,443
$198.4K
Cap Rate 9%
$154,344
$154.3K
Market Conditions
NOI Build-Up for 1,191 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
$26.9K $22.56/SF
− Vacancy
−$1.6K −$1.35/SF
EGI
$25.3K $21.21/SF
− OpEx
−$11.4K −$9.54/SF
NOI
$13.9K $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 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%
$277,820
Cap Rate 7%
$198,443
Cap Rate 9%
$154,344
Alternative Uses
Best Use
Apartment 5plus
$198.4K
$173.6K – $231.5K
NOI $13,891 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$360.8K
$315.7K – $420.9K
NOI $25,253 @ 7.0% cap · market cap 11.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
757
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
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Frequently Asked Questions
What type of property is this?
Residential income property - A balcony and shared pool, laundry facilities, and recreation room add useful amenities.
Where is this residential income property located?
The property is located at 6236 N 16th St #42 Phoenix, AZ.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,191 square feet with 2 bedrooms and 2 bathrooms; Built in 1968; Kitchen includes solid‑surface counters, white shaker cabinets, tile backsplash, stainless steel appliances, and breakfast‑bar seating
