Eight-Unit Apartment
For Sale
$1,100,000
6306 W MARYLAND Avenue, Glendale, AZ 85301
Multiple Dwellings, Glendale, AZ
Property Size3,200 SF
Lot Size0.32 Acres
Price / SF$343.75
Days on Market426
Property Features for 6306 W MARYLAND Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 8, Bathroom 2, Bedroom 7, Bathroom 7, Bedroom 5, Bathroom 3, Bathroom 6, Bathroom 5, Bathroom 8, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 4, Bedroom 6, Bedroom 4, Bedroom 1
Appliances
Refrigerator, Free-Standing Gas Oven
Subdivision
ORCHARD ADD BLK 6 LOT 5-10
Elementary school district
Glendale Elementary District
Middle school district
Glendale Union High School District
High school district
Glendale Union High School District
Directions
From Grand Ave (US-60), turn east on W Myrtle Ave. Continue to N 63rd Ave and turn left. Go two blocks, then turn right onto W Maryland Ave. The property is on the left at 6306 N Maryland Ave, Glendale, AZ 85301.
Standard status
Active
APN
144-13-037
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
ORCHARD ADD S 100' OF E 140' LOT 8 BLK 7
Tax Annual Amount
1797
Legal Description
ORCHARD ADD S 100' OF E 140' LOT 8 BLK 7
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Wall Unit(s), Electric, Wall/Window Unit(s), Ceiling Fan(s)
Building Details
Year built
1963
Number of units
8
Flooring type
Vinyl
Building materials
Wood Frame, Stucco
Listing Agency:
Realty ONE Group
(623) 236-1414
Listed By:
Kinal Movalia · License #SA555652000
(623) 308-2909
Added: Aug 2, 2025
Changed: Sep 24
Last Checked: Oct 1 at 9:06PM
MLS# 6900707
Copyright © 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This apartment property comprises eight one-bedroom, one-bathroom residences arranged across three separate buildings. The improvements contain approximately 3,200 square feet of total living area on a 14,000+ square foot lot, with vinyl flooring, wood-frame and stucco construction, natural-gas heating, and electric cooling through wall and window units. Appliances include refrigerators and free-standing gas ovens. The property was built in 1963 and is served by public sewer.
Located at 6306 W Maryland Avenue in Glendale, the property is near downtown Glendale, shopping, schools, and freeway access. R-3 zoning supports the stated multifamily configuration, while on-site parking is also identified as a property feature.
Located at 6306 W Maryland Avenue in Glendale, the property is near downtown Glendale, shopping, schools, and freeway access. R-3 zoning supports the stated multifamily configuration, while on-site parking is also identified as a property feature.
Key Highlights
- Eight 1‑bedroom, 1‑bathroom apartment units
- Three separate buildings on a 14,000+ sq ft lot
- Approximately 3,200 sq ft of total living space
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
$32,583
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
2.96%
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%
$651,660
$651.7K
Cap Rate 7%
$465,471
$465.5K
Cap Rate 9%
$362,033
$362.0K
Market Conditions
NOI Build-Up for 3,200 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
$63.4K $19.80/SF
− Vacancy
−$4.1K −$1.29/SF
EGI
$59.2K $18.51/SF
− OpEx
−$26.7K −$8.33/SF
NOI
$32.6K $10.18/SF
Area
Glendale, AZ
Vacancy
6.50%
Lease Rate
$19.80 /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%
$651,660
Cap Rate 7%
$465,471
Cap Rate 9%
$362,033
Alternative Uses
Best Use
Apartment 5plus
$465.5K
$407.3K – $543.1K
NOI $32,583 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$879.5K – $1.17M
NOI $70,361 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
878
Businesses Nearby
Explore this area
Business Placement
Demographics for 85301, AZ
67,380
Population
24,019
Households
2.8
Avg Household Size
30
Median Age
11%
College-Educated
71%
High-School Grad
9.3 sq mi
ZIP Area
7,245
Density / Sq Mi
$47,422
Median Household Income
$33,727
Median Earnings
$1,189
Median Rent
$218,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Three separate buildings provide compact one-bedroom residences with shared parking and R-3 zoning.
Where is this apartment building located?
The property is located at 6306 W MARYLAND Avenue Glendale, 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: Eight 1‑bedroom, 1‑bathroom apartment units; Three separate buildings on a 14,000+ sq ft lot; Approximately 3,200 sq ft of total living space
