Upper-Floor Residential Income
For Sale
$320,000
6804 E 2ND Street 26, Scottsdale, AZ 85251
Upper-level condominium with in-unit laundry, built-in storage, and recently installed bedroom flooring.
Property Size868 SF
Days on Market15
Property Features for 6804 E 2ND Street 26
General Information
Standard status
Active
Size
868 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$706
Building Details
Building Size
868 SF
Year Built
1958
Listing Agency:
Golden View Realty
Listed By:
Victor Conti
(925) 389-6923
Source:
Alexiabertsatos
Added: Aug 28
Changed: Aug 31
Last Checked: Sep 10 at 8:04AM
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 Golden View Realty
Investment Insights
Based on property information with market context.
This upper-floor condominium is configured as a residential income property and is available immediately. Interior features include a stack washer and dryer, a built-in bookcase, and new vinyl flooring in the bedrooms. The living room also captures sunset views.
Heating and cooling are individually metered, with occupants responsible for their tenant-controlled HVAC use. The HOA covers water, sewer, and garbage service. The complex is undergoing preparation for a new exterior paint scheme and maintains a no-smoking policy. One pet under 20 pounds is permitted. The property was built in 1958 and is located in Scottsdale’s Old Town area.
Heating and cooling are individually metered, with occupants responsible for their tenant-controlled HVAC use. The HOA covers water, sewer, and garbage service. The complex is undergoing preparation for a new exterior paint scheme and maintains a no-smoking policy. One pet under 20 pounds is permitted. The property was built in 1958 and is located in Scottsdale’s Old Town area.
Key Highlights
- Upper‑floor condominium with immediate availability
- Stack washer and dryer included
- Built‑in bookcase provides additional storage
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
$10,043
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
3.14%
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%
$200,860
$200.9K
Cap Rate 7%
$143,471
$143.5K
Cap Rate 9%
$111,589
$111.6K
Market Conditions
NOI Build-Up for 868 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
$19.1K $21.96/SF
− Vacancy
−$801 −$0.92/SF
EGI
$18.3K $21.04/SF
− OpEx
−$8.2K −$9.47/SF
NOI
$10.0K $11.57/SF
Area
Scottsdale, AZ
Vacancy
4.20%
Lease Rate
$21.96 /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%
$200,860
Cap Rate 7%
$143,471
Cap Rate 9%
$111,589
Alternative Uses
Best Use
Apartment 5plus
$143.5K
$125.5K – $167.4K
NOI $10,043 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$284.9K
$249.3K – $332.4K
NOI $19,946 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,382
Businesses Nearby
Explore this area
Business Placement
Demographics for 85251, AZ
40,073
Population
26,456
Households
1.5
Avg Household Size
39
Median Age
60%
College-Educated
96%
High-School Grad
7.2 sq mi
ZIP Area
5,566
Density / Sq Mi
$89,151
Median Household Income
$60,282
Median Earnings
$1,771
Median Rent
$500,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Upper-level condominium with in-unit laundry, built-in storage, and recently installed bedroom flooring.
Where is this residential income property located?
The property is located at 6804 E 2ND Street 26 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Upper‑floor condominium with immediate availability; Stack washer and dryer included; Built‑in bookcase provides additional storage
