Ground-Level Residential Income
For Sale
$365,000
7401 W ARROWHEAD CLUBHOUSE Drive 1023, Glendale, AZ 85308
Private patio and split-bedroom layout complement the unit’s open living plan.
Property Size1,352 SF
Days on Market145
Property Features for 7401 W ARROWHEAD CLUBHOUSE Drive 1023
General Information
Standard status
Active
Size
1,352 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,652
Building Details
Building Size
1,352 SF
Year Built
1997
Listing Agency:
Arizona E Homes
(623) 640-8493
Listed By:
Kym Polanco · License #SA533871000
(623) 640-8493
Source:
Jcluxuryresidential
Added: Mar 25
Changed: Aug 15
Last Checked: Aug 15 at 5:28AM
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 Arizona E Homes
Investment Insights
Based on property information with market context.
This ground-level residential income property at Fairways features a great room arrangement with separate bedroom zones and a private tiled-and-paver patio facing the garden. The interior includes stainless steel appliances, granite kitchen counters, a breakfast nook, travertine flooring in the living areas, and laminate flooring in the bedrooms. The guest bathroom has a tiled, no-threshold walk-in shower, while the primary suite includes a separate tub and shower plus organized closet storage.
A new HVAC system was installed in 2025, and a new hot water heater is identified for 2026. The property offers freeway access and is approximately 30 minutes from Sky Harbor or Scottsdale. AJ’s Fine Foods, dining, and shopping are located minutes away.
A new HVAC system was installed in 2025, and a new hot water heater is identified for 2026. The property offers freeway access and is approximately 30 minutes from Sky Harbor or Scottsdale. AJ’s Fine Foods, dining, and shopping are located minutes away.
Key Highlights
- Ground‑level unit with great room and split‑bedroom configuration
- Private tiled‑and‑paver patio overlooking the garden with east exposure
- Stainless steel appliances, granite counters, and kitchen nook
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
$13,766
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
3.77%
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%
$275,320
$275.3K
Cap Rate 7%
$196,657
$196.7K
Cap Rate 9%
$152,956
$153.0K
Market Conditions
NOI Build-Up for 1,352 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
$26.8K $19.80/SF
− Vacancy
−$1.7K −$1.29/SF
EGI
$25.0K $18.51/SF
− OpEx
−$11.3K −$8.33/SF
NOI
$13.8K $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%
$275,320
Cap Rate 7%
$196,657
Cap Rate 9%
$152,956
Alternative Uses
Best Use
Apartment 5plus
$196.7K
$172.1K – $229.4K
NOI $13,766 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$424.7K
$371.6K – $495.5K
NOI $29,728 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
Explore this area
Business Placement
Demographics for 85308, AZ
66,540
Population
26,540
Households
2.5
Avg Household Size
40
Median Age
38%
College-Educated
95%
High-School Grad
16.9 sq mi
ZIP Area
3,937
Density / Sq Mi
$95,512
Median Household Income
$50,026
Median Earnings
$1,777
Median Rent
$420,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Private patio and split-bedroom layout complement the unit’s open living plan.
Where is this residential income property located?
The property is located at 7401 W ARROWHEAD CLUBHOUSE Drive 1023 Glendale, AZ.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Ground‑level unit with great room and split‑bedroom configuration; Private tiled‑and‑paver patio overlooking the garden with east exposure; Stainless steel appliances, granite counters, and kitchen nook
