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Ground-Floor Residential Income Property
For Sale
$395,000

7850 E CAMELBACK Road 111, Scottsdale, AZ 85251

A remodeled two-bedroom residence pairs in-unit laundry with access to extensive community recreation and services.

Property Size1,560 SF
Days on Market8

Property Features for 7850 E CAMELBACK Road 111

General Information

Standard status Active
Size 1,560 SF
Property subtype Apartment

Units

Multifamily Units 1
Individually Metered Utilities electricity

Additional Details

Furnished No

Taxes and HOA fees

Annual Taxes $1,149

Amenities

in-unit laundry
covered patio
heated pools
Jacuzzis
outdoor barbecues
tennis courts
executive golf course
fitness centers
library
business center
art studio
ceramics & glass studio
wood-working shop
social lounge
manned guard gate

Building Details

Building Size 1,560 SF
Year Built 1980
Year Renovated 2020
Listing Agency: The Brokery
Listed By: Kristen White
Source: Alexiabertsatos
Added: Oct 21 Changed: Oct 27 Last Checked: Oct 28 at 3:36PM

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 The Brokery

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Investment Insights

Based on property information with market context.

This ground-floor, two-bedroom, two-bathroom condo was remodeled in 2020 and has an expanded kitchen with quartz counters, contemporary cabinetry, upgraded appliances, and added storage. Tile flooring, dual-pane windows, a sliding glass door installed in 2022, and a private covered patio are among its features. The primary suite includes a walk-in closet and updated bathroom; the second bathroom has a tub-and-shower combination. A full-size stackable washer and dryer are in the unit, with an additional owner storage room on the same floor.

Scottsdale Shadows is a gated community with three heated pools, two Jacuzzis, tennis courts, and a nine-hole executive golf course. Additional shared facilities include fitness centers, a sauna, library, business center, art and craft studios, and a social lounge. The HOA covers air conditioning, heat, water, garbage pickup, and access to community amenities; residents pay for electricity used by the in-unit air handler and outlets, as well as any desired internet or telecommunications service.

Key Highlights

  • Two bedrooms and two bathrooms in a ground‑floor condo remodeled in 2020
  • Kitchen features quartz counters, upgraded appliances, an eat‑at bar, and added storage
  • Covered patio faces south and looks toward landscaped grounds and Camelback Mountain

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr
$18,050
Cap Rate
4.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$361,000 $361.0K
Cap Rate 7%
$257,857 $257.9K
Cap Rate 9%
$200,556 $200.6K
Market Conditions
NOI Build-Up for 1,560 SF
Gross rent
$34.3K $21.96/SF
− Vacancy
−$1.4K −$0.92/SF
EGI
$32.8K $21.04/SF
− OpEx
−$14.8K −$9.47/SF
NOI
$18.1K $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 Rate 5%
$361,000
Cap Rate 7%
$257,857
Cap Rate 9%
$200,556

Alternative Uses

Best Use
Apartment 5plus
$257.9K
$225.6K – $300.8K (±1% cap)
NOI $18,050 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$512.1K
$448.1K – $597.5K (±1% cap)
NOI $35,847 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Lease Details

1
Residential units

Location Intelligence

Trade Area within ½ mile

1,238
Businesses Nearby

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
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions

What type of property is this?
Residential income property - A remodeled two-bedroom residence pairs in-unit laundry with access to extensive community recreation and services.
Where is this residential income property located?
The property is located at 7850 E CAMELBACK Road 111 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two bedrooms and two bathrooms in a ground‑floor condo remodeled in 2020; Kitchen features quartz counters, upgraded appliances, an eat‑at bar, and added storage; Covered patio faces south and looks toward landscaped grounds and Camelback Mountain
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