Residential Income Property with
New
For Sale
$264,000
7920 E Camelback Rd #508, Scottsdale, AZ 85251
The two-bedroom residence features an open layout, a private balcony, and access to shared community amenities.
Property Size1,200 SF
Price / SF$220
Days on Market2
Property Features for 7920 E Camelback Rd #508
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
three pools
spa
tennis courts
private 9-hole golf course
fitness center
art studio
Building Details
Year Built
1974
Listing Agency:
Realty One Group
(623) 236-1414
Listed By:
The Carin Nguyen Real Estate Network
(602) 832-7005
Source:
Azhomesold
Added: Oct 16
Last Checked: Oct 16 at 2:04PM
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 Realty One Group
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Investment Insights
Based on property information with market context.
This 2-bedroom, 2-bath residence has an open-concept layout, updated flooring, cabinetry and countertops, and fresh interior paint. A private balcony extends the living space. The building lobby has also been renovated. The property was built in 1974.
The residence is within the guard-gated Scottsdale Shadows community. Shared amenities include three pools, a spa, tennis courts, a private 9-hole golf course, a fitness center, and an art studio. HOA fees cover A/C, heating, water, sewer, trash, and exterior maintenance.
The address is 7920 E Camelback Rd #508 in Scottsdale. Scottsdale Fashion Square, Scottsdale Waterfront, dining, shopping, entertainment, and Spring Training facilities are described as minutes away.
The residence is within the guard-gated Scottsdale Shadows community. Shared amenities include three pools, a spa, tennis courts, a private 9-hole golf course, a fitness center, and an art studio. HOA fees cover A/C, heating, water, sewer, trash, and exterior maintenance.
The address is 7920 E Camelback Rd #508 in Scottsdale. Scottsdale Fashion Square, Scottsdale Waterfront, dining, shopping, entertainment, and Spring Training facilities are described as minutes away.
Key Highlights
- 2‑bedroom, 2‑bath residence with a private balcony
- Updated flooring, cabinetry, countertops, and interior paint
- Guard‑gated Scottsdale Shadows community
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,885
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$277,700
$277.7K
Cap Rate 7%
$198,357
$198.4K
Cap Rate 9%
$154,278
$154.3K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$26.4K $21.96/SF
− Vacancy
−$1.1K −$0.92/SF
EGI
$25.2K $21.04/SF
− OpEx
−$11.4K −$9.47/SF
NOI
$13.9K $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%
$277,700
Cap Rate 7%
$198,357
Cap Rate 9%
$154,278
Alternative Uses
Best Use
Apartment 5plus
$198.4K
$173.6K – $231.4K
NOI $13,885 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$393.9K
$344.7K – $459.6K
NOI $27,575 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,238
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - The two-bedroom residence features an open layout, a private balcony, and access to shared community amenities.
Where is this residential income property located?
The property is located at 7920 E Camelback Rd #508 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $264,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath residence with a private balcony; Updated flooring, cabinetry, countertops, and interior paint; Guard‑gated Scottsdale Shadows community
