Ground-Level Residential Income
For Sale
$175,000
8802 N 8TH Street A2, Phoenix, AZ 85020
Two-bedroom apartment with a private patio, tile flooring, in-unit laundry, and access to a community pool and park.
Property Size902 SF
Days on Market64
Property Features for 8802 N 8TH Street A2
General Information
Standard status
Active
Size
902 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$506
Building Details
Building Size
902 SF
Year Built
1981
Listing Agency:
West USA Realty
Listed By:
Rafael Escobedo Jr
(623) 251-8086
Source:
Alexiabertsatos
Added: Jul 17
Changed: Sep 7
Last Checked: Sep 16 at 10:38PM
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 West USA Realty
Investment Insights
Based on property information with market context.
This ground-level apartment unit includes 2 bedrooms and 2 bathrooms within Continental Plaza. The interior features a living room with blinds and tile flooring, plus a kitchen equipped with flat-panel wood cabinetry, built-in appliances, a pantry, and a two-tier peninsula with breakfast bar seating. The primary bedroom offers a private bathroom, stacked washer and dryer, and walk-in closet.
Built in 1981, the unit also includes a front patio. Community amenities include a pool and park, with mountain views noted from the property. The address is 8802 N 8TH Street A2 in Phoenix, Arizona.
Built in 1981, the unit also includes a front patio. Community amenities include a pool and park, with mountain views noted from the property. The address is 8802 N 8TH Street A2 in Phoenix, Arizona.
Key Highlights
- Ground‑level 2‑bedroom, 2‑bath apartment unit
- Front patio and durable tile flooring
- Kitchen with built‑in appliances, pantry, and breakfast bar
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
$10,520
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
6.01%
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%
$210,400
$210.4K
Cap Rate 7%
$150,286
$150.3K
Cap Rate 9%
$116,889
$116.9K
Market Conditions
NOI Build-Up for 902 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
$20.3K $22.56/SF
− Vacancy
−$1.2K −$1.35/SF
EGI
$19.1K $21.21/SF
− OpEx
−$8.6K −$9.54/SF
NOI
$10.5K $11.66/SF
Area
Phoenix, AZ
Vacancy
6.00%
Lease Rate
$22.56 /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%
$210,400
Cap Rate 7%
$150,286
Cap Rate 9%
$116,889
Alternative Uses
Best Use
Apartment 5plus
$150.3K
$131.5K – $175.3K
NOI $10,520 @ 7.0% cap · market cap 6.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$273.2K
$239.1K – $318.8K
NOI $19,126 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,837
Businesses Nearby
Explore this area
Business Placement
Demographics for 85020, AZ
34,534
Population
18,231
Households
1.9
Avg Household Size
43
Median Age
43%
College-Educated
90%
High-School Grad
8.8 sq mi
ZIP Area
3,924
Density / Sq Mi
$78,412
Median Household Income
$48,230
Median Earnings
$1,389
Median Rent
$400,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom apartment with a private patio, tile flooring, in-unit laundry, and access to a community pool and park.
Where is this residential income property located?
The property is located at 8802 N 8TH Street A2 Phoenix, AZ.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Ground‑level 2‑bedroom, 2‑bath apartment unit; Front patio and durable tile flooring; Kitchen with built‑in appliances, pantry, and breakfast bar
