Updated Residential Income
For Sale
$299,000
8805 S 48th St #1, Phoenix, AZ 85044
Two-bedroom residence with quartz counters, stainless appliances, private backyard, and access to four community pools.
Property Size976 SF
Price / SF$306.35
Days on Market74
Property Features for 8805 S 48th St #1
General Information
Standard status
Active
Size
976 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Ahwatukee Foothills
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Amenities
private backyard
community pools
walking and biking paths
dog park
Building Details
Year Built
1985
Listing Agency:
Grigg's Group Powered By The Altman Brothers
(480) 788-0929
Listed By:
The Garcia Group
(480) 771-2303
Source:
Beckygarcia
Added: Aug 16
Changed: Oct 27
Last Checked: Oct 28 at 8:03AM
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 Grigg's Group Powered By The Altman Brothers
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Investment Insights
Based on property information with market context.
This updated residential income property is a two-bedroom, 1.5-bath residence built in 1985. Its open interior includes quartz countertops, stainless steel appliances, tile flooring, and a defined dining area. The primary suite provides two closets, including a walk-in closet, while the private backyard features new turf. A water softener is also included.
Community amenities include four pools, walking and biking paths, and a dog park. Water, sewer, and trash are included through the HOA. The property is located near South Mountain Preserve, golf, shopping, dining, and freeway access, providing convenient access to a range of nearby recreational, retail, and transportation options.
Community amenities include four pools, walking and biking paths, and a dog park. Water, sewer, and trash are included through the HOA. The property is located near South Mountain Preserve, golf, shopping, dining, and freeway access, providing convenient access to a range of nearby recreational, retail, and transportation options.
Key Highlights
- Two‑bedroom, 1.5‑bath residence built in 1985
- Quartz countertops, stainless steel appliances, and tile flooring
- Primary suite includes two closets, including a walk‑in closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,384
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,680
$227.7K
Cap Rate 7%
$162,629
$162.6K
Cap Rate 9%
$126,489
$126.5K
Market Conditions
NOI Build-Up for 976 SF
Gross rent
$22.0K $22.56/SF
− Vacancy
−$1.3K −$1.35/SF
EGI
$20.7K $21.21/SF
− OpEx
−$9.3K −$9.54/SF
NOI
$11.4K $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 Rate 5%
$227,680
Cap Rate 7%
$162,629
Cap Rate 9%
$126,489
Alternative Uses
Best Use
Apartment 5plus
$162.6K
$142.3K – $189.7K
NOI $11,384 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$295.6K
$258.7K – $344.9K
NOI $20,695 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Explore this area
Business Placement
Demographics for 85044, AZ
39,559
Population
18,817
Households
2.1
Avg Household Size
41
Median Age
50%
College-Educated
97%
High-School Grad
16.5 sq mi
ZIP Area
2,398
Density / Sq Mi
$96,374
Median Household Income
$58,220
Median Earnings
$1,798
Median Rent
$437,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom residence with quartz counters, stainless appliances, private backyard, and access to four community pools.
Where is this residential income property located?
The property is located at 8805 S 48th St #1 Phoenix, AZ.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑bedroom, 1.5‑bath residence built in 1985; Quartz countertops, stainless steel appliances, and tile flooring; Primary suite includes two closets, including a walk‑in closet
