Top-Floor Residential Income
For Sale
$199,000
920 E DEVONSHIRE Avenue 2006, Phoenix, AZ 85014
Corner residence with tandem garage, mountain views, custom finishes, and access to renovated community amenities.
Property Size1,184 SF
Days on Market85
Property Features for 920 E DEVONSHIRE Avenue 2006
General Information
Standard status
Active
Size
1,184 SF
Total Parking Spaces
2
Elevators
Yes
Property subtype
Apartment
Site & Location
Neighborhood
Encanto
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,050
Amenities
clubhouse
business center
pool
fitness center
Building Details
Building Size
1,184 SF
Year Built
2004
Listing Agency:
R.O.I. Properties
Listed By:
Beth Jo Zeitzer · License #BR044331000
(602) 319-1326
Source:
Alexiabertsatos
Added: Aug 11
Changed: Oct 31
Last Checked: Nov 1 at 2:52PM
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 R.O.I. Properties
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This top-floor corner condominium at 920 E Devonshire Avenue #4001 offers two bedrooms, two bathrooms, and a two-car tandem garage. The residence features custom shutters on the windows and sliding patio door, a tiled patio with city and South Mountain views, and custom finishes throughout. A new refrigerator and water heater were installed within the past year, while the air-conditioning unit was replaced in March 2019. The unit is also positioned close to the elevators.
The monthly HOA fee includes water, Cox Internet, and use of the community clubhouse, business center, pool, and fitness center. The clubhouse has been newly renovated. The property is located in Phoenix, with restaurants, bars, parks, and shopping within minutes.
The monthly HOA fee includes water, Cox Internet, and use of the community clubhouse, business center, pool, and fitness center. The clubhouse has been newly renovated. The property is located in Phoenix, with restaurants, bars, parks, and shopping within minutes.
Key Highlights
- Two‑bedroom, two‑bathroom corner unit with a two‑car tandem garage
- Top‑floor residence near the elevators at 920 E Devonshire Avenue #4001
- Tiled patio offers city and South Mountain views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,810
Cap Rate
6.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$276,200
$276.2K
Cap Rate 7%
$197,286
$197.3K
Cap Rate 9%
$153,444
$153.4K
Market Conditions
NOI Build-Up for 1,184 SF
Gross rent
$26.7K $22.56/SF
− Vacancy
−$1.6K −$1.35/SF
EGI
$25.1K $21.21/SF
− OpEx
−$11.3K −$9.54/SF
NOI
$13.8K $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%
$276,200
Cap Rate 7%
$197,286
Cap Rate 9%
$153,444
Alternative Uses
Best Use
Apartment 5plus
$197.3K
$172.6K – $230.2K
NOI $13,810 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$358.6K
$313.8K – $418.4K
NOI $25,105 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,275
Businesses Nearby
Explore this area
Business Placement
Demographics for 85014, AZ
26,381
Population
14,778
Households
1.8
Avg Household Size
37
Median Age
43%
College-Educated
90%
High-School Grad
4.0 sq mi
ZIP Area
6,595
Density / Sq Mi
$69,995
Median Household Income
$48,465
Median Earnings
$1,339
Median Rent
$447,500
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - Corner residence with tandem garage, mountain views, custom finishes, and access to renovated community amenities.
Where is this residential income property located?
The property is located at 920 E DEVONSHIRE Avenue 2006 Phoenix, AZ.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom corner unit with a two‑car tandem garage; Top‑floor residence near the elevators at 920 E Devonshire Avenue #4001; Tiled patio offers city and South Mountain views
