7162 57Th AveGlendale, AZ 85301

Property Details for 7162 57Th Ave

Year built

1954

Construction

CONCRETE

Lot size

0.16 AC

Property size (Sq ft)

2,418 SF

Zone code

PAD

Property type

Office properties

Property subtype

Office buildings

APN

147-25-132

APU

14725132

Description

Exceptional investment opportunity: This fully occupied, renovated triplex in Glendale, Arizona's historic Catlin Court district offers a compelling return. The 2,495 square foot building, constructed in 1954 and extensively renovated in 2024, boasts three units, each with updated kitchens and bathrooms. Recent improvements include new copper plumbing, upgraded electrical systems, and handicapped-accessible bathrooms and entrances. The property features new interior paint and irrigation sprinklers. The roof is in good condition. Situated on a 7,000 square foot lot (APN 147-25-132), this property benefits from an R3-5 zoning designation. The building's strong financial performance is reflected in its 100% occupancy rate, generating a Net Operating Income (NOI) of $36,294 and a 4.84% cap rate. The asking price is $750,000 ($250,000 per unit), representing a price per square foot of $300.60. The property's location within the walkable Catlin Court shopping district, near the Westgate entertainment complex, Cardinal Stadium, concert venues, and a new casino, enhances its appeal. A planned nearby condo development further strengthens the area's urban walkable environment. Originally zoned for "live-work," the property's current residential configuration provides a stable and attractive investment.

• CAP approach

  CAP return

  Valuation

  6%

  $456,471

  6.5%

  $421,358

  7%

  $391,261

• Comparable approach

  Method

  Valuation

  Relative Method

  $372,735

  Geo Method

  $372,735

• Alternative Use

  Use

  Valuation

  Residential

  $522,484

  Hospitality

  $478,592

  Educational

  $398,183

  Medical

  $411,877

  Retail

  $619,396

Location Insight

City

Glendale

County

Maricopa

State

Arizona

Latitude

33.542

Longitude

-112.182

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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