4728 E BELLEVIEW Street, Phoenix, AZ 85008, Phoenix, 85008 - 2 bed, 1 bath
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Phoenix, AZ 85008
This Turnkey Income-Generating Asset is listed at $235,000, offering a high-yield entry into the Phoenix market. While positioned above the $218,329 Fair Market Value, the valuation is supported by a 7% Cap Rate and a Section 8 tenant generating $1,743 monthly. The property holds an Excellent Condition Rating following an extensive remodel featuring stainless steel appliances, new flooring, and energy-efficient windows. Located in a gated community near Mill Ave and Papago Golf Club, it offers strong lifestyle and rental appeal. This is a strategic choice for Buy-and-Hold Investors or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4728 E BELLEVIEW Street Subject | $235,000* List Price | 2 | 1 | 880 | $248 | - |
A 4760 E MORELAND Street Sold | $200,000 | 2 | 1 | 968 | $207 | 0.1 mi |
B 4738 E PORTLAND Street Sold | $212,000 | 2 | 1 | 896 | $237 | 0.1 mi |
C 4438 E BELLEVIEW Street Sold | $234,900 | 2 | 2 | 1,104 | $213 | 0.3 mi |
D 4756 E MORELAND Street Active | $229,000 List Price | 2 | 1 | 880 | $260 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although built in 1972, the property has undergone an extensive recent renovation within the last 5 years. It features all-new kitchen cabinets, stainless steel appliances, modern flooring, new windows, and updated electrical outlets and fixtures, meeting the criteria for excellent condition with virtually new components throughout.
The property is a high-performing asset with a 7% cap rate and a long-term Section 8 tenant in place at $1,743/month, offering immediate and stable cash flow for investors.
The unit features comprehensive upgrades including new flooring, kitchen cabinets, stainless steel appliances, and energy-efficient windows, reducing the need for near-term capital expenditures.
Ideally situated near the I-143 and Loop 202 interchange and just minutes from Mill Avenue, the property offers exceptional accessibility to major employment hubs and entertainment districts.
The assigned elementary and high schools both carry low ratings of 3, which may limit the property's appeal to families and potentially impact long-term resale value.
Built in 1972, the 2-bedroom layout includes only one bathroom, which can be a competitive disadvantage compared to more modern multi-bathroom configurations in the same price bracket.
Long term lease! $1743 monthly! Section 8. Performing at a 7% cap rate. Remodeled Condo - VA & Conventional Approved! This beautifully remodeled condo offers everything you're looking for in a prime location! Featuring brand new flooring with upgraded underlayment, all-new kitchen cabinets, stainless steel appliances, modern sinks, vanities, fans, electrical outlets, and fresh paint throughout. New windows provide energy efficiency and natural light. Location is everything! You're just a 4-minute drive to Mill Ave, a quarter mile to I-143 & the 202, and close to fantastic hiking, biking, and vibrant nightlife. Right across from Brunson Lee Elementary School and next to the Papago Golf Club. Plus, the community is gated for extra security and privacy.
No exterior & parking available.
Grades PK-6 • 0.1 mi
Grades 9-12 • 3.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 1.0 | 2.0 | 13% |
| Square foot | 880 | 1,118 | 4% |
| Lot Size | 834 | 1,220 | 33% |
| Price | $235.0K | $281.0K | 46% |
| Price per sq ft | $267 | $241 | 67% |
| Built year | 1972 | 1980 | 25% |
| HOA | $305 | $194 | 83% |
| Days on market | 112 | 938 | 13% |
Jan 4, 2026
$235,000
Initial Listing