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    553 W ESPERANZA Avenue Ajo, AZ 85321

    View on Map
    For Sale
    $330,000

    MULTI_FAMILY - Ajo, AZ

    Lot size:
    1.63 Acres
    Added:
    Nov 4, 2024
    Days on Market:
    513
    Last Refresh:
    Apr 1 at 10:06 pm

    Property Features for 553 W ESPERANZA Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    CR4
    Appliances
    Free-Standing Range, Refrigerator
    Standard status
    Active
    APN
    401-55-472-E
    Lot size
    1.63 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    NEW CORNELIA PCL D1 NELY PTN NULL NULL NULL
    TaxAnnualAmount
    2422

    Utilities

    Sewer type
    Public Sewer
    Cooling system
    Ceiling Fan(s)

    Building Details

    Year built
    1944
    Number of units
    10
    Flooring type
    Tile - Ceramic
    Building materials
    Wood Frame, Painted, Stucco, Block
    Roof type
    Metal

    We can help!

    Listing Contact
    Juan Hernandez Borja

    Listing agent Juan Hernandez Borja License #SA678137000

    Listing office eXp Realty 16165 N 83rd Ave Ste 200, Peoria, AZ

    Listing date Nov 4, 2024

    MLS# 6779573 Listing URL

    Copyright © 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Montecito Manor Apartment Complex Investment

    This is an excellent opportunity to invest in the Montecito Manor Apartments, a 10-unit apartment complex. The property is located next to the new Border Patrol Housing and The Curley School, and a short distance from The Plaza. Each unit features two bedrooms, one bathroom, a living room, and an eat-in kitchen. The complex consists of two buildings and a laundry facility, which could be coin-operated for additional income. Situated on a large 1.634-acre parcel in the small town of Ajo, deep in the Sonoran Desert, the property is 43 miles north of the Mexican border, with convenient access to Rocky Point. An additional concrete slab offers potential for creating storage units or covered parking, providing further income opportunities. The property presents multiple options for use as Airbnb, short-term rentals, or long-term rentals.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ajo
    County
    Pima
    State
    Arizona
    Longitude
    -112.868552
    Latitude
    32.37124

    Nearby Similar for Sale

    • $124,000

      Updated Duplex with Mountain Views

      Remodeled duplex in Ajo, AZ with income potential.
      445 N KILBRIGHT Avenue, Ajo, AZ 85321
      View Details
    • $949,000

      Ajo Multifamily Investment Opportunity

      Income-producing 18-unit complex with expansion potential on 5 acres.
      355 S SAHUARO Street, Ajo, AZ 85321
      View Details

    FAQs

    What type of property is this?
    Apartment building - 10-unit apartment complex investment opportunity in Ajo, Arizona.
    Where is this apartment building located?
    The property is located at 553 W ESPERANZA Avenue Ajo, AZ.
    What is the asking price?
    The asking price for this property is $330,000.
    What are key features of this property?
    This property features: Ten‑unit apartment complex offering immediate investment potential.; Large 1.634‑acre parcel provides ample space for expansion or additional amenities.; Proximity to Border Patrol Housing, The Curley School, and The Plaza enhances tenant appeal.
    (623) 255-0013
    We can help!
    Listing Contact
    Juan Hernandez Borja
    Real Estate License ID: SA678137000
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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