Residential Income Property with
For Sale
$274,500
10136 E Southern Avenue #1053, Mesa, AZ 85209
Ground-level condominium includes wider entryways, updated bathrooms, and a garage for storage.
Property Size1,107 SF
Days on Market72
Property Features for 10136 E Southern Avenue #1053
General Information
Standard status
Active
Size
1,107 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
garage
patio
Building Details
Building Size
1,107 SF
Year Built
2007
Stories
2
Listing Agency:
Cactus Mountain Properties, LLC
Listed By:
Rebecca Quintana
(520) 977-1114
Source:
Southquest.kw
Added: Jul 29
Changed: Oct 1
Last Checked: Oct 7 at 8:57AM
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 Cactus Mountain Properties, LLC
Investment Insights
Based on property information with market context.
This ground-level condominium has an easy-access layout with wider entryways, updated bathrooms, and an oversized patio. A new AC system was installed in 2024, and the garage provides additional storage. The property was built in 2007.
Key Highlights
- Ground‑level condominium with wider entryways
- New AC installed in 2024
- Updated bathrooms and an oversized patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,272
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$225,440
$225.4K
Cap Rate 7%
$161,029
$161.0K
Cap Rate 9%
$125,244
$125.2K
Market Conditions
NOI Build-Up for 1,107 SF
Gross rent
$21.9K $19.80/SF
− Vacancy
−$1.4K −$1.29/SF
EGI
$20.5K $18.51/SF
− OpEx
−$9.2K −$8.33/SF
NOI
$11.3K $10.18/SF
Area
ZIP 85209
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$225,440
Cap Rate 7%
$161,029
Cap Rate 9%
$125,244
Alternative Uses
Best Use
Apartment 5plus
$161.0K
$140.9K – $187.9K
NOI $11,272 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$367.6K
$321.6K – $428.8K
NOI $25,730 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
Explore this area
Business Placement
Demographics for 85209, AZ
44,192
Population
21,921
Households
2
Avg Household Size
44
Median Age
33%
College-Educated
93%
High-School Grad
11.8 sq mi
ZIP Area
3,745
Density / Sq Mi
$80,498
Median Household Income
$46,682
Median Earnings
$1,798
Median Rent
$363,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Ground-level condominium includes wider entryways, updated bathrooms, and a garage for storage.
Where is this residential income property located?
The property is located at 10136 E Southern Avenue #1053 Mesa, AZ.
What is the asking price?
The asking price for this property is $274,500.
What are key features of this property?
This property features: Ground‑level condominium with wider entryways; New AC installed in 2024; Updated bathrooms and an oversized patio
