2-Bedroom Condo Income
For Sale
$265,000
10136 E Southern Ave #2039, Mesa, AZ 85209
Gated community condo with private outdoor space, attached convenience features, and access to shared recreational amenities.
Property Size1,107 SF
Price / SF$239.39
Days on Market52
Property Features for 10136 E Southern Ave #2039
General Information
Standard status
Active
Size
1,107 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
pool
spa
playground
fitness center
Building Details
Year Built
2007
Listing Agency:
A.Z. & Associates
(623) 776-5540
Listed By:
House of AZ
(602) 353-7034
Source:
Houseofarizona
Added: Sep 12
Changed: Nov 1
Last Checked: Nov 1 at 5:46AM
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 A.Z. & Associates
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Investment Insights
Based on property information with market context.
This residential income property is a 2-bedroom, 2-bath condominium at 10136 E Southern Ave #2039 in Mesa. Built in 2007, the approximately 1,107-square-foot unit has an open layout with vaulted ceilings, a kitchen with granite counters and stainless steel appliances, and a breakfast bar adjoining the dining area. The split-bedroom design includes a primary suite with a walk-in closet and dual-sink private bath, along with a second bedroom and full guest bath. A covered private balcony, interior laundry area, and detached one-car garage add to the unit’s functionality.
The home is located within the gated Coyote Landing community, which includes a pool, spa, playground, and fitness center. Water, trash, and sewer are included in the HOA fees. Shopping, dining, entertainment, and freeway access are located nearby.
The home is located within the gated Coyote Landing community, which includes a pool, spa, playground, and fitness center. Water, trash, and sewer are included in the HOA fees. Shopping, dining, entertainment, and freeway access are located nearby.
Key Highlights
- 2‑bedroom, 2‑bath condominium with approximately 1,107 sq. ft.
- Built in 2007 with vaulted ceilings and an open interior layout
- Kitchen includes granite countertops, stainless steel appliances, breakfast bar, and adjoining dining area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,272
Cap Rate
4.25%
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 4.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$367.6K
$321.6K – $428.8K
NOI $25,730 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Yes
Utilities to site
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 - Gated community condo with private outdoor space, attached convenience features, and access to shared recreational amenities.
Where is this residential income property located?
The property is located at 10136 E Southern Ave #2039 Mesa, AZ.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath condominium with approximately 1,107 sq. ft.; Built in 2007 with vaulted ceilings and an open interior layout; Kitchen includes granite countertops, stainless steel appliances, breakfast bar, and adjoining dining area
