Gated Two-Bedroom
For Sale
$260,000
10136 E Southern Avenue 2046, Mesa, AZ 85209
The residence features a private patio, an attached garage, and in-unit laundry.
Property Size1,107 SF
Days on Market9
Property Features for 10136 E Southern Avenue 2046
General Information
Standard status
Active
Size
1,107 SF
Property subtype
Apartment
Additional Details
Furnished
No
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,543
Amenities
gated community
pool
spa
clubhouse
gym
in-unit washer/dryer
storage space
private patio
Building Details
Building Size
1,107 SF
Year Built
2007
Listing Agency:
Real Broker
Listed By:
Gina M Peterson
(480) 721-8484
Source:
Gillettegroupaz
Added: Oct 24
Changed: Oct 31
Last Checked: Nov 1 at 1:13PM
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 Real Broker
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Investment Insights
Based on property information with market context.
Built in 2007, this gated condominium has two bedrooms and two full bathrooms. The layout includes a formal dining area and an open kitchen, with wood flooring through the main living spaces and carpet in the bedrooms. An in-unit washer and dryer, storage space, private patio, and garage are also included.
Community amenities include a spa, clubhouse, and gym. Shopping, dining, entertainment, and freeway access are nearby.
Community amenities include a spa, clubhouse, and gym. Shopping, dining, entertainment, and freeway access are nearby.
Key Highlights
- Two bedrooms and two full bathrooms
- Gated condominium built in 2007
- Formal dining area and open kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,272
Cap Rate
4.34%
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 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$367.6K
$321.6K – $428.8K
NOI $25,730 @ 7.0% cap · market cap 9.90%
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
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 - The residence features a private patio, an attached garage, and in-unit laundry.
Where is this residential income property located?
The property is located at 10136 E Southern Avenue 2046 Mesa, AZ.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Two bedrooms and two full bathrooms; Gated condominium built in 2007; Formal dining area and open kitchen
