Residential Income Property with
For Sale
$265,000
1065 W 1ST Street 106, Tempe, AZ 85281
This two-bedroom residence features a fireplace, stainless steel appliances and quartz kitchen counters.
Property Size751 SF
Days on Market13
Property Features for 1065 W 1ST Street 106
General Information
Standard status
Active
Size
751 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,015
Building Details
Building Size
751 SF
Year Built
1986
Listing Agency:
HomeSmart
Listed By:
Fernando Valle · License #SA645075000
(623) 680-6430
Source:
Alexiabertsatos
Added: Sep 24
Changed: Sep 29
Last Checked: Oct 5 at 11:55PM
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 HomeSmart
Investment Insights
Based on property information with market context.
Built in 1986, this two-bedroom condominium has a living room with a fireplace and sliding doors opening to a covered patio. The kitchen includes stainless steel appliances, cabinetry, tile backsplash and quartz counters. The primary bedroom has outdoor access, a closet and a private bathroom with a shower and tub.
The property offers access to community amenities and is near ASU, Tempe Marketplace, dining, shopping and entertainment. Loop 202 is also accessible from the area.
The property offers access to community amenities and is near ASU, Tempe Marketplace, dining, shopping and entertainment. Loop 202 is also accessible from the area.
Key Highlights
- Two‑bedroom condominium with a covered patio
- Living room fireplace and sliding glass doors
- Kitchen with stainless steel appliances, tile backsplash and quartz counters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,179
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$203,580
$203.6K
Cap Rate 7%
$145,414
$145.4K
Cap Rate 9%
$113,100
$113.1K
Market Conditions
NOI Build-Up for 751 SF
Gross rent
$19.6K $26.16/SF
− Vacancy
−$1.1K −$1.52/SF
EGI
$18.5K $24.64/SF
− OpEx
−$8.3K −$11.09/SF
NOI
$10.2K $13.55/SF
Area
Tempe, AZ
Vacancy
5.80%
Lease Rate
$26.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$203,580
Cap Rate 7%
$145,414
Cap Rate 9%
$113,100
Alternative Uses
Best Use
Apartment 5plus
$145.4K
$127.2K – $169.7K
NOI $10,179 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$236.2K
$206.6K – $275.5K
NOI $16,531 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
867
Businesses Nearby
Explore this area
Business Placement
Demographics for 85281, AZ
69,218
Population
32,475
Households
2.1
Avg Household Size
26
Median Age
49%
College-Educated
91%
High-School Grad
13.3 sq mi
ZIP Area
5,204
Density / Sq Mi
$59,084
Median Household Income
$32,805
Median Earnings
$1,531
Median Rent
$364,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - This two-bedroom residence features a fireplace, stainless steel appliances and quartz kitchen counters.
Where is this residential income property located?
The property is located at 1065 W 1ST Street 106 Tempe, 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: Two‑bedroom condominium with a covered patio; Living room fireplace and sliding glass doors; Kitchen with stainless steel appliances, tile backsplash and quartz counters
