Two-Bedroom
For Sale
$265,000
1065 W 1ST Street #106, Tempe, AZ 85281
The residence includes a covered patio, fireplace, and kitchen finished with quartz counters and stainless steel appliances.
Property Size751 SF
Price / SF$352.86
Days on Market40
Property Features for 1065 W 1ST Street #106
General Information
Standard status
Active
Size
751 SF
Property subtype
Apartment
Site & Location
Neighborhood
River Run Condominiums
Highway Access
Yes
Additional Details
Multifamily Units
1
Building Details
Year Built
1986
Listing Agency:
Berkshire Hathaway Homeservices Arizona Properties
Listed By:
Kathryn Thomas
(480) 505-6300
Source:
Kathrynthomas
Added: Sep 24
Changed: Nov 1
Last Checked: Nov 1 at 12:31AM
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 Berkshire Hathaway Homeservices Arizona Properties
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Investment Insights
Based on property information with market context.
This 751-square-foot condominium was built in 1986 and has two bedrooms. The living room opens through sliding glass doors to a covered patio, while the kitchen features stainless steel appliances, quartz counters, tile backsplash, and cabinetry. The primary bedroom has outdoor access, a closet, and a private bathroom with a shower and tub.
The property is in Tempe, with access to ASU, Loop 202, Tempe Marketplace, dining, shopping, and entertainment. Community amenities are also available.
The property is in Tempe, with access to ASU, Loop 202, Tempe Marketplace, dining, shopping, and entertainment. Community amenities are also available.
Key Highlights
- Two‑bedroom condominium with 751 square feet
- Built in 1986
- Covered patio accessed from the living room
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.
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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 - The residence includes a covered patio, fireplace, and kitchen finished with quartz counters and stainless steel appliances.
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 751 square feet; Built in 1986; Covered patio accessed from the living room
