Two-Bedroom Multifamily
New
For Sale
$215,000
10833 W Santa Fe Dr, Sun City, AZ 85351
Updated windows and air conditioning support comfortable residential occupancy with pet-friendly use.
Property Size1,221 SF
Price / SF$176.09
Days on Market6
Property Features for 10833 W Santa Fe Dr
General Information
Standard status
Active
Size
1,221 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Amenities
back patio
Building Details
Year Built
1976
Listing Agency:
Sierra Vista Realty, Inc
(480) 442-9868
Listed By:
Cook & Associates Real Estate Advisors
(480) 442-9868
Source:
Viewarizonahomesforsale
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 29 at 8:55AM
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 Sierra Vista Realty, Inc
Investment Insights
Based on property information with market context.
This multifamily property offers a two-bedroom, two-bathroom residential layout with a 1.5-car garage and a private rear patio. Interior improvements include light-colored paint and laminate flooring throughout, while the windows and air-conditioning system have been updated. The property was built in 1976 and is identified as pet friendly. Located at 10833 W Santa Fe Dr in Sun City, Arizona, the home provides a practical configuration for residential use with attached parking and outdoor space.
Key Highlights
- Two‑bedroom, two‑bathroom layout
- 1.5‑car garage included
- Laminate flooring throughout the home
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,780
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$275,600
$275.6K
Cap Rate 7%
$196,857
$196.9K
Cap Rate 9%
$153,111
$153.1K
Market Conditions
NOI Build-Up for 1,221 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$26.4K $21.60/SF
− Vacancy
−$1.3K −$1.08/SF
EGI
$25.1K $20.52/SF
− OpEx
−$11.3K −$9.23/SF
NOI
$13.8K $11.29/SF
Area
Maricopa County, AZ
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$275,600
Cap Rate 7%
$196,857
Cap Rate 9%
$153,111
Alternative Uses
Best Use
Apartment 5plus
$196.9K
$172.3K – $229.7K
NOI $13,780 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$377.7K
$330.5K – $440.6K
NOI $26,438 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,119
Businesses Nearby
Explore this area
Business Placement
Demographics for 85351, AZ
29,795
Population
20,414
Households
1.5
Avg Household Size
73
Median Age
24%
College-Educated
93%
High-School Grad
10.9 sq mi
ZIP Area
2,733
Density / Sq Mi
$50,812
Median Household Income
$29,786
Median Earnings
$1,477
Median Rent
$250,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Updated windows and air conditioning support comfortable residential occupancy with pet-friendly use.
Where is this multifamily property located?
The property is located at 10833 W Santa Fe Dr Sun City, AZ.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom layout; 1.5‑car garage included; Laminate flooring throughout the home
