Residential Income Unit with Pool
For Sale
$179,800
1111 E UNIVERSITY Drive #201, Tempe, AZ 85288
Second-floor residence includes in-unit laundry and an assigned covered parking space.
Property Size631 SF
Days on Market79
Property Features for 1111 E UNIVERSITY Drive #201
General Information
Standard status
Active
Size
631 SF
Total Parking Spaces
1
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Parking per Unit
1
Amenities
pool
spa
workout facility
clubhouse
in-unit washer and dryer
Building Details
Building Size
631 SF
Year Built
1981
Stories
2
Listing Agency:
Golden Bull Realty LLC
Listed By:
Thomas Wang · License #BR652976000
(480) 335-4013
Source:
Southquest.kw
Added: Jul 29
Changed: Oct 11
Last Checked: Oct 14 at 7:52PM
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 Golden Bull Realty LLC
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Investment Insights
Based on property information with market context.
This second-floor residential income unit has one bedroom and one bathroom. The kitchen includes a refrigerator, and a washer and dryer are located in the unit. Vinyl plank flooring was installed in 9/2026.
Each unit in the complex has one assigned covered parking space. Community amenities include a pool, spa, workout facility, and clubhouse. The property was built in 1981 and is within walking distance of ASU's campus.
Each unit in the complex has one assigned covered parking space. Community amenities include a pool, spa, workout facility, and clubhouse. The property was built in 1981 and is within walking distance of ASU's campus.
Key Highlights
- One‑bedroom, one‑bath unit on the second floor
- Vinyl plank flooring installed in 9/2026
- Washer and dryer located in the unit; refrigerator included in the kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,552
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$171,040
$171.0K
Cap Rate 7%
$122,171
$122.2K
Cap Rate 9%
$95,022
$95.0K
Market Conditions
NOI Build-Up for 631 SF
Gross rent
$16.5K $26.16/SF
− Vacancy
−$957 −$1.52/SF
EGI
$15.5K $24.64/SF
− OpEx
−$7.0K −$11.09/SF
NOI
$8.6K $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%
$171,040
Cap Rate 7%
$122,171
Cap Rate 9%
$95,022
Alternative Uses
Best Use
Apartment 5plus
$122.2K
$106.9K – $142.5K
NOI $8,552 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$198.4K
$173.6K – $231.5K
NOI $13,890 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,259
Businesses Nearby
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Business Placement
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor residence includes in-unit laundry and an assigned covered parking space.
Where is this residential income property located?
The property is located at 1111 E UNIVERSITY Drive #201 Tempe, AZ.
What is the asking price?
The asking price for this property is $179,800.
What are key features of this property?
This property features: One‑bedroom, one‑bath unit on the second floor; Vinyl plank flooring installed in 9/2026; Washer and dryer located in the unit; refrigerator included in the kitchen
