Updated End-Unit Residential Income
For Sale
$505,000
11500 E Cochise Dr #2085, Scottsdale, AZ 85259
Three-bedroom condominium with a split-bedroom layout, attached garage, and private mountain-view balcony.
Property Size1,564 SF
Price / SF$322.89
Days on Market72
Property Features for 11500 E Cochise Dr #2085
General Information
Standard status
Active
Size
1,564 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Amenities
gas fireplace
surround sound speakers
pool
spa
fitness center
clubhouse
billiards
gathering and meeting spaces
dining and entertaining areas
scenic walking paths
community barbecue and seating areas
Building Details
Year Built
2001
Listing Agency:
West Usa Realty
(480) 948-5554
Listed By:
House of AZ
(602) 353-7034
Source:
Houseofarizona
Added: Aug 11
Changed: Oct 19
Last Checked: Oct 20 at 9:11PM
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 West Usa Realty
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Investment Insights
Based on property information with market context.
This updated end-unit condominium at Mirage Crossing offers 3 bedrooms, 2 bathrooms, and an attached one-car garage. The split-bedroom arrangement separates the primary suite from two secondary bedrooms. Interior features include an open great room with a gas fireplace, remodeled kitchen with granite countertops, contemporary cabinetry, stainless steel appliances, and a peninsula breakfast bar. The primary bathroom includes a step-in shower, double vanity, walk-in closet, and linen storage. Wood-look laminate flooring, modern lighting, neutral paint, a dedicated laundry room, and living room surround sound speakers complete the interior. The garage provides direct home access along with built-in cabinets and overhead storage.
A south-facing private balcony captures mountain views. The home is located within the gated Mirage Crossing community, where residents have access to a heated lagoon-style pool and spa, fitness center, clubhouse, walking paths, barbecue areas, and outdoor seating. A new air conditioning system was installed in May 2026 and includes a transferable warranty. The property was built in 2001.
A south-facing private balcony captures mountain views. The home is located within the gated Mirage Crossing community, where residents have access to a heated lagoon-style pool and spa, fitness center, clubhouse, walking paths, barbecue areas, and outdoor seating. A new air conditioning system was installed in May 2026 and includes a transferable warranty. The property was built in 2001.
Key Highlights
- Updated end‑unit condominium with 3 bedrooms and 2 bathrooms
- Remodeled kitchen with granite counters, stainless appliances, and peninsula breakfast bar
- Primary suite includes renovated bathroom, step‑in shower, double vanity, and walk‑in closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,097
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$361,940
$361.9K
Cap Rate 7%
$258,529
$258.5K
Cap Rate 9%
$201,078
$201.1K
Market Conditions
NOI Build-Up for 1,564 SF
Gross rent
$34.3K $21.96/SF
− Vacancy
−$1.4K −$0.92/SF
EGI
$32.9K $21.04/SF
− OpEx
−$14.8K −$9.47/SF
NOI
$18.1K $11.57/SF
Area
Scottsdale, AZ
Vacancy
4.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$361,940
Cap Rate 7%
$258,529
Cap Rate 9%
$201,078
Alternative Uses
Best Use
Apartment 5plus
$258.5K
$226.2K – $301.6K
NOI $18,097 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$513.4K
$449.2K – $599.0K
NOI $35,939 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
673
Businesses Nearby
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Business Placement
Demographics for 85259, AZ
22,548
Population
10,864
Households
2.1
Avg Household Size
51
Median Age
69%
College-Educated
99%
High-School Grad
20.7 sq mi
ZIP Area
1,089
Density / Sq Mi
$145,574
Median Household Income
$80,502
Median Earnings
$1,769
Median Rent
$956,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom condominium with a split-bedroom layout, attached garage, and private mountain-view balcony.
Where is this residential income property located?
The property is located at 11500 E Cochise Dr #2085 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $505,000.
What are key features of this property?
This property features: Updated end‑unit condominium with 3 bedrooms and 2 bathrooms; Remodeled kitchen with granite counters, stainless appliances, and peninsula breakfast bar; Primary suite includes renovated bathroom, step‑in shower, double vanity, and walk‑in closet
