Ground-Floor Residential Income
For Sale
$495,000
11640 N Tatum Boulevard 1102, Phoenix, AZ 85028
The furnished residence includes a wraparound covered patio, private storage, and two garage parking spaces.
Property Size1,335 SF
Price / SF$370.79
Days on Market126
Property Features for 11640 N Tatum Boulevard 1102
General Information
Standard status
Active
Size
1,335 SF
Total Parking Spaces
2
Elevators
Yes
Property subtype
Apartment
Site & Location
Neighborhood
Paradise Valley
Highway Access
Yes
Additional Details
Furnished
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,833
Amenities
Resort Style Clubhouse
Large Heated Pool and Spa
BBQs
Fitness Center
Abundant Landscaping
Walking-Biking-Hiking Trails
Building Details
Building Size
1,335 SF
Year Built
2007
Listing Agency:
Coldwell Banker Northland
Listed By:
John LaMarr
(928) 830-6162
Source:
Arizonaproperrealestate
Added: Jun 26
Changed: Oct 26
Last Checked: Oct 26 at 3:46PM
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 Coldwell Banker Northland
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Investment Insights
Based on property information with market context.
This 1,335-square-foot, ground-floor condominium was built in 2007 and has two bedrooms, two bathrooms, and a split floor plan. The great room features high ceilings, a fireplace, and an adjoining office area. The kitchen has granite countertops, GE stainless steel appliances, and a breakfast bar. The primary suite includes a walk-in closet, double sinks, granite countertops, and a garden tub. A full-size stacked washer and dryer, private storage room, and wraparound covered patio are also included. The residence is sold furnished.
The gated Aderra community is near Stonecreek Golf Club, with access to the Hwy-51 freeway. Community amenities include a clubhouse, heated pool and spa, fitness center, barbecue areas, underground parking with elevator access, and walking, biking, and hiking trails. Two garage parking spaces, 204 and 205, are included near the elevators.
The gated Aderra community is near Stonecreek Golf Club, with access to the Hwy-51 freeway. Community amenities include a clubhouse, heated pool and spa, fitness center, barbecue areas, underground parking with elevator access, and walking, biking, and hiking trails. Two garage parking spaces, 204 and 205, are included near the elevators.
Key Highlights
- 1,335‑square‑foot condominium with 2 bedrooms and 2 bathrooms
- Ground‑floor end unit with a wraparound covered patio
- Sold furnished; built in 2007
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,571
Cap Rate
3.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$311,420
$311.4K
Cap Rate 7%
$222,443
$222.4K
Cap Rate 9%
$173,011
$173.0K
Market Conditions
NOI Build-Up for 1,335 SF
Gross rent
$30.1K $22.56/SF
− Vacancy
−$1.8K −$1.35/SF
EGI
$28.3K $21.21/SF
− OpEx
−$12.7K −$9.54/SF
NOI
$15.6K $11.66/SF
Area
Phoenix, AZ
Vacancy
6.00%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$311,420
Cap Rate 7%
$222,443
Cap Rate 9%
$173,011
Alternative Uses
Best Use
Apartment 5plus
$222.4K
$194.6K – $259.5K
NOI $15,571 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$404.4K
$353.8K – $471.8K
NOI $28,307 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
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Who owns this building?
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,148
Businesses Nearby
Explore this area
Business Placement
Demographics for 85028, AZ
19,888
Population
8,642
Households
2.3
Avg Household Size
48
Median Age
56%
College-Educated
97%
High-School Grad
6.9 sq mi
ZIP Area
2,882
Density / Sq Mi
$119,436
Median Household Income
$69,819
Median Earnings
$1,832
Median Rent
$583,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The furnished residence includes a wraparound covered patio, private storage, and two garage parking spaces.
Where is this residential income property located?
The property is located at 11640 N Tatum Boulevard 1102 Phoenix, AZ.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 1,335‑square‑foot condominium with 2 bedrooms and 2 bathrooms; Ground‑floor end unit with a wraparound covered patio; Sold furnished; built in 2007
