Updated Residential Income
1340 N RECKER Road 254, Mesa, AZ 85205
For Sale
$230,000
The condo features refreshed kitchen and bath finishes, included laundry appliances, and access to a community pool and spa.
Property Size903 SF
Price / SF$254.71
Days on Market163
Property Features for 1340 N RECKER Road 254
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
pool
spa
Building Details
Building Size
Year Built
Listing Agency:
HomeSmart
Listed By:
Jeffrey T Raskin · License AZ BR520366000
(602) 206-7200
Source:
Bvoluxury
Added: Jun 1
Changed: Nov 10
Last Checked: Nov 9 at 12:11PM
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 HomeSmart
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Investment Insights
Based on property information with market context.
This 903-square-foot condo, built in 1986, has updated flooring, kitchen and bathroom cabinetry, and granite countertops. The kitchen includes a stove and microwave, while the primary bathroom has a custom walk-in shower with replacement faucets and showerheads. Freshly painted doors and an air-conditioning unit installed in 2021 are also noted, along with a washer and dryer included with the property.
The home is within a gated community with a pool and spa.
The home is within a gated community with a pool and spa.
Key Highlights
- 903‑square‑foot condo built in 1986
- Kitchen and bathroom cabinetry updated with granite countertops
- Custom walk‑in shower, new faucets, and showerheads in the primary bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,062
Cap Rate
3.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$141,240
$141.2K
Cap Rate 7%
$100,886
$100.9K
Cap Rate 9%
$78,467
$78.5K
Market Conditions
NOI Build-Up for 903 SF
Gross rent
$13.8K $15.24/SF
− Vacancy
−$922 −$1.02/SF
EGI
$12.8K $14.22/SF
− OpEx
−$5.8K −$6.40/SF
NOI
$7.1K $7.82/SF
Area
Mesa, AZ
Vacancy
6.70%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$141,240
Cap Rate 7%
$100,886
Cap Rate 9%
$78,467
Alternative Uses
Best Use
Apartment 5plus
$100.9K
$88.3K – $117.7K
NOI $7,062 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$247.5K
$216.6K – $288.8K
NOI $17,326 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
485
Businesses Nearby
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Business Placement
Demographics for 85205, AZ
44,137
Population
23,473
Households
1.9
Avg Household Size
48
Median Age
30%
College-Educated
94%
High-School Grad
10.1 sq mi
ZIP Area
4,370
Density / Sq Mi
$71,294
Median Household Income
$46,378
Median Earnings
$1,363
Median Rent
$301,200
Median Home Value
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Market
Properties on Market for Residential income properties in Mesa
Frequently Asked Questions
What type of property is this?
Residential income property - The condo features refreshed kitchen and bath finishes, included laundry appliances, and access to a community pool and spa.
Where is this residential income property located?
The property is located at 1340 N RECKER Road 254 Mesa, AZ.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: 903‑square‑foot condo built in 1986; Kitchen and bathroom cabinetry updated with granite countertops; Custom walk‑in shower, new faucets, and showerheads in the primary bathroom
