Second-Floor Condominium with
For Sale
$279,000
16255 E CHIQUITA Drive 18, Fountain Hills, AZ 85268
The two-bedroom, two-bath residence includes a carport and access to a heated pool and spa.
Property Size1,120 SF
Price / SF$249.11
Days on Market155
Property Features for 16255 E CHIQUITA Drive 18
General Information
Standard status
Active
Size
1,120 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$940
Amenities
pool
spa
Building Details
Building Size
1,120 SF
Year Built
1979
Listing Agency:
MCO Realty
Listed By:
Patricia A Kenney · License #BR106531000
(480) 216-4948
Source:
Sonoranlifestyle
Added: Jun 1
Changed: Oct 31
Last Checked: Oct 31 at 2:27PM
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 MCO Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,120-square-foot condominium was built in 1979 and is situated on the second floor. It has two bedrooms, two bathrooms, a front balcony with mountain views, and a laundry area beside the balcony. The main living space faces shared green space, and a carport is included.
Community amenities include a heated pool and spa. Shopping, restaurants, and Fountain Park are nearby.
Community amenities include a heated pool and spa. Shopping, restaurants, and Fountain Park are nearby.
Key Highlights
- 1,120‑square‑foot, two‑bedroom, two‑bath condominium
- Second‑floor residence with a front balcony and mountain views
- Laundry area located beside the balcony
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,640
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$252,800
$252.8K
Cap Rate 7%
$180,571
$180.6K
Cap Rate 9%
$140,444
$140.4K
Market Conditions
NOI Build-Up for 1,120 SF
Gross rent
$24.2K $21.60/SF
− Vacancy
−$1.2K −$1.08/SF
EGI
$23.0K $20.52/SF
− OpEx
−$10.3K −$9.23/SF
NOI
$12.6K $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 Rate 5%
$252,800
Cap Rate 7%
$180,571
Cap Rate 9%
$140,444
Alternative Uses
Best Use
Apartment 5plus
$180.6K
$158.0K – $210.7K
NOI $12,640 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$346.4K
$303.1K – $404.2K
NOI $24,251 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
916
Businesses Nearby
Explore this area
Business Placement
Demographics for 85268, AZ
24,031
Population
13,429
Households
1.8
Avg Household Size
61
Median Age
50%
College-Educated
97%
High-School Grad
20.5 sq mi
ZIP Area
1,172
Density / Sq Mi
$105,288
Median Household Income
$55,054
Median Earnings
$1,781
Median Rent
$576,700
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - The two-bedroom, two-bath residence includes a carport and access to a heated pool and spa.
Where is this residential income property located?
The property is located at 16255 E CHIQUITA Drive 18 Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: 1,120‑square‑foot, two‑bedroom, two‑bath condominium; Second‑floor residence with a front balcony and mountain views; Laundry area located beside the balcony
