End-Unit Residential Income
For Sale
$310,000
16631 E EL LAGO Boulevard #209, Fountain Hills, AZ 85268
Updated kitchen finishes, included appliances, and a balcony distinguish this private residence.
Property Size1,085 SF
Days on Market158
Property Features for 16631 E EL LAGO Boulevard #209
General Information
Standard status
Active
Size
1,085 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
heated pool
Building Details
Building Size
1,085 SF
Year Built
2003
Stories
3
Listing Agency:
Realty ONE Group
Listed By:
Gavin Brill · License #SA697653000
(888) 461-0101
Source:
Vwolpert.kw
Added: May 8
Changed: Oct 11
Last Checked: Oct 11 at 2:43PM
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 Realty ONE Group
Investment Insights
Based on property information with market context.
This 2003 end-unit residence features a spacious primary bedroom, walk-in closet, and balcony with mountain views. Interior updates include Corian kitchen countertops, stainless steel appliances, a deep farmhouse-style sink, subway tile backsplash, under-cabinet lighting, newer carpeting, and neutral paint. All appliances are included.
The unit overlooks a heated community pool, and the building has a community elevator. Fountain Park, shopping, and restaurants are within walking distance in Fountain Hills.
The unit overlooks a heated community pool, and the building has a community elevator. Fountain Park, shopping, and restaurants are within walking distance in Fountain Hills.
Key Highlights
- End‑unit residence with a private setting
- Balcony with direct mountain views
- Overlooks a heated community pool
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,245
Cap Rate
3.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$244,900
$244.9K
Cap Rate 7%
$174,929
$174.9K
Cap Rate 9%
$136,056
$136.1K
Market Conditions
NOI Build-Up for 1,085 SF
Gross rent
$23.4K $21.60/SF
− Vacancy
−$1.2K −$1.08/SF
EGI
$22.3K $20.52/SF
− OpEx
−$10.0K −$9.23/SF
NOI
$12.2K $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%
$244,900
Cap Rate 7%
$174,929
Cap Rate 9%
$136,056
Alternative Uses
Best Use
Apartment 5plus
$174.9K
$153.1K – $204.1K
NOI $12,245 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$335.6K
$293.7K – $391.6K
NOI $23,493 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,289
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated kitchen finishes, included appliances, and a balcony distinguish this private residence.
Where is this residential income property located?
The property is located at 16631 E EL LAGO Boulevard #209 Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: End‑unit residence with a private setting; Balcony with direct mountain views; Overlooks a heated community pool
