Poolside Residential Income
For Sale
$310,000
16631 E EL LAGO Boulevard 209, Fountain Hills, AZ 85268
The community permits Airbnb rentals, and downtown restaurants, shops, parks, and events are within walking distance.
Property Size1,085 SF
Price / SF$285.71
Days on Market175
Property Features for 16631 E EL LAGO Boulevard 209
General Information
Standard status
Active
Size
1,085 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$825
Amenities
community pool
Building Details
Building Size
1,085 SF
Year Built
2003
Listing Agency:
Realty ONE Group
Listed By:
Gavin Brill · License #SA697653000
(480) 388-4966
Source:
Sonoranlifestyle
Added: May 7
Changed: Oct 26
Last Checked: Oct 26 at 2:33PM
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
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Investment Insights
Based on property information with market context.
This 1,085-square-foot, first-floor condominium has two bedrooms and two bathrooms, with tile flooring throughout. The kitchen features quartz countertops, a lowered breakfast bar, ample cabinetry, and included appliances. The primary bedroom includes a walk-in shower and dual sinks, while a private porch opens toward the community pool. The building was constructed in 2003.
The community allows Airbnb rentals. Downtown Fountain Hills destinations—including restaurants, shops, parks, the fountain, and community events—are within walking distance.
The community allows Airbnb rentals. Downtown Fountain Hills destinations—including restaurants, shops, parks, the fountain, and community events—are within walking distance.
Key Highlights
- 1,085‑square‑foot, first‑floor condo with 2 bedrooms and 2 bathrooms
- Private porch backs directly to the community pool
- Community permits Airbnb rentals
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.
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Property Analytics
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,289
Businesses Nearby
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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 - The community permits Airbnb rentals, and downtown restaurants, shops, parks, and events are within walking distance.
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: 1,085‑square‑foot, first‑floor condo with 2 bedrooms and 2 bathrooms; Private porch backs directly to the community pool; Community permits Airbnb rentals
