Ground-Level Apartment
New
For Sale
$279,990
1905 E University Drive #132, Tempe, AZ 85288
Apartment features include a private patio, quartz kitchen counters, and access to a community pool and spa.
Days on Market4
Property Features for 1905 E University Drive #132
General Information
Standard status
Active
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
pool
spa
Building Details
Building Size
934 SF
Year Built
1984
Listing Agency:
Barrett Real Estate
(480) 489-2957
Listed By:
Carson Sundem
(480) 489-2957
Source:
Sunhaven-realestate
Added: Jul 30
Changed: Jul 31
Last Checked: Aug 1 at 12:35PM
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 Barrett Real Estate
Investment Insights
Based on property information with market context.
This ground-level apartment unit features an inviting patio, a living room with blinds and durable tile flooring, and a kitchen with quartz counters, white cabinetry, stainless steel appliances, and a peninsula with breakfast bar. The primary bedroom includes a private bathroom.
Built in 1984, the unit is located within Papago Park Village, which offers a community pool, spa, and maintained common areas. The property is at 1905 E University Drive in Tempe, near bus stops, restaurants, and shopping.
Built in 1984, the unit is located within Papago Park Village, which offers a community pool, spa, and maintained common areas. The property is at 1905 E University Drive in Tempe, near bus stops, restaurants, and shopping.
Key Highlights
- Ground‑level apartment unit in Papago Park Village
- Inviting private patio for outdoor dining or morning coffee
- Kitchen with quartz counters, white cabinetry, stainless steel appliances, and breakfast bar
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.4k | $26.16 |
| − Vacancy | −$1.4k | −$1.52 |
| EGI | $23.0k | $24.64 |
| − OpEx | −$10.4k | −$11.09 |
| NOI | $12.7k | $13.55 |
934 SF · lease $26.16/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$180.8K
$158.2K – $211.0K
NOI $12,659 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$293.7K
$257.0K – $342.7K
NOI $20,560 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,627
Businesses Nearby
Explore this area
Business Placement
Market
Properties on Market for Residential income properties in Tempe
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Frequently Asked Questions
What type of property is this?
Residential income property - Apartment features include a private patio, quartz kitchen counters, and access to a community pool and spa.
Where is this residential income property located?
The property is located at 1905 E University Drive #132 Tempe, AZ.
What is the asking price?
The asking price for this property is $279,990.
What are key features of this property?
This property features: Ground‑level apartment unit in Papago Park Village; Inviting private patio for outdoor dining or morning coffee; Kitchen with quartz counters, white cabinetry, stainless steel appliances, and breakfast bar
