End-Unit Residential Income
For Sale
$250,000
1941 S PIERPONT Drive 1049, Mesa, AZ 85206
Two-bedroom condominium with private patio, fireplace, gated access, and extensive shared recreational amenities.
Property Size1,056 SF
Days on Market82
Property Features for 1941 S PIERPONT Drive 1049
General Information
Standard status
Active
Size
1,056 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,244
Amenities
heated pools
spa
fitness center
clubhouse
business center
playground
volleyball court
beautifully maintained grounds
Building Details
Building Size
1,056 SF
Year Built
2004
Listing Agency:
eXp Realty
Listed By:
Michael J Shimono · License #SA662027000
(715) 577-7305
Source:
Gillettegroupaz
Added: Aug 1
Changed: Oct 7
Last Checked: Oct 21 at 4:49AM
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 eXp Realty
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Investment Insights
Based on property information with market context.
Built in 2004, this end-unit condominium offers a two-bedroom layout with high ceilings, wood-look flooring, and plentiful natural light. The living room includes a fireplace, while the kitchen combines an eat-in arrangement with black appliances, flat-panel cabinets, and a breakfast bar. A bay window defines the dining area. The primary bedroom has its own bathroom and walk-in closet; the secondary bedroom provides two closets and connects to a pass-through bathroom. A covered private patio extends the living space outdoors.
The residence is within the gated Solana Condominiums in Mesa, with access to heated pools, a spa, fitness center, clubhouse, business center, playground, volleyball court, and maintained grounds. Its setting also provides convenient access to major freeways, shopping, and dining.
The residence is within the gated Solana Condominiums in Mesa, with access to heated pools, a spa, fitness center, clubhouse, business center, playground, volleyball court, and maintained grounds. Its setting also provides convenient access to major freeways, shopping, and dining.
Key Highlights
- End‑unit condominium in the gated Solana Condominiums
- Built in 2004 with two bedrooms and a pass‑through bathroom
- Living room features high ceilings, wood‑look flooring, and a fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,258
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$165,160
$165.2K
Cap Rate 7%
$117,971
$118.0K
Cap Rate 9%
$91,756
$91.8K
Market Conditions
NOI Build-Up for 1,056 SF
Gross rent
$16.1K $15.24/SF
− Vacancy
−$1.1K −$1.02/SF
EGI
$15.0K $14.22/SF
− OpEx
−$6.8K −$6.40/SF
NOI
$8.3K $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%
$165,160
Cap Rate 7%
$117,971
Cap Rate 9%
$91,756
Alternative Uses
Best Use
Apartment 5plus
$118.0K
$103.2K – $137.6K
NOI $8,258 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$289.5K
$253.3K – $337.7K
NOI $20,262 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
690
Businesses Nearby
Explore this area
Business Placement
Demographics for 85206, AZ
36,713
Population
19,078
Households
1.9
Avg Household Size
48
Median Age
34%
College-Educated
92%
High-School Grad
9.4 sq mi
ZIP Area
3,906
Density / Sq Mi
$69,986
Median Household Income
$45,422
Median Earnings
$1,717
Median Rent
$322,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with private patio, fireplace, gated access, and extensive shared recreational amenities.
Where is this residential income property located?
The property is located at 1941 S PIERPONT Drive 1049 Mesa, AZ.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: End‑unit condominium in the gated Solana Condominiums; Built in 2004 with two bedrooms and a pass‑through bathroom; Living room features high ceilings, wood‑look flooring, and a fireplace
