Residential Income Property with Lake
New
For Sale
$497,000
2511 W Queen Creek Rd #276, Chandler, AZ 85248
The 2024 end-unit residence includes a private balcony and a dedicated office with French doors.
Property Size1,489 SF
Price / SF$333.78
Days on Market2
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Property Features for 2511 W Queen Creek Rd #276
General Information
Standard status
Active
Size
1,489 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Amenities
heated pool
spa
fitness center
yoga room
steam rooms
clubhouse
private balcony
Building Details
Year Built
2024
Listing Agency:
Better Choice Homes, LLC
(602) 492-9242
Listed By:
House of AZ
(602) 353-7034
Source:
Houseofarizona
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:39AM
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 Better Choice Homes, LLC
Investment Insights
Based on property information with market context.
This 1,489-square-foot end-unit residence has an open-concept layout, a dedicated office with French doors and custom cabinetry, and a private balcony overlooking the lake and bridge. Interior finishes include LVP flooring, raised-panel cabinetry, leathered marble countertops, stainless steel appliances, designer light fixtures, and a built-in wine fridge. The property was built in 2024.
Residents have access to a heated pool, spa, fitness center, yoga room, steam rooms, and clubhouse. Dining, cafes, and entertainment are nearby.
Residents have access to a heated pool, spa, fitness center, yoga room, steam rooms, and clubhouse. Dining, cafes, and entertainment are nearby.
Key Highlights
- 1,489‑square‑foot end‑unit residence built in 2024
- Private balcony with views of the lake and bridge
- Dedicated office with French doors and custom cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,995
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$339,900
$339.9K
Cap Rate 7%
$242,786
$242.8K
Cap Rate 9%
$188,833
$188.8K
Market Conditions
NOI Build-Up for 1,489 SF
Gross rent
$32.7K $21.96/SF
− Vacancy
−$1.8K −$1.21/SF
EGI
$30.9K $20.75/SF
− OpEx
−$13.9K −$9.34/SF
NOI
$17.0K $11.41/SF
Area
Chandler, AZ
Vacancy
5.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$339,900
Cap Rate 7%
$242,786
Cap Rate 9%
$188,833
Alternative Uses
Best Use
Apartment 5plus
$242.8K
$212.4K – $283.3K
NOI $16,995 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$426.8K
$373.4K – $497.9K
NOI $29,875 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
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Business Placement
Demographics for 85248, AZ
38,567
Population
20,013
Households
1.9
Avg Household Size
57
Median Age
52%
College-Educated
97%
High-School Grad
30.6 sq mi
ZIP Area
1,260
Density / Sq Mi
$94,220
Median Household Income
$71,405
Median Earnings
$1,822
Median Rent
$489,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The 2024 end-unit residence includes a private balcony and a dedicated office with French doors.
Where is this residential income property located?
The property is located at 2511 W Queen Creek Rd #276 Chandler, AZ.
What is the asking price?
The asking price for this property is $497,000.
What are key features of this property?
This property features: 1,489‑square‑foot end‑unit residence built in 2024; Private balcony with views of the lake and bridge; Dedicated office with French doors and custom cabinetry
