Residential Income Property with
New
For Sale
$499,000
2511 W Queen Creek Rd #314, Chandler, AZ 85248
Built in 2021, the condo combines contemporary interior finishes with access to shared recreation and wellness amenities.
Property Size1,346 SF
Price / SF$370.73
Days on Market6
Property Features for 2511 W Queen Creek Rd #314
General Information
Standard status
Active
Size
1,346 SF
Elevators
Yes
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
private balcony
heated community pool and spa
fitness center
game room
business and media center
steam room
Building Details
Year Built
2021
Construction
modern
Listing Agency:
Exp Realty
(888) 897-7821
Listed By:
Klaus Team Real Estate Solutions
(480) 354-7344
Source:
Klausteam
Added: Oct 28
Changed: Nov 1
Last Checked: Nov 1 at 5:39AM
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 Exp Realty
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Investment Insights
Based on property information with market context.
This two-bedroom, two-bathroom condo was built in 2021 and includes a private balcony. Interior features include quartz countertops, tile flooring, maple cabinetry, and TRANE HVAC. The residential income property classification identifies the asset type; the residence is presented as a condominium.
Residents have access to a heated community pool and spa, fitness center, game room, business and media center, steam room, and elevators. Restaurants, a cafe, wine bar, and sports bar are within walking distance. The property is also described as near the Price Corridor, shopping, golf, entertainment, and major employers.
Residents have access to a heated community pool and spa, fitness center, game room, business and media center, steam room, and elevators. Restaurants, a cafe, wine bar, and sports bar are within walking distance. The property is also described as near the Price Corridor, shopping, golf, entertainment, and major employers.
Key Highlights
- Two‑bedroom, two‑bathroom condominium
- Built in 2021
- Private balcony
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,363
Cap Rate
3.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$307,260
$307.3K
Cap Rate 7%
$219,471
$219.5K
Cap Rate 9%
$170,700
$170.7K
Market Conditions
NOI Build-Up for 1,346 SF
Gross rent
$29.6K $21.96/SF
− Vacancy
−$1.6K −$1.21/SF
EGI
$27.9K $20.75/SF
− OpEx
−$12.6K −$9.34/SF
NOI
$15.4K $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%
$307,260
Cap Rate 7%
$219,471
Cap Rate 9%
$170,700
Alternative Uses
Best Use
Apartment 5plus
$219.5K
$192.0K – $256.1K
NOI $15,363 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$385.8K
$337.6K – $450.1K
NOI $27,006 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
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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 - Built in 2021, the condo combines contemporary interior finishes with access to shared recreation and wellness amenities.
Where is this residential income property located?
The property is located at 2511 W Queen Creek Rd #314 Chandler, AZ.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom condominium; Built in 2021; Private balcony
