Lakeside Residential Income
New
For Sale
$575,000
2511 W Queen Creek Rd #354, Chandler, AZ 85248
This corner residence offers lake views and access to shared recreation, fitness, and gathering amenities.
Property Size1,489 SF
Price / SF$386.17
Days on Market3
Property Features for 2511 W Queen Creek Rd #354
General Information
Standard status
Active
Size
1,489 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
heated pool and spa
clubroom
fitness center
Building Details
Year Built
2018
Listing Agency:
West Usa Realty
(480) 948-5554
Listed By:
House of AZ
(602) 353-7034
Source:
Houseofarizona
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 28 at 7:45AM
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 West Usa Realty
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Investment Insights
Based on property information with market context.
Set in the Cays community in downtown Ocotillo, this 1,489-square-foot southwest corner residence has two bedrooms plus a den or office. Built in 2018, the home includes a contemporary electric fireplace, a kitchen with white cabinetry and quartz counters, a water softener, and a recently installed Bradford White water heater. Lake and bridge views overlook a quieter setting within the community.
Shared amenities include a heated pool and spa, fitness center, steam rooms, lockers and showers. A clubroom provides a media center, kitchen, workspace and game room. Restaurants, cafes, a wine bar, a sports bar and a steakhouse are within walking distance. The property also has freeway access and is near the technology corridor.
Shared amenities include a heated pool and spa, fitness center, steam rooms, lockers and showers. A clubroom provides a media center, kitchen, workspace and game room. Restaurants, cafes, a wine bar, a sports bar and a steakhouse are within walking distance. The property also has freeway access and is near the technology corridor.
Key Highlights
- 1,489‑square‑foot southwest corner residence with lake and bridge views
- Two bedrooms plus a den or office
- Built in 2018
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,995
Cap Rate
2.96%
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 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$426.8K
$373.4K – $497.9K
NOI $29,875 @ 7.0% cap · market cap 5.20%
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
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
Explore this area
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 - This corner residence offers lake views and access to shared recreation, fitness, and gathering amenities.
Where is this residential income property located?
The property is located at 2511 W Queen Creek Rd #354 Chandler, AZ.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 1,489‑square‑foot southwest corner residence with lake and bridge views; Two bedrooms plus a den or office; Built in 2018
