Residential Income Property with
For Sale
$585,000
2511 W QUEEN CREEK Road #446, Chandler, AZ 85248
A top-floor residence pairs a private loft and full bathrooms with shared fitness, recreation, and pool amenities.
Property Size1,584 SF
Price / SF$369.32
Days on Market18
Property Features for 2511 W QUEEN CREEK Road #446
General Information
Standard status
Active
Size
1,584 SF
Property subtype
Apartment
Building Details
Year Built
2018
Listing Agency:
Gentry Real Estate
(480) 750-9910
Listed By:
Rebecca Reed · License #SA103810000
(480) 390-6129
Source:
Kathrynthomas
Added: Oct 13
Changed: Oct 28
Last Checked: Oct 28 at 3:51PM
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 Gentry Real Estate
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Investment Insights
Based on property information with market context.
At The Cays at Ocotillo, this 1,584-square-foot, south-facing penthouse has two bedrooms, a loft, and three full bathrooms. The open great-room layout includes 25-foot ceilings. Kitchen features include granite counters, maple cabinetry, stainless-steel appliances, and pendant lighting. The home was built in 2018 and has views of the pool, lake, and mountains.
Community amenities include a heated pool and spa, barbecue area, bar, firepit, fitness center, yoga studio, steam room, and game room with a kitchen and dining area. A private gated garage and keypad entry are also provided. The property is at 2511 W Queen Creek Road #446 in Chandler.
Community amenities include a heated pool and spa, barbecue area, bar, firepit, fitness center, yoga studio, steam room, and game room with a kitchen and dining area. A private gated garage and keypad entry are also provided. The property is at 2511 W Queen Creek Road #446 in Chandler.
Key Highlights
- 1,584 square feet with two bedrooms, a loft, and three full bathrooms
- 25‑foot ceilings and an open great‑room layout
- South‑facing top‑floor home with pool, lake, and mountain views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,079
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$361,580
$361.6K
Cap Rate 7%
$258,271
$258.3K
Cap Rate 9%
$200,878
$200.9K
Market Conditions
NOI Build-Up for 1,584 SF
Gross rent
$34.8K $21.96/SF
− Vacancy
−$1.9K −$1.21/SF
EGI
$32.9K $20.75/SF
− OpEx
−$14.8K −$9.34/SF
NOI
$18.1K $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%
$361,580
Cap Rate 7%
$258,271
Cap Rate 9%
$200,878
Alternative Uses
Best Use
Apartment 5plus
$258.3K
$226.0K – $301.3K
NOI $18,079 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$454.0K
$397.3K – $529.7K
NOI $31,781 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with authorities.
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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 - A top-floor residence pairs a private loft and full bathrooms with shared fitness, recreation, and pool amenities.
Where is this residential income property located?
The property is located at 2511 W QUEEN CREEK Road #446 Chandler, AZ.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: 1,584 square feet with two bedrooms, a loft, and three full bathrooms; 25‑foot ceilings and an open great‑room layout; South‑facing top‑floor home with pool, lake, and mountain views
