Four-Unit Residential
New
For Sale
$699,000
3139 E CICERO Street, Mesa, AZ 85213
The fully occupied property contains four residential units, including three leased units.
Property Size3,648 SF
Lot Size0.19 Acres
Price / SF$191.61
Days on Market5
Property Features for 3139 E CICERO Street
General Information
Standard status
Active
Size
3,648 SF
Lot size
0.19 Acres
Property subtype
Multiple Dwellings
Occupancy
100%
Additional Details
Multifamily Units
4
Building Details
Year Built
1984
Buildings
1
Tenancy
Multi
Listing Agency:
Home Ladder
(602) 898-3662
Listed By:
Alicia Calano
(623) 330-0683
Source:
Mariannashone
Added: Oct 1
Last Checked: Oct 4 at 5:28PM
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 Home Ladder
Investment Insights
Based on property information with market context.
Built in 1984, this residential income property contains four units totaling approximately 3,648 square feet. The building occupies an 8,406-square-foot lot in Mesa’s University Villa East. All four units are occupied, and three are leased.
Key Highlights
- Four residential units totaling approximately 3,648 square feet
- 8,406‑square‑foot lot in Mesa’s University Villa East
- Built in 1984; fully occupied, with three leased units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,421
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.64%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$648,420
$648.4K
Cap Rate 7%
$463,157
$463.2K
Cap Rate 9%
$360,233
$360.2K
Market Conditions
NOI Build-Up for 3,648 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$49.5K $13.56/SF
− Vacancy
−$3.2K −$0.86/SF
EGI
$46.3K $12.70/SF
− OpEx
−$13.9K −$3.81/SF
NOI
$32.4K $8.89/SF
Area
Mesa, AZ
Vacancy
6.37%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$648,420
Cap Rate 7%
$463,157
Cap Rate 9%
$360,233
Alternative Uses
Best Use
Multifamily LT 5
$463.2K
$405.3K – $540.4K
NOI $32,421 @ 7.0% cap · market cap 4.64%
Second Best
Apartment 5plus
$407.6K
$356.6K – $475.5K
NOI $28,529 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$999.9K
$875.0K – $1.17M
NOI $69,996 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
604
Businesses Nearby
Explore this area
Business Placement
Demographics for 85213, AZ
36,572
Population
15,468
Households
2.4
Avg Household Size
39
Median Age
39%
College-Educated
96%
High-School Grad
9.2 sq mi
ZIP Area
3,975
Density / Sq Mi
$100,671
Median Household Income
$49,759
Median Earnings
$1,640
Median Rent
$407,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - The fully occupied property contains four residential units, including three leased units.
Where is this quadplex located?
The property is located at 3139 E CICERO Street Mesa, AZ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Four residential units totaling approximately 3,648 square feet; 8,406‑square‑foot lot in Mesa’s University Villa East; Built in 1984; fully occupied, with three leased units
