Tenant-Occupied Duplex with
For Sale
$498,000
3195 Arapaho Dr, Lake Havasu City, AZ 86406
Multi-Family, Lake Havasu City, AZ
Property Size2,318 SF
Lot Size0.23 Acres
Price / SF$214.84
Days on Market425
Property Features for 3195 Arapaho Dr
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
L-R-2 Two-Family Residential
Bedrooms
5
Rooms
Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 3
Subdivision
Lake Havasu City
Directions
THUNDERBOLT TO ARAPAHO
Standard status
Active
APN
114-09-012
Size
2,318 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LAKE HAVASU CITY TR 2256 BLK 2 LOT 6 SECS 17, 18, & 19
Tax Annual Amount
1364
Legal Description
LAKE HAVASU CITY TR 2256 BLK 2 LOT 6 SECS 17, 18, & 19
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1974
Number of units
2
Flooring type
Each unit different, Carpet, Tile
Building materials
Stucco
Listing Agency:
Paradise Sales & Management
Listed By:
Martin L. Standsberry
(928) 846-4330
Added: Aug 25, 2025
Changed: Oct 19
Last Checked: Oct 23 at 6:06PM
MLS# 1036868
Copyright © 2026 Lake Havasu Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,318-square-foot duplex on a 0.23-acre lot contains two tenant-occupied residences with different floor plans. One unit offers 3 bedrooms, 2 bathrooms, a den, a 2-car garage, dog run, and deck. The other includes 2 bedrooms, 1 bathroom, and a 1-car garage. The property has stucco construction, carpet and tile flooring, central air conditioning, and heat-pump heating.
Built in 1974, the property is located at 3195 Arapaho Dr in Lake Havasu City, Arizona. Additional site features include room for parking, public water, and public sewer service.
Built in 1974, the property is located at 3195 Arapaho Dr in Lake Havasu City, Arizona. Additional site features include room for parking, public water, and public sewer service.
Key Highlights
- Two‑unit duplex with both residences occupied by tenants
- 2,318 SF building on a 0.23‑acre lot
- Larger residence includes 3 bedrooms, 2 bathrooms, den, 2‑car garage, dog run, and deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,295
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$345,900
$345.9K
Cap Rate 7%
$247,071
$247.1K
Cap Rate 9%
$192,167
$192.2K
Market Conditions
NOI Build-Up for 2,318 SF
Gross rent
$26.4K $11.40/SF
− Vacancy
−$1.7K −$0.74/SF
EGI
$24.7K $10.66/SF
− OpEx
−$7.4K −$3.20/SF
NOI
$17.3K $7.46/SF
Area
Mohave County, AZ
Vacancy
6.50%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$345,900
Cap Rate 7%
$247,071
Cap Rate 9%
$192,167
Alternative Uses
Best Use
Multifamily LT 5
$247.1K
$216.2K – $288.3K
NOI $17,295 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$230.6K
$201.8K – $269.0K
NOI $16,141 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$517.5K
$452.9K – $603.8K
NOI $36,228 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
239
Businesses Nearby
Explore this area
Business Placement
Demographics for 86406, AZ
24,935
Population
14,846
Households
1.7
Avg Household Size
57
Median Age
19%
College-Educated
94%
High-School Grad
244.5 sq mi
ZIP Area
102
Density / Sq Mi
$74,171
Median Household Income
$45,457
Median Earnings
$1,311
Median Rent
$434,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two occupied residences provide distinct floor plans, private garages, and access to public water and sewer services.
Where is this duplex located?
The property is located at 3195 Arapaho Dr Lake Havasu City, AZ.
What is the asking price?
The asking price for this property is $498,000.
What are key features of this property?
This property features: Two‑unit duplex with both residences occupied by tenants; 2,318 SF building on a 0.23‑acre lot; Larger residence includes 3 bedrooms, 2 bathrooms, den, 2‑car garage, dog run, and deck
