Ground-Level Residential Income
For Sale
$174,900
455 S DELAWARE Drive #1, Apache Junction, AZ 85120
Furnished end-unit condo in a gated 55+ community with shared recreation amenities and covered parking.
Property Size1,060 SF
Price / SF$165
Days on Market37
Property Features for 455 S DELAWARE Drive #1
General Information
Standard status
Active
Size
1,060 SF
Property subtype
Apartment
Additional Details
Furnished
Yes
Highway Access
Yes
Multifamily Units
1
Amenities
clubhouse
community pool
hot tub
pickleball court
tennis courts
exercise room
gated community
covered parking
enclosed patio with attached laundry
wood-burning fireplace
Building Details
Year Built
1984
Listing Agency:
Berkshire Hathaway Homeservices Arizona Properties
Listed By:
Kathryn Thomas
(480) 505-6300
Source:
Kathrynthomas
Added: Sep 25
Changed: Oct 28
Last Checked: Oct 28 at 2:57PM
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 Berkshire Hathaway Homeservices Arizona Properties
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Investment Insights
Based on property information with market context.
This 1,060-square-foot ground-level end-unit condo was built in 1984 and is offered furnished. Its open floor plan includes a wood-burning fireplace and an enclosed patio with attached laundry. The kitchen has granite countertops, a refrigerator, a microwave, and a dishwasher. Updates include an A/C system from 2022 and a tankless water heater from 2026.
The residence is within Indian Summer, a gated community for residents 55 and older. Shared amenities include a clubhouse, pool, hot tub, pickleball and tennis courts, and an exercise room. The property is near US 60 and Loop 202, and includes covered parking.
The residence is within Indian Summer, a gated community for residents 55 and older. Shared amenities include a clubhouse, pool, hot tub, pickleball and tennis courts, and an exercise room. The property is near US 60 and Loop 202, and includes covered parking.
Key Highlights
- Ground‑level end‑unit condo with 1,060 square feet
- Furnished; built in 1984
- Enclosed patio with attached laundry and a wood‑burning fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,340
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$166,800
$166.8K
Cap Rate 7%
$119,143
$119.1K
Cap Rate 9%
$92,667
$92.7K
Market Conditions
NOI Build-Up for 1,060 SF
Gross rent
$17.2K $16.20/SF
− Vacancy
−$2.0K −$1.90/SF
EGI
$15.2K $14.30/SF
− OpEx
−$6.8K −$6.44/SF
NOI
$8.3K $7.87/SF
Area
Pinal County, AZ
Vacancy
11.70%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$166,800
Cap Rate 7%
$119,143
Cap Rate 9%
$92,667
Alternative Uses
Best Use
Apartment 5plus
$119.1K
$104.3K – $139.0K
NOI $8,340 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$293.0K
$256.4K – $341.9K
NOI $20,513 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
671
Businesses Nearby
Explore this area
Business Placement
Demographics for 85120, AZ
30,605
Population
17,430
Households
1.8
Avg Household Size
54
Median Age
14%
College-Educated
87%
High-School Grad
23.1 sq mi
ZIP Area
1,325
Density / Sq Mi
$53,921
Median Household Income
$35,155
Median Earnings
$958
Median Rent
$162,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Furnished end-unit condo in a gated 55+ community with shared recreation amenities and covered parking.
Where is this residential income property located?
The property is located at 455 S DELAWARE Drive #1 Apache Junction, AZ.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: Ground‑level end‑unit condo with 1,060 square feet; Furnished; built in 1984; Enclosed patio with attached laundry and a wood‑burning fireplace
