Residential Income Property with
New
For Sale
$220,000
455 S MESA Drive Unit 151, Mesa, AZ 85210
Ground-floor living includes a private courtyard and access to a community pool and spa.
Property Size804 SF
Price / SF$273.63
Days on Market4
Property Features for 455 S MESA Drive Unit 151
General Information
Standard status
Active
Size
804 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$442
Amenities
gated community
fireplace
in-unit washer and dryer
private courtyard
assigned covered parking
pool
spa
Building Details
Building Size
804 SF
Year Built
1989
Listing Agency:
eXp Realty
Listed By:
Alexandra Pfannenstiel
(480) 708-2904
Source:
Gillettegroupaz
Added: Oct 30
Changed: Nov 1
Last Checked: Nov 1 at 3:07PM
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 eXp Realty
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Investment Insights
Based on property information with market context.
This 1989 residential income property is a ground-floor, 2-bedroom, 2-bathroom condo with 804 square feet and no interior stairs. Vaulted ceilings, wood-look flooring, a fireplace, and a separate dining area define the interior. The kitchen was remodeled approximately five years ago and has wood cabinetry, stone-look countertops, and stainless steel appliances. A new HVAC system, in-unit stackable washer and dryer, and private courtyard are also included.
The condo is in the gated Tamarron Village community in Mesa. Assigned covered parking is a short walk away, and residents have access to a community pool and spa. The HOA covers water, sewer, trash, roof repairs, exterior and common-area maintenance, front yard upkeep, and street maintenance.
The condo is in the gated Tamarron Village community in Mesa. Assigned covered parking is a short walk away, and residents have access to a community pool and spa. The HOA covers water, sewer, trash, roof repairs, exterior and common-area maintenance, front yard upkeep, and street maintenance.
Key Highlights
- 804‑square‑foot, ground‑floor condo with 2 bedrooms and 2 bathrooms
- Private courtyard and vaulted ceilings
- Kitchen remodeled approximately five years ago; stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,288
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$125,760
$125.8K
Cap Rate 7%
$89,829
$89.8K
Cap Rate 9%
$69,867
$69.9K
Market Conditions
NOI Build-Up for 804 SF
Gross rent
$12.3K $15.24/SF
− Vacancy
−$821 −$1.02/SF
EGI
$11.4K $14.22/SF
− OpEx
−$5.1K −$6.40/SF
NOI
$6.3K $7.82/SF
Area
Mesa, AZ
Vacancy
6.70%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$125,760
Cap Rate 7%
$89,829
Cap Rate 9%
$69,867
Alternative Uses
Best Use
Apartment 5plus
$89.8K
$78.6K – $104.8K
NOI $6,288 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$220.4K
$192.8K – $257.1K
NOI $15,427 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
712
Businesses Nearby
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Business Placement
Demographics for 85210, AZ
40,351
Population
16,292
Households
2.5
Avg Household Size
32
Median Age
25%
College-Educated
84%
High-School Grad
6.7 sq mi
ZIP Area
6,023
Density / Sq Mi
$59,680
Median Household Income
$38,479
Median Earnings
$1,383
Median Rent
$301,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Ground-floor living includes a private courtyard and access to a community pool and spa.
Where is this residential income property located?
The property is located at 455 S MESA Drive Unit 151 Mesa, AZ.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 804‑square‑foot, ground‑floor condo with 2 bedrooms and 2 bathrooms; Private courtyard and vaulted ceilings; Kitchen remodeled approximately five years ago; stainless steel appliances
