Updated Duplex with Private
For Sale
$599,900
461 Mulberry Ave, Lake Havasu City, AZ 86403
Two-unit property with updated finishes, included appliances, and a swimming pool serving the A unit.
Property Size2,406 SF
Price / SF$249.33
Days on Market53
Property Features for 461 Mulberry Ave
General Information
Standard status
Active
Size
2,406 SF
Property subtype
Multi-Family
Building Details
Year Built
1988
Listing Agency:
Keller Williams Arizona Living Realty
Listed By:
Brenda Fischer · License #SA517005000
(928) 486-3731
Source:
Sellinghavasu
Added: Aug 15
Changed: Oct 2
Last Checked: Oct 5 at 9:01PM
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 Keller Williams Arizona Living Realty
Investment Insights
Based on property information with market context.
Located at 461 Mulberry Ave in Lake Havasu City, this 2406 SF duplex includes two residential units, each with 2 bedrooms, 2 bathrooms, and a 2-car garage. The property was built in 1988 and has been owner occupied.
Recent improvements include a newer roof, fresh exterior paint, updated pool surface, new flooring in both units, reverse osmosis systems, and included appliances. One unit has an updated walk-in shower, while the garage serving the A unit includes a mini-split air-conditioning system. A swimming pool is positioned on the A-unit side of the property.
The duplex is near the lake, beaches, boat launches, restaurants, and shopping. Its two-unit layout, separate garages, and existing property improvements provide a clear residential income configuration.
Recent improvements include a newer roof, fresh exterior paint, updated pool surface, new flooring in both units, reverse osmosis systems, and included appliances. One unit has an updated walk-in shower, while the garage serving the A unit includes a mini-split air-conditioning system. A swimming pool is positioned on the A-unit side of the property.
The duplex is near the lake, beaches, boat launches, restaurants, and shopping. Its two-unit layout, separate garages, and existing property improvements provide a clear residential income configuration.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 2 bathrooms in each unit
- Each unit includes a 2‑car garage
- 2406 SF property built in 1988
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,952
Cap Rate
2.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$359,040
$359.0K
Cap Rate 7%
$256,457
$256.5K
Cap Rate 9%
$199,467
$199.5K
Market Conditions
NOI Build-Up for 2,406 SF
Gross rent
$27.4K $11.40/SF
− Vacancy
−$1.8K −$0.74/SF
EGI
$25.6K $10.66/SF
− OpEx
−$7.7K −$3.20/SF
NOI
$18.0K $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%
$359,040
Cap Rate 7%
$256,457
Cap Rate 9%
$199,467
Alternative Uses
Best Use
Multifamily LT 5
$256.5K
$224.4K – $299.2K
NOI $17,952 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$239.3K
$209.4K – $279.2K
NOI $16,754 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$537.2K
$470.0K – $626.7K
NOI $37,603 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
383
Businesses Nearby
Explore this area
Business Placement
Demographics for 86403, AZ
17,787
Population
11,604
Households
1.5
Avg Household Size
53
Median Age
18%
College-Educated
89%
High-School Grad
11.0 sq mi
ZIP Area
1,617
Density / Sq Mi
$57,531
Median Household Income
$33,368
Median Earnings
$1,152
Median Rent
$313,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with updated finishes, included appliances, and a swimming pool serving the A unit.
Where is this duplex located?
The property is located at 461 Mulberry Ave Lake Havasu City, AZ.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 2 bathrooms in each unit; Each unit includes a 2‑car garage; 2406 SF property built in 1988
