Ground-Level Residential Income
For Sale
$499,900
5200 S Lakeshore Drive 111, Tempe, AZ 85283
Three-bedroom residence with two bathrooms, covered patio, fireplace, and access to extensive Lakeshore community amenities.
Property Size1,742 SF
Days on Market20
Property Features for 5200 S Lakeshore Drive 111
General Information
Standard status
Active
Size
1,742 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,817
Amenities
covered outdoor seating area
pool
spa
clubhouse
heated pool
fitness center
racquetball courts
tennis courts
pickleball
walking/biking paths
Building Details
Building Size
1,742 SF
Year Built
1988
Listing Agency:
TCT Real Estate
Listed By:
Douglas Young
(623) 210-0902
Source:
Gillettegroupaz
Added: Sep 17
Changed: Sep 24
Last Checked: Oct 6 at 12:40AM
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 TCT Real Estate
Investment Insights
Based on property information with market context.
This ground-level residential income property offers three bedrooms, two bathrooms, and a flexible layout suited to use as a primary residence, guest room, or home office. The family room includes a stone fireplace and sliding glass doors that open to a covered patio. The kitchen features white cabinetry, granite countertops, stainless-steel appliances, and a mosaic backsplash, with an adjoining dining or breakfast area. The primary suite includes dual vanities and a glass-enclosed shower, while all bedrooms have walk-in closets.
Built in 1988, the residence is located in the Lakeshore community in Tempe. Community amenities include a clubhouse, heated pool, spa, fitness center, racquetball and tennis courts, pickleball facilities, and walking and biking paths. The complex also provides a pool and spa.
Built in 1988, the residence is located in the Lakeshore community in Tempe. Community amenities include a clubhouse, heated pool, spa, fitness center, racquetball and tennis courts, pickleball facilities, and walking and biking paths. The complex also provides a pool and spa.
Key Highlights
- Three‑bedroom, two‑bathroom ground‑level residence
- Stone fireplace and covered patio accessed through large sliding glass doors
- Kitchen with granite counters, stainless‑steel appliances, white cabinetry, and mosaic backsplash
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,610
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,200
$472.2K
Cap Rate 7%
$337,286
$337.3K
Cap Rate 9%
$262,333
$262.3K
Market Conditions
NOI Build-Up for 1,742 SF
Gross rent
$45.6K $26.16/SF
− Vacancy
−$2.6K −$1.52/SF
EGI
$42.9K $24.64/SF
− OpEx
−$19.3K −$11.09/SF
NOI
$23.6K $13.55/SF
Area
Tempe, AZ
Vacancy
5.80%
Lease Rate
$26.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,200
Cap Rate 7%
$337,286
Cap Rate 9%
$262,333
Alternative Uses
Best Use
Apartment 5plus
$337.3K
$295.1K – $393.5K
NOI $23,610 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$547.8K
$479.3K – $639.1K
NOI $38,346 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,301
Businesses Nearby
Explore this area
Business Placement
Demographics for 85283, AZ
45,736
Population
20,620
Households
2.2
Avg Household Size
35
Median Age
44%
College-Educated
93%
High-School Grad
8.8 sq mi
ZIP Area
5,197
Density / Sq Mi
$81,073
Median Household Income
$47,213
Median Earnings
$1,669
Median Rent
$409,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom residence with two bathrooms, covered patio, fireplace, and access to extensive Lakeshore community amenities.
Where is this residential income property located?
The property is located at 5200 S Lakeshore Drive 111 Tempe, AZ.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Three‑bedroom, two‑bathroom ground‑level residence; Stone fireplace and covered patio accessed through large sliding glass doors; Kitchen with granite counters, stainless‑steel appliances, white cabinetry, and mosaic backsplash
