Remodeled Residential Income
For Sale
$224,900
533 W GUADALUPE Road 1053, Mesa, AZ 85210
Updated condominium with an open living area, private patio, and access to shared pools and hot tubs.
Property Size828 SF
Days on Market15
Property Features for 533 W GUADALUPE Road 1053
General Information
Standard status
Active
Size
828 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$501
Building Details
Building Size
828 SF
Year Built
1985
Listing Agency:
HomeSmart
Listed By:
John Ferrence
(480) 688-3711
Source:
Gillettegroupaz
Added: Sep 18
Changed: Sep 28
Last Checked: Oct 1 at 5:39PM
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 HomeSmart
Investment Insights
Based on property information with market context.
This remodeled condominium in Woodglen Square features an open great-room layout with a flexible central living area. The kitchen provides workspace and storage, while an in-unit stacking washer and dryer add convenience. Two bedrooms and two separate bathrooms support comfortable residential use, and a private patio extends the living area outdoors.
Residents have access to two private community pools and hot tubs located near the unit. The property was built in 1985 and is situated in Mesa, Arizona.
Residents have access to two private community pools and hot tubs located near the unit. The property was built in 1985 and is situated in Mesa, Arizona.
Key Highlights
- Remodeled condominium in Woodglen Square
- Two bedrooms and two separate bathrooms
- Open great‑room floor plan
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$6,475
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$129,500
$129.5K
Cap Rate 7%
$92,500
$92.5K
Cap Rate 9%
$71,944
$71.9K
Market Conditions
NOI Build-Up for 828 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$12.6K $15.24/SF
− Vacancy
−$845 −$1.02/SF
EGI
$11.8K $14.22/SF
− OpEx
−$5.3K −$6.40/SF
NOI
$6.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$129,500
Cap Rate 7%
$92,500
Cap Rate 9%
$71,944
Alternative Uses
Best Use
Apartment 5plus
$92.5K
$80.9K – $107.9K
NOI $6,475 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$227.0K
$198.6K – $264.8K
NOI $15,887 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium with an open living area, private patio, and access to shared pools and hot tubs.
Where is this residential income property located?
The property is located at 533 W GUADALUPE Road 1053 Mesa, AZ.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Remodeled condominium in Woodglen Square; Two bedrooms and two separate bathrooms; Open great‑room floor plan
