Ground-Level Residential Income
For Sale
$259,900
5335 E SHEA Boulevard 1003, Scottsdale, AZ 85254
One-bedroom condominium with updated flooring and access to resort-style community amenities.
Property Size743 SF
Days on Market173
Property Features for 5335 E SHEA Boulevard 1003
General Information
Standard status
Active
Size
743 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$796
Amenities
pool
spa
fitness center
clubhouse
Building Details
Building Size
743 SF
Year Built
1993
Listing Agency:
Realty Young
Listed By:
Stuart Young
(602) 576-8249
Source:
Alexiabertsatos
Added: May 15
Changed: Oct 31
Last Checked: Nov 1 at 11:29AM
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 Realty Young
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Investment Insights
Based on property information with market context.
This ground-level condominium in the Belle Terra community offers one bedroom and one bathroom, along with updated plank tile flooring throughout the residence. Built in 1993, the property is supported by shared amenities that include a heated pool and spa, workout facility, clubhouse, and maintained gathering areas.
The home is located on E Shea Boulevard in Scottsdale, with access to the 51 and 101 freeways. Paradise Valley Mall, Desert Ridge Mall, restaurants, shopping, golf, and everyday conveniences are identified in the surrounding area.
The home is located on E Shea Boulevard in Scottsdale, with access to the 51 and 101 freeways. Paradise Valley Mall, Desert Ridge Mall, restaurants, shopping, golf, and everyday conveniences are identified in the surrounding area.
Key Highlights
- Ground‑level 1 BD | 1 BA condominium
- Updated plank tile flooring throughout
- Heated community pool and spa
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,597
Cap Rate
3.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$171,940
$171.9K
Cap Rate 7%
$122,814
$122.8K
Cap Rate 9%
$95,522
$95.5K
Market Conditions
NOI Build-Up for 743 SF
Gross rent
$16.3K $21.96/SF
− Vacancy
−$685 −$0.92/SF
EGI
$15.6K $21.04/SF
− OpEx
−$7.0K −$9.47/SF
NOI
$8.6K $11.57/SF
Area
Scottsdale, AZ
Vacancy
4.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$171,940
Cap Rate 7%
$122,814
Cap Rate 9%
$95,522
Alternative Uses
Best Use
Apartment 5plus
$122.8K
$107.5K – $143.3K
NOI $8,597 @ 7.0% cap · market cap 3.31%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$243.9K
$213.4K – $284.6K
NOI $17,073 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
629
Businesses Nearby
Explore this area
Business Placement
Demographics for 85254, AZ
46,352
Population
21,469
Households
2.2
Avg Household Size
45
Median Age
60%
College-Educated
97%
High-School Grad
13.7 sq mi
ZIP Area
3,383
Density / Sq Mi
$120,885
Median Household Income
$61,953
Median Earnings
$1,954
Median Rent
$701,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condominium with updated flooring and access to resort-style community amenities.
Where is this residential income property located?
The property is located at 5335 E SHEA Boulevard 1003 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Ground‑level 1 BD | 1 BA condominium; Updated plank tile flooring throughout; Heated community pool and spa
