Residential Income Property with
For Sale
$285,000
5335 E SHEA Boulevard 2107, Scottsdale, AZ 85254
The condominium includes in-unit laundry and access to a clubhouse, fitness center, pool, and spa.
Property Size743 SF
Price / SF$383.58
Days on Market151
Property Features for 5335 E SHEA Boulevard 2107
General Information
Standard status
Active
Size
743 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$921
Amenities
pool
fitness center
spa
clubhouse
in-unit laundry
private balcony
Building Details
Building Size
743 SF
Year Built
1993
Listing Agency:
Keller Williams Realty Sonoran Living
Listed By:
BVO Luxury Group · License #01428775
(833) 286-7653
Source:
Bvoluxury
Added: May 31
Changed: Oct 26
Last Checked: Oct 26 at 3:05PM
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 Realty Sonoran Living
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Investment Insights
Based on property information with market context.
This 743-square-foot condominium was built in 1993 and features a private balcony, high ceilings, granite kitchen counters, updated appliances, and neutral carpeting. The bedroom includes a walk-in closet, and laundry is located in the unit.
Residents have access to a clubhouse, fitness center, pool, and spa. Water, trash, and sewer are included in the HOA.
Residents have access to a clubhouse, fitness center, pool, and spa. Water, trash, and sewer are included in the HOA.
Key Highlights
- 743‑square‑foot condominium built in 1993
- Private balcony with views of the pool and community amenities
- Updated kitchen appliances, granite counters, and high ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,597
Cap Rate
3.02%
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 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$243.9K
$213.4K – $284.6K
NOI $17,073 @ 7.0% cap · market cap 5.99%
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
629
Businesses Nearby
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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 - The condominium includes in-unit laundry and access to a clubhouse, fitness center, pool, and spa.
Where is this residential income property located?
The property is located at 5335 E SHEA Boulevard 2107 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 743‑square‑foot condominium built in 1993; Private balcony with views of the pool and community amenities; Updated kitchen appliances, granite counters, and high ceilings
