Furnished Residential Income
For Sale
$235,000
5518 E Lindstrom Lane #2023, Mesa, AZ 85215
This furnished two-bedroom, two-bath residence has a view of a community pool.
Property Size1,032 SF
Price / SF$227.71
Days on Market31
Property Features for 5518 E Lindstrom Lane #2023
General Information
Standard status
Active
Size
1,032 SF
Property subtype
Apartment
Units
Unit Mix
2BR/2BA
Multifamily Units
1
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$1,152
Amenities
pools
hot tubs
library
club house
billiards
exercise room
Full Bth Master Bdrm
Furnished(See Rmrks)
Building Details
Building Size
1,032 SF
Year Built
1987
Stories
1
Listing Agency:
Apache Gold Realty, LLC
Listed By:
Mary Almaguer · License #BR117173000
(602) 622-6581
Source:
Azonlinerealty
Added: Oct 3
Changed: Nov 2
Last Checked: Nov 2 at 1:57PM
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 Apache Gold Realty, LLC
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Investment Insights
Based on property information with market context.
Offered furnished, this 1,032-square-foot residence has two bedrooms and two bathrooms, with a split-bedroom layout. The kitchen includes stainless steel appliances, and storage includes a walk-in closet in the primary bedroom. A walk-in shower serves the hall bathroom. Built in 1987, the property is in a 55+ community in Mesa, Arizona.
Community amenities include two pools, two hot tubs, a clubhouse, a library, billiards, and an exercise room. The residence overlooks one of the pools. Shopping, hospitals, and highways are described as nearby. HOA fees cover most expenses, with electricity excluded.
Community amenities include two pools, two hot tubs, a clubhouse, a library, billiards, and an exercise room. The residence overlooks one of the pools. Shopping, hospitals, and highways are described as nearby. HOA fees cover most expenses, with electricity excluded.
Key Highlights
- Furnished 1,032‑square‑foot residence with 2 bedrooms and 2 bathrooms
- Built in 1987
- Split‑bedroom layout and a walk‑in closet in the primary bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,071
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$161,420
$161.4K
Cap Rate 7%
$115,300
$115.3K
Cap Rate 9%
$89,678
$89.7K
Market Conditions
NOI Build-Up for 1,032 SF
Gross rent
$15.7K $15.24/SF
− Vacancy
−$1.1K −$1.02/SF
EGI
$14.7K $14.22/SF
− OpEx
−$6.6K −$6.40/SF
NOI
$8.1K $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 Rate 5%
$161,420
Cap Rate 7%
$115,300
Cap Rate 9%
$89,678
Alternative Uses
Best Use
Apartment 5plus
$115.3K
$100.9K – $134.5K
NOI $8,071 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$282.9K
$247.5K – $330.0K
NOI $19,802 @ 7.0% cap · market cap 8.43%
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
462
Businesses Nearby
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Business Placement
Demographics for 85215, AZ
16,461
Population
9,146
Households
1.8
Avg Household Size
56
Median Age
36%
College-Educated
96%
High-School Grad
82.8 sq mi
ZIP Area
199
Density / Sq Mi
$90,310
Median Household Income
$55,687
Median Earnings
$1,755
Median Rent
$398,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - This furnished two-bedroom, two-bath residence has a view of a community pool.
Where is this residential income property located?
The property is located at 5518 E Lindstrom Lane #2023 Mesa, AZ.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Furnished 1,032‑square‑foot residence with 2 bedrooms and 2 bathrooms; Built in 1987; Split‑bedroom layout and a walk‑in closet in the primary bedroom
