Remodeled Two-Bedroom
5877 N Granite Reef Road #1152, Scottsdale, AZ 85250
For Sale
$279,000
Residents have access to a community pool, spa, and fitness center.
Property Size742 SF
Price / SF$376.01
Days on Market36
Property Features for 5877 N Granite Reef Road #1152
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Taxes and HOA fees
Annual Taxes
Amenities
in-unit laundry
community pool
spa
fitness center
private covered patio
Full Bth Master Bdrm
Breakfast Bar
Pantry
Granite Counters
High Speed Internet
Building Details
Building Size
Year Built
Stories
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Sherry A Gijon
(602) 763-1430
Source:
Justsellingaz
Added: Oct 10
Changed: Nov 12
Last Checked: Nov 13 at 3:31PM
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 LPT Realty, LLC
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Investment Insights
Based on property information with market context.
This remodeled condo has two bedrooms and two bathrooms, with an open living area, an upgraded kitchen featuring granite countertops, and new flooring. Both bedrooms include walk-in closets, and the bathrooms have been redesigned. A covered private patio and in-unit laundry add to the home’s features. The property was built in 1980.
The condo is near Old Town Scottsdale, Arizona State University, and Loop 101. Community amenities include a pool, spa, and fitness center.
The condo is near Old Town Scottsdale, Arizona State University, and Loop 101. Community amenities include a pool, spa, and fitness center.
Key Highlights
- Two bedrooms and two bathrooms
- Remodeled interior with granite kitchen countertops and new flooring
- Walk‑in closets in both bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,585
Cap Rate
3.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$171,700
$171.7K
Cap Rate 7%
$122,643
$122.6K
Cap Rate 9%
$95,389
$95.4K
Market Conditions
NOI Build-Up for 742 SF
Gross rent
$16.3K $21.96/SF
− Vacancy
−$684 −$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%
$171,700
Cap Rate 7%
$122,643
Cap Rate 9%
$95,389
Alternative Uses
Best Use
Apartment 5plus
$122.6K
$107.3K – $143.1K
NOI $8,585 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$243.6K
$213.1K – $284.2K
NOI $17,050 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
Explore this area
Business Placement
Demographics for 85250, AZ
16,501
Population
10,066
Households
1.6
Avg Household Size
48
Median Age
58%
College-Educated
98%
High-School Grad
8.4 sq mi
ZIP Area
1,964
Density / Sq Mi
$89,133
Median Household Income
$65,984
Median Earnings
$1,762
Median Rent
$507,500
Median Home Value
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Market
Properties on Market for Residential income properties in Scottsdale
Frequently Asked Questions
What type of property is this?
Residential income property - Residents have access to a community pool, spa, and fitness center.
Where is this residential income property located?
The property is located at 5877 N Granite Reef Road #1152 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Two bedrooms and two bathrooms; Remodeled interior with granite kitchen countertops and new flooring; Walk‑in closets in both bedrooms
