Updated Residential Income
For Sale
$310,000
850 S River Dr #1111, Tempe, AZ 85281
Gated community condo with split bedroom arrangement, pool access, and enclosed patio storage.
Property Size1,092 SF
Price / SF$283.88
Days on Market18
Property Features for 850 S River Dr #1111
General Information
Standard status
Active
Size
1,092 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
pool
gated community
Building Details
Year Built
1985
Listing Agency:
Coldwell Banker Realty
(480) 834-9131
Listed By:
Kirsten Goebeler · License #SA665100000
(480) 792-9500
Source:
85086realestate
Added: Sep 19
Changed: Oct 6
Last Checked: Oct 5 at 7:11PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 1,092 SF condominium offers three bedrooms and a split-level layout. Two bedrooms and a full bathroom are positioned upstairs, while the lower level includes a bedroom with a private bathroom. Wood-look tile flooring has been installed throughout, and storage is available inside the home and in the enclosed patio, which also includes a separate storage closet.
The residence is located at 850 S River Dr #1111 in Tempe, within a gated community on the south side of the property. The pool is a short walk away. The location provides access to the 101, ASU, Downtown Tempe, and Tempe Marketplace. Built in 1985, the community is designated as no-dog per HOA.
The residence is located at 850 S River Dr #1111 in Tempe, within a gated community on the south side of the property. The pool is a short walk away. The location provides access to the 101, ASU, Downtown Tempe, and Tempe Marketplace. Built in 1985, the community is designated as no-dog per HOA.
Key Highlights
- Three‑bedroom, two‑bathroom condo with split‑level bedroom arrangement
- 1,092 SF interior with wood‑look tile flooring
- Gated community with pool access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,800
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,000
$296.0K
Cap Rate 7%
$211,429
$211.4K
Cap Rate 9%
$164,444
$164.4K
Market Conditions
NOI Build-Up for 1,092 SF
Gross rent
$28.6K $26.16/SF
− Vacancy
−$1.7K −$1.52/SF
EGI
$26.9K $24.64/SF
− OpEx
−$12.1K −$11.09/SF
NOI
$14.8K $13.55/SF
Area
Tempe, AZ
Vacancy
5.80%
Lease Rate
$26.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,000
Cap Rate 7%
$211,429
Cap Rate 9%
$164,444
Alternative Uses
Best Use
Apartment 5plus
$211.4K
$185.0K – $246.7K
NOI $14,800 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$343.4K
$300.5K – $400.6K
NOI $24,038 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,530
Businesses Nearby
Explore this area
Business Placement
Demographics for 85281, AZ
69,218
Population
32,475
Households
2.1
Avg Household Size
26
Median Age
49%
College-Educated
91%
High-School Grad
13.3 sq mi
ZIP Area
5,204
Density / Sq Mi
$59,084
Median Household Income
$32,805
Median Earnings
$1,531
Median Rent
$364,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Gated community condo with split bedroom arrangement, pool access, and enclosed patio storage.
Where is this residential income property located?
The property is located at 850 S River Dr #1111 Tempe, AZ.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Three‑bedroom, two‑bathroom condo with split‑level bedroom arrangement; 1,092 SF interior with wood‑look tile flooring; Gated community with pool access
