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200 E SOUTHERN Avenue 224

Tempe, AZ 85282

Tempe, AZ 85282

200 E SOUTHERN Avenue 224

$249,900

MLS#: 7009928

Status: Active

Listing provided by: Delex Realty

Listing agent phone: None

Last update: 28 days ago

On site: 3 months ago

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Chesapeake Condominium - Residential

About

Investor opportunity in the heart of Tempe! Tenant-occupied 2 bed / 2 bath condo providing immediate rental income with optimized mid-term rental upside potential. This unit features a highly desirable split floorplan, inside laundry, a private shaded balcony, and spacious living areas. Unbeatable location just 2.5 miles from ASU, shopping, dining, major valley employers, and immediate freeway access. An attractive option for buy-and-hold investors, 1031 Exchange buyers, and portfolio growth. Active HOA community repair projects offer a built-in equity cushion and long-term value enhancement. Dues cover exterior maintenance, roofing, blanket insurance, water, sewer, trash, and access to 2 heated pools and hot tubs. Buyer to independently verify all property rules. Highest & Best Use Strategy: While currently stabilized as a long-term rental, this asset is primed for an optimized roadmap to transition into a premium 30-to-90+ day Mid-Term Rental (MTR) to capitalize on high-yielding traveling medical, corporate, and transitional academic stays. Financing & Cash Advantage: Due to ongoing community asset stabilization and repair cycles, this property is currently non-warrantable and requires an all-cash close. Cash investors can capitalize on this status to bypass financed retail competition. Turnkey Rental Infrastructure: Property is situated in an always-in-demand rental hub with local property management infrastructure available for seamless out-of-state portfolio integration. Pro Forma Availability: Data-backed pro forma models outlining both the stabilized long-term rental math and optimized mid-term rental metrics are available upon request.

Property

Beds

2

Full Baths

2

1/2 Baths

None

Year Built

1986

Sq.Footage

941

Features

Features & Amenities

Interior

  • Other Interior Features

    Granite Counters, Vaulted Ceiling(s)

  • Total Bedrooms

    2

  • Bathrooms

    2

  • Basement YN

    NO

  • Cooling YN

    YES

  • Cooling

    Central Air

  • Fireplace YN

    YES

  • Heating YN

    YES

  • Heating

    Electric

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Brick Veneer, Wood Siding, Frame

  • Other Exterior Features

    Balcony, Storage

  • Parking

    Detached Carport, Assigned

  • Pool

    No

  • View

    City

Area & Lot

  • Lot Size(acres)

    0.03

  • Lot Size(square feet)

    1,202

  • Property Type

    Residential

  • Property Sub Type

    Apartment

Price

  • Sales Price

    $249,900

  • Tax Amount

    $1,195

  • Financing Options

    Cash

  • Sq. Footage

    941

  • Price/SqFt

    $265

HOA

  • Association

    YES

  • Association Fee

    $445.39

  • Association Fee Frequency

    Monthly

  • Association Fee Includes

    N/A

Property Resources

  • Horse Property

    NO

School District

  • Elementary School

    Tempe School District

  • Middle School

    Connolly Middle School

  • High School

    Tempe High School

Property Features

  • Stories

    2

  • Ownership

    Condominium

  • Sewer

    Public Sewer

  • Tax Lot

    224

  • Water Source

    Public

Schedule

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Location

  • County

    Maricopa

  • Elementary School

    Tempe School District

  • Middle School

    Connolly Middle School

  • High School

    Tempe High School

Listing Courtesy of Liza Rhima , Delex Realty

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Agent Kelly Hammer

Kelly Hammer

Associate Broker / Realtor®

Call Kelly today to schedule a private showing.

Phone (520) 227-5144

Email Kelly@MandyGoldTeam.com


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200 E SOUTHERN Avenue 224

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