200 E Southern Avenue #224, Tempe, AZ 85282

Tempe
Local realty services provided by:ERA Brokers Consolidated
200 E Southern Avenue #224,Tempe, AZ 85282
$249,900
Virtual Tour
  • 2 Beds
  • 2 Baths
  • 941 sq. ft.
  • Condominium
  • Active
Listed by: liza rhima
Office: delex realty
MLS#:7009928
Source:ARMLS

Price summary

  • Price:$249,900
  • Price per sq. ft.:$265.57
  • Monthly HOA dues:$445

About this home

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...

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Home facts

  • Year built:1986
  • Subdivision & Development:Chesapeake Condominium
  • Listing ID #:7009928
  • Updated:August 22, 2026 at 03:37 PM

Rooms and interior

  • Bedrooms:2
  • Total bathrooms:2
  • Flooring:Carpet, Tile
  • Living area:941 sq. ft.

Heating and cooling

  • Heating:Electric
  • Central air:Yes

Structure and exterior

  • Year built:1986
  • Building area:941 sq. ft.
  • Lot area:0.03 Acres
  • Lot Features:Borders Common Area, Grass Back, Grass Front, North/South Exposure
  • Construction Materials:Brick Veneer, Painted
  • Exterior Features:Balcony, Storage

Schools

  • High school:Tempe High School
  • Middle school:Connolly Middle School
  • Elementary school:Broadmor Elementary School

Utilities

  • Water:City Water

Finances and disclosures

  • Price:$249,900
  • Price per sq. ft.:$265.57
  • Tax amount:$1,195 (2025)

Parking

  • Parking description:Assigned
  • Carport spaces:1
MLS LogoAll information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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