200 E Southern Avenue Unit 224, Tempe, AZ 85282
- $249,900
- 2
- BD
- 2
- BA
- 941
- SqFt
- List Price
- $249,900
- Price Change
- ▼ $5,100 1781150947
- Days on Market
- 159
- Status
- ACTIVE
- MLS#
- 7009928
- City
- Tempe
- Bedrooms
- 2
- Bathrooms
- 2
- Living SQFT
- 941
- Lot Size
- 1,202
- Subdivision
- Chesapeake Condominium
- Year Built
- 1986
- Type
- Apartment
Property Description
ASU-AREA INVESTOR OPPORTUNITY in the heart of Tempe! Tenant-occupied 2 bed / 2 bath condo offering immediate rental income and future upside potential. Desirable split floorplan with inside laundry, spacious living areas, a private shaded balcony, and covered parking. Sought-after location approximately 2.5 miles from ASU with convenient access to shopping, dining, major Valley employment centers, and freeways. | An attractive opportunity for buy-and-hold investors, portfolio growth, and 1031 Exchange buyers. Following the current lease, explore future Long-Term or Mid-Term rental strategies, subject to HOA rules and buyer verification. Situated in an always-in-demand rental hub with local property management available for seamless out-of-state portfolios. | One of the few locations to allow 30+ day mid-term rentals (MTR). Capitalize on high-yielding transitional academic stays, corporate, and traveling medical staff. HOA dues include exterior maintenance, roofing, blanket insurance, water, sewer, trash, and access to 2 heated pools and hot tubs. Financing eligibility is subject to lender/project approval and may include conventional, portfolio, DSCR, non-QM, or other alternative financing depending on lender, borrower, and project approval. Investor analysis may be provided upon request. Buyer to independently verify all facts, rental rules, financing, and project eligibility.
Additional Information
- Elementary School
- Broadmor Elementary School
- High School
- Tempe High School
- Middle School
- Connolly Middle School
- Acres
- 0.03
- Assoc Fee Includes
- Maintenance Exterior, Roof Repair, Roof Replacement, Insurance, Water, Sewer, Trash, Maintenance Grounds, Street Maint
- Hoa Fee
- $445
- Hoa Fee Frequency
- Monthly
- Hoa
- Yes
- Hoa Name
- Chesapeake Owners
- Builder Name
- UNK
- Community Features
- Community Laundry, Community Spa, Near Bus Stop
- Construction
- Wood Frame, Painted, Brick Veneer, Wood Siding
- Cooling
- Central Air
- Exterior Features
- Balcony, Storage
- Fencing
- Wood
- Fireplace
- Living Room
- Flooring
- Carpet, Tile
- Heating
- Electric
- Laundry
- Inside
- Living Area
- 941
- Lot Size
- 1,202
- New Financing
- Cash, Cash to Loan, 1031 Exchange
- Other Rooms
- Great Room
- Parking Features
- Assigned Parking, Detached Carport
- Lot Features
- North/South Exposure, Borders Common Area, Grass Front, Grass Back
- Roofing
- Tile
- Spa
- Heated
- Stories
- 2
- Subdivision
- Chesapeake Condominium
- Taxes
- $1,195
- Tax Year
- 2025
- Water
- Public
Courtesy of DeLex Realty. 602-910-3002
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