200 E SOUTHERN Avenue Unit 224

About this residence

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.

Building & HOA

Building

Chesapeake

Year built

1986

HOA dues

$445 / mo

Property type

Apartment

MLS #

7009928

Status

Active

Listing provided courtesy of Delex Realty (602-910-3002).

Location

200 E SOUTHERN Avenue Unit 224