Remodeled Residential Income
For Sale
$245,000
1402 E GUADALUPE Road 216, Tempe, AZ 85283
Updated condominium with upgraded interiors and access to shared pool, spa, and fitness amenities.
Property Size1,112 SF
Days on Market67
Property Features for 1402 E GUADALUPE Road 216
General Information
Standard status
Active
Size
1,112 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,016
Amenities
community pool
spa
fitness center
Building Details
Building Size
1,112 SF
Year Built
1986
Listing Agency:
Highland Real Estate
(602) 510-1492
Listed By:
Phillip Geretti · License #BR046673000
(602) 510-1492
Source:
Gillettegroupaz
Added: May 30
Changed: Aug 3
Last Checked: Aug 4 at 9:15AM
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 Highland Real Estate
Investment Insights
Based on property information with market context.
This condominium in the La Tierra community was remodeled with a revised kitchen featuring maple cabinetry and granite countertops. Both bathrooms have been upgraded, and the residence includes new ceiling fans and a newer water heater. Built in 1986, the property combines updated interior finishes with established community amenities.
Residents have access to a community pool, spa, and fitness center. The property is located at 1402 E GUADALUPE Road 216 in Tempe, with access to the 60 and 101. Arizona State University, Scottsdale, Chandler, Gilbert, Mesa, and Kiwanis Park are within the surrounding area, with Kiwanis Park offering a recreation center, lake, and walking paths.
Residents have access to a community pool, spa, and fitness center. The property is located at 1402 E GUADALUPE Road 216 in Tempe, with access to the 60 and 101. Arizona State University, Scottsdale, Chandler, Gilbert, Mesa, and Kiwanis Park are within the surrounding area, with Kiwanis Park offering a recreation center, lake, and walking paths.
Key Highlights
- Remodeled condominium in the La Tierra community
- Kitchen with maple cabinetry, granite countertops, and updated layout
- Both bathrooms upgraded
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.1k | $26.16 |
| − Vacancy | −$1.7k | −$1.52 |
| EGI | $27.4k | $24.64 |
| − OpEx | −$12.3k | −$11.09 |
| NOI | $15.1k | $13.55 |
1,112 SF · lease $26.16/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$215.3K
$188.4K – $251.2K
NOI $15,071 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$349.7K
$306.0K – $408.0K
NOI $24,478 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
897
Businesses Nearby
Explore this area
Business Placement
Demographics for 85283, AZ
45,736
Population
20,620
Households
2.2
Avg Household Size
35
Median Age
44%
College-Educated
93%
High-School Grad
8.8 sq mi
ZIP Area
5,197
Density / Sq Mi
$81,073
Median Household Income
$47,213
Median Earnings
$1,669
Median Rent
$409,800
Median Home Value
Market
Properties on Market for Residential income properties in Tempe
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium with upgraded interiors and access to shared pool, spa, and fitness amenities.
Where is this residential income property located?
The property is located at 1402 E GUADALUPE Road 216 Tempe, AZ.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Remodeled condominium in the La Tierra community; Kitchen with maple cabinetry, granite countertops, and updated layout; Both bathrooms upgraded
