Ground-Level Residential
New
For Sale
$179,900
200 E Southern Ave #171, Tempe, AZ 85282
The unit includes in-home laundry and access to a community pool and clubhouse.
Property Size693 SF
Price / SF$259.60
Days on Market7
Property Features for 200 E Southern Ave #171
General Information
Standard status
Active
Size
693 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Amenities
pool
clubhouse
inside laundry
Building Details
Year Built
1986
Listing Agency:
Delex Realty
(602) 910-3002
Listed By:
Brandon Howe Team
(602) 909-6513
Source:
Howerealtygroup
Added: Oct 9
Changed: Oct 15
Last Checked: Oct 14 at 10:48PM
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 Delex Realty
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Investment Insights
Based on property information with market context.
This 693-square-foot, ground-level condominium was built in 1986 and has one bedroom and one bathroom. Interior updates include quartz kitchen counters, cabinetry, stainless steel appliances, an updated bathroom, wood-look tile, and bedroom carpeting. An in-unit laundry area is also included.
Residents have access to a community pool and clubhouse near the unit.
Residents have access to a community pool and clubhouse near the unit.
Key Highlights
- 693‑square‑foot condo with one bedroom and one bathroom
- Ground‑level unit with in‑home laundry
- Kitchen features quartz countertops, updated cabinetry, and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,393
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$187,860
$187.9K
Cap Rate 7%
$134,186
$134.2K
Cap Rate 9%
$104,367
$104.4K
Market Conditions
NOI Build-Up for 693 SF
Gross rent
$18.1K $26.16/SF
− Vacancy
−$1.1K −$1.52/SF
EGI
$17.1K $24.64/SF
− OpEx
−$7.7K −$11.09/SF
NOI
$9.4K $13.55/SF
Area
Tempe, AZ
Vacancy
5.80%
Lease Rate
$26.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$187,860
Cap Rate 7%
$134,186
Cap Rate 9%
$104,367
Alternative Uses
Best Use
Apartment 5plus
$134.2K
$117.4K – $156.6K
NOI $9,393 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$217.9K
$190.7K – $254.3K
NOI $15,255 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,252
Businesses Nearby
Explore this area
Business Placement
Demographics for 85282, AZ
52,351
Population
25,667
Households
2
Avg Household Size
33
Median Age
44%
College-Educated
94%
High-School Grad
11.1 sq mi
ZIP Area
4,716
Density / Sq Mi
$79,084
Median Household Income
$43,863
Median Earnings
$1,627
Median Rent
$370,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The unit includes in-home laundry and access to a community pool and clubhouse.
Where is this residential income property located?
The property is located at 200 E Southern Ave #171 Tempe, AZ.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: 693‑square‑foot condo with one bedroom and one bathroom; Ground‑level unit with in‑home laundry; Kitchen features quartz countertops, updated cabinetry, and stainless steel appliances
