Ground-Floor Residential Income
For Sale
$179,900
200 E SOUTHERN Avenue 103, Tempe, AZ 85282
The unit includes an open living area, a walk-in bedroom closet, in-unit laundry, and a covered patio with storage.
Property Size693 SF
Days on Market13
Property Features for 200 E SOUTHERN Avenue 103
General Information
Standard status
Active
Size
693 SF
Property subtype
Apartment
Site & Location
Neighborhood
Chesapeake
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$906
Amenities
washer and dryer
covered patio
pool
spa
Building Details
Building Size
693 SF
Year Built
1986
Listing Agency:
RE/MAX Fine Properties
Listed By:
Cynthia Thompson · License #BR649299000
(480) 589-1946
Source:
Gillettegroupaz
Added: Oct 22
Changed: Oct 31
Last Checked: Nov 1 at 12:49PM
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 RE/MAX Fine Properties
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Investment Insights
Based on property information with market context.
This ground-floor condominium was built in 1986 and has an open living room, a kitchen with ample cabinetry, and a bedroom with a walk-in closet. A washer and dryer are included. The covered patio provides additional storage space.
Residents have access to community pools, a spa, and landscaped grounds. The property is in Tempe, minutes from ASU and downtown, with nearby shopping, dining, and fitness options. US-60, Loop 202, and light rail are accessible from the area.
Residents have access to community pools, a spa, and landscaped grounds. The property is in Tempe, minutes from ASU and downtown, with nearby shopping, dining, and fitness options. US-60, Loop 202, and light rail are accessible from the area.
Key Highlights
- Ground‑floor condominium built in 1986
- Open living room and kitchen with ample cabinetry
- Bedroom with walk‑in closet
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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 an open living area, a walk-in bedroom closet, in-unit laundry, and a covered patio with storage.
Where is this residential income property located?
The property is located at 200 E SOUTHERN Avenue 103 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: Ground‑floor condominium built in 1986; Open living room and kitchen with ample cabinetry; Bedroom with walk‑in closet
