Residential Income Condo with
For Sale
$169,900
200 E SOUTHERN Avenue 236, Tempe, AZ 85282
The condo includes a private balcony overlooking one of the community’s two swimming pools.
Property Size622 SF
Price / SF$273.15
Days on Market136
Property Features for 200 E SOUTHERN Avenue 236
General Information
Standard status
Active
Size
622 SF
Property subtype
Apartment
Site & Location
Neighborhood
Chesapeake
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$826
Amenities
community pool
private balcony
Building Details
Building Size
622 SF
Year Built
1986
Listing Agency:
West USA Realty
Listed By:
Darlene Schmitt
(602) 770-4213
Source:
Inspiredrealestatelife
Added: Jun 20
Changed: Oct 27
Last Checked: Oct 30 at 3:07AM
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 West USA Realty
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Investment Insights
Based on property information with market context.
This 622-square-foot, one-bedroom condo was built in 1986 and has new carpet throughout. A private balcony overlooks one of the community’s two pools, and the unit also offers ample storage.
Arizona State University is minutes away. Fate Brewing, LA Fitness, shopping, dining, and entertainment are across the street.
Arizona State University is minutes away. Fate Brewing, LA Fitness, shopping, dining, and entertainment are across the street.
Key Highlights
- 622‑square‑foot, one‑bedroom condo
- Private balcony overlooking one of two community pools
- New carpet throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,430
Cap Rate
4.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$168,600
$168.6K
Cap Rate 7%
$120,429
$120.4K
Cap Rate 9%
$93,667
$93.7K
Market Conditions
NOI Build-Up for 622 SF
Gross rent
$16.3K $26.16/SF
− Vacancy
−$944 −$1.52/SF
EGI
$15.3K $24.64/SF
− OpEx
−$6.9K −$11.09/SF
NOI
$8.4K $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%
$168,600
Cap Rate 7%
$120,429
Cap Rate 9%
$93,667
Alternative Uses
Best Use
Apartment 5plus
$120.4K
$105.4K – $140.5K
NOI $8,430 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$195.6K
$171.2K – $228.2K
NOI $13,692 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
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 condo includes a private balcony overlooking one of the community’s two swimming pools.
Where is this residential income property located?
The property is located at 200 E SOUTHERN Avenue 236 Tempe, AZ.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: 622‑square‑foot, one‑bedroom condo; Private balcony overlooking one of two community pools; New carpet throughout
