Residential Income Property with Updated
For Sale
$175,000
200 E SOUTHERN Avenue #270, Tempe, AZ 85282
The one-bedroom, one-bath condominium includes in-unit laundry and access to two pools, a hot tub, clubhouse, and BBQ areas.
Property Size693 SF
Days on Market130
Property Features for 200 E SOUTHERN Avenue #270
General Information
Standard status
Active
Size
693 SF
Property subtype
Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Amenities
pool
hot tub
clubhouse
BBQ areas
Building Details
Building Size
693 SF
Year Built
1986
Stories
3
Listing Agency:
My Home Group Real Estate
Listed By:
Albert Bui
(480) 559-4244
Source:
Karolinakemski.kw
Added: May 30
Changed: Oct 4
Last Checked: Oct 5 at 3:34PM
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 My Home Group Real Estate
Investment Insights
Based on property information with market context.
This one-bedroom, one-bath condominium at Chesapeake Condominiums has an open living and kitchen layout, granite countertops, stainless steel appliances, a glass cooktop, and a subway tile backsplash. A stacked washer and dryer is included. Luxury vinyl plank flooring and Swiss Coffee interior paint were professionally installed in 2023, and Kohler faucets were added at the kitchen and bathroom sinks in 2024. The Trane A/C system dates to 2021 and comes with a transferable twice-yearly preventive maintenance package.
Community amenities include two pools, a hot tub, a clubhouse, and BBQ areas. The property is along Orbit’s College Avenue Route, with LA Fitness across the street. Arizona State University, Tempe Town Lake, light rail, Sky Harbor International Airport, dining, shopping, parks, and major freeways are described as nearby.
Community amenities include two pools, a hot tub, a clubhouse, and BBQ areas. The property is along Orbit’s College Avenue Route, with LA Fitness across the street. Arizona State University, Tempe Town Lake, light rail, Sky Harbor International Airport, dining, shopping, parks, and major freeways are described as nearby.
Key Highlights
- One‑bedroom, one‑bath condominium at Chesapeake Condominiums
- Professionally installed luxury vinyl plank flooring and Swiss Coffee paint, both completed in 2023
- Trane A/C installed in 2021 with transferable twice‑yearly preventive maintenance package
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,393
Cap Rate
5.37%
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 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$217.9K
$190.7K – $254.3K
NOI $15,255 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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 one-bedroom, one-bath condominium includes in-unit laundry and access to two pools, a hot tub, clubhouse, and BBQ areas.
Where is this residential income property located?
The property is located at 200 E SOUTHERN Avenue #270 Tempe, AZ.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: One‑bedroom, one‑bath condominium at Chesapeake Condominiums; Professionally installed luxury vinyl plank flooring and Swiss Coffee paint, both completed in 2023; Trane A/C installed in 2021 with transferable twice‑yearly preventive maintenance package
