Residential Condominium with Covered
For Sale
$259,900
200 E SOUTHERN Avenue 123, Tempe, AZ 85282
The unit includes granite countertops, an electric fireplace, in-unit laundry, and appliances.
Property Size941 SF
Price / SF$276.20
Days on Market90
Property Features for 200 E SOUTHERN Avenue 123
General Information
Standard status
Active
Size
941 SF
Property subtype
Apartment
Site & Location
Neighborhood
Chesapeake
Taxes and HOA fees
Annual Taxes
$1,195
Amenities
pool
heated spa
grilling facilities
community clubhouse
Building Details
Building Size
941 SF
Year Built
1986
Listing Agency:
Apex Residential
Listed By:
Jim Steimer · License #SA032804000
(602) 430-8666
Source:
Inspiredrealestatelife
Added: Jul 31
Changed: Oct 26
Last Checked: Oct 26 at 2:37PM
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 Apex Residential
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Investment Insights
Based on property information with market context.
This residential condominium offers 941 square feet of interior space. The unit has granite countertops, an electric fireplace, in-unit laundry, and appliances. Fresh paint and carpet are also noted, along with a covered patio. The building dates to 1986.
Shared community amenities include two pools, one with a heated spa, grilling facilities, and a clubhouse. The property is near Arizona State University and downtown Tempe.
Shared community amenities include two pools, one with a heated spa, grilling facilities, and a clubhouse. The property is near Arizona State University and downtown Tempe.
Key Highlights
- 941 square feet of interior space
- Covered patio
- Granite countertops and electric fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,754
Cap Rate
4.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$255,080
$255.1K
Cap Rate 7%
$182,200
$182.2K
Cap Rate 9%
$141,711
$141.7K
Market Conditions
NOI Build-Up for 941 SF
Gross rent
$24.6K $26.16/SF
− Vacancy
−$1.4K −$1.52/SF
EGI
$23.2K $24.64/SF
− OpEx
−$10.4K −$11.09/SF
NOI
$12.8K $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%
$255,080
Cap Rate 7%
$182,200
Cap Rate 9%
$141,711
Alternative Uses
Best Use
Apartment 5plus
$182.2K
$159.4K – $212.6K
NOI $12,754 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$295.9K
$258.9K – $345.2K
NOI $20,714 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
1,252
Businesses Nearby
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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 granite countertops, an electric fireplace, in-unit laundry, and appliances.
Where is this residential income property located?
The property is located at 200 E SOUTHERN Avenue 123 Tempe, AZ.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: 941 square feet of interior space; Covered patio; Granite countertops and electric fireplace
