Two-Bedroom Residential Income
For Sale
$308,000
2134 E Broadway Rd #2050, Tempe, AZ 85282
An upstairs condominium has two bedrooms, two baths, newer cabinetry, and access to a community pool and spa.
Property Size1,083 SF
Price / SF$284.40
Days on Market11
Property Features for 2134 E Broadway Rd #2050
General Information
Standard status
Active
Size
1,083 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Amenities
gated community
pool
spa
Building Details
Year Built
1997
Listing Agency:
Apb Valley Spaces
(602) 279-0121
Listed By:
Jeremy Jennings · License #SA684096000
(623) 986-6650
Source:
Theazliving
Added: Sep 26
Changed: Oct 6
Last Checked: Oct 5 at 6:31PM
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 Apb Valley Spaces
Investment Insights
Based on property information with market context.
This 1,083-square-foot upstairs condominium in the gated Villa Real (Arpeggio) community has two bedrooms and two bathrooms. Newer cabinetry and gray quartz countertops complement the living area. The property was built in 1997, and residents have access to a pool and spa.
The Tempe community is near shopping, dining, entertainment, Arizona State University, and the 101 freeway.
The Tempe community is near shopping, dining, entertainment, Arizona State University, and the 101 freeway.
Key Highlights
- Two‑bedroom, two‑bath upstairs condominium
- 1,083 square feet; built in 1997
- Newer cabinetry and gray quartz countertops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,678
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$293,560
$293.6K
Cap Rate 7%
$209,686
$209.7K
Cap Rate 9%
$163,089
$163.1K
Market Conditions
NOI Build-Up for 1,083 SF
Gross rent
$28.3K $26.16/SF
− Vacancy
−$1.6K −$1.52/SF
EGI
$26.7K $24.64/SF
− OpEx
−$12.0K −$11.09/SF
NOI
$14.7K $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%
$293,560
Cap Rate 7%
$209,686
Cap Rate 9%
$163,089
Alternative Uses
Best Use
Apartment 5plus
$209.7K
$183.5K – $244.6K
NOI $14,678 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$340.6K
$298.0K – $397.3K
NOI $23,839 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,060
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 - An upstairs condominium has two bedrooms, two baths, newer cabinetry, and access to a community pool and spa.
Where is this residential income property located?
The property is located at 2134 E Broadway Rd #2050 Tempe, AZ.
What is the asking price?
The asking price for this property is $308,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath upstairs condominium; 1,083 square feet; built in 1997; Newer cabinetry and gray quartz countertops
