Remodeled Condo with Attached
For Sale
$255,000
2333 E Southern Ave #2081, Tempe, AZ 85282
A loft, in-unit laundry, and private patio add practical flexibility to this residential unit.
Property Size905 SF
Price / SF$281.77
Days on Market9
Property Features for 2333 E Southern Ave #2081
General Information
Standard status
Active
Size
905 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
in-unit laundry
private front patio
exterior storage closet
pool
spa
workout room
Building Details
Year Built
1985
Listing Agency:
Compass
(480) 776-1555
Listed By:
Tucker and Oleg
(602) 688-2836
Source:
Kennethjamesrealty
Added: Sep 28
Changed: Oct 6
Last Checked: Oct 5 at 6:12PM
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 Compass
Investment Insights
Based on property information with market context.
This 905-square-foot condo was built in 1985 and has been remodeled. Its open interior includes a bedroom with a walk-in closet, an upstairs loft, and a spiral staircase. The kitchen features shaker-style cabinets, quartz countertops, a backsplash, and stainless steel appliances. An updated bathroom and in-unit laundry closet with a stackable washer and dryer round out the interior. A private front patio, exterior storage closet, and attached one-car garage with direct home access provide additional features.
Community amenities include a pool, spa, and workout room. The HOA fee covers water, sewer, and trash. The property is near Loop 101, with access to Tempe, Scottsdale, Phoenix, and ASU.
Community amenities include a pool, spa, and workout room. The HOA fee covers water, sewer, and trash. The property is near Loop 101, with access to Tempe, Scottsdale, Phoenix, and ASU.
Key Highlights
- 905‑square‑foot condo built in 1985
- Attached one‑car garage with direct access into the home
- Bedroom with walk‑in closet plus an upstairs loft
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,266
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$245,320
$245.3K
Cap Rate 7%
$175,229
$175.2K
Cap Rate 9%
$136,289
$136.3K
Market Conditions
NOI Build-Up for 905 SF
Gross rent
$23.7K $26.16/SF
− Vacancy
−$1.4K −$1.52/SF
EGI
$22.3K $24.64/SF
− OpEx
−$10.0K −$11.09/SF
NOI
$12.3K $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%
$245,320
Cap Rate 7%
$175,229
Cap Rate 9%
$136,289
Alternative Uses
Best Use
Apartment 5plus
$175.2K
$153.3K – $204.4K
NOI $12,266 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$284.6K
$249.0K – $332.0K
NOI $19,921 @ 7.0% cap · market cap 7.81%
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
1,196
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 - A loft, in-unit laundry, and private patio add practical flexibility to this residential unit.
Where is this residential income property located?
The property is located at 2333 E Southern Ave #2081 Tempe, AZ.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: 905‑square‑foot condo built in 1985; Attached one‑car garage with direct access into the home; Bedroom with walk‑in closet plus an upstairs loft
