Residential Income Property with
For Sale
$269,000
2333 E SOUTHERN Avenue 2021, Tempe, AZ 85282
A garage-equipped condo pairs a vaulted main level with a flexible loft and updated interior features.
Property Size905 SF
Days on Market17
Property Features for 2333 E SOUTHERN Avenue 2021
General Information
Standard status
Active
Size
905 SF
Total Parking Spaces
1
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,276
Amenities
outdoor storage
Building Details
Building Size
905 SF
Year Built
1987
Listing Agency:
Epique Realty
Listed By:
Michael J Johnson
(602) 770-7171
Source:
Gillettegroupaz
Added: Oct 1
Changed: Oct 16
Last Checked: Oct 16 at 2:00PM
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 Epique Realty
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Investment Insights
Based on property information with market context.
This Tempe condo, built in 1987, includes a one-car garage, outdoor storage, vaulted ceilings, and a spiral staircase leading to a loft. The kitchen has granite counters, a composite sink, and newer appliances. Double-pane windows and double French entry doors with built-in blinds are also in place. Recent improvements include Bosch HVAC installed in 2024, ceiling fans, and a stackable washer and dryer added in 2025. The bathroom has a replacement vanity, mirror, lighting, and toilet.
The property is near the junction of Loop 101, Loop 202, and US 60.
The property is near the junction of Loop 101, Loop 202, and US 60.
Key Highlights
- Loft reached by spiral staircase; vaulted ceilings in the main living area
- One‑car garage and separate outdoor storage
- Bosch HVAC installed in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,266
Cap Rate
4.56%
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 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$284.6K
$249.0K – $332.0K
NOI $19,921 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
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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 garage-equipped condo pairs a vaulted main level with a flexible loft and updated interior features.
Where is this residential income property located?
The property is located at 2333 E SOUTHERN Avenue 2021 Tempe, AZ.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Loft reached by spiral staircase; vaulted ceilings in the main living area; One‑car garage and separate outdoor storage; Bosch HVAC installed in 2024
