2-Bedroom Residential Income
For Sale
$425,000
5200 S Lakeshore Dr #207, Tempe, AZ 85283
Remodeled unit with a garage and upgraded interior finishes, near ASU and restaurants within walking distance.
Property Size1,742 SF
Price / SF$243.97
Days on Market66
Property Features for 5200 S Lakeshore Dr #207
General Information
Standard status
Active
Size
1,742 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Building Details
Year Built
1983
Year Renovated
2020
Listing Agency:
Exp Realty
(602) 758-3123
Listed By:
Jeremy Jennings · License #SA684096000
(623) 986-6650
Source:
Theazliving
Added: Aug 15
Changed: Oct 16
Last Checked: Oct 19 at 6:30AM
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 Exp Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This residential income property is a two-bedroom, two-bathroom unit with a two-car garage and a complete interior remodel completed in 2020. Improvements include new cabinets, countertops, backsplash, appliances, LED lighting, and LVP flooring, creating a substantially updated living environment within a property built in 1988.
The unit is located near ASU, with restaurants positioned directly across the street and accessible on foot. The combination of bedroom and bathroom count, garage capacity, and documented interior improvements provides a clear overview of the property’s configuration and condition.
The unit is located near ASU, with restaurants positioned directly across the street and accessible on foot. The combination of bedroom and bathroom count, garage capacity, and documented interior improvements provides a clear overview of the property’s configuration and condition.
Key Highlights
- Two‑bedroom, two‑bathroom residential unit
- Two‑car garage included
- Complete interior remodel completed in 2020
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,610
Cap Rate
5.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,200
$472.2K
Cap Rate 7%
$337,286
$337.3K
Cap Rate 9%
$262,333
$262.3K
Market Conditions
NOI Build-Up for 1,742 SF
Gross rent
$45.6K $26.16/SF
− Vacancy
−$2.6K −$1.52/SF
EGI
$42.9K $24.64/SF
− OpEx
−$19.3K −$11.09/SF
NOI
$23.6K $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%
$472,200
Cap Rate 7%
$337,286
Cap Rate 9%
$262,333
Alternative Uses
Best Use
Apartment 5plus
$337.3K
$295.1K – $393.5K
NOI $23,610 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$547.8K
$479.3K – $639.1K
NOI $38,346 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,301
Businesses Nearby
Explore this area
Business Placement
Demographics for 85283, AZ
45,736
Population
20,620
Households
2.2
Avg Household Size
35
Median Age
44%
College-Educated
93%
High-School Grad
8.8 sq mi
ZIP Area
5,197
Density / Sq Mi
$81,073
Median Household Income
$47,213
Median Earnings
$1,669
Median Rent
$409,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - Remodeled unit with a garage and upgraded interior finishes, near ASU and restaurants within walking distance.
Where is this residential income property located?
The property is located at 5200 S Lakeshore Dr #207 Tempe, AZ.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom residential unit; Two‑car garage included; Complete interior remodel completed in 2020
