$249,900
Tempe, AZ 85282
MLS# 7009928
2 beds | 2 baths
1 / 30
Property Description
ASU-AREA INVESTOR OPPORTUNITY in the heart of Tempe! Tenant-occupied 2 bed / 2 bath condo offering immediate rental income and future upside potential. Desirable split floorplan with inside laundry, spacious living areas, a private shaded balcony, and covered parking. Sought-after location approximately 2.5 miles from ASU with convenient access to shopping, dining, major Valley employment centers, and freeways. | An attractive opportunity for buy-and-hold investors, portfolio growth, and 1031 Exchange buyers. Following the current lease, explore future Long-Term or Mid-Term rental strategies, subject to HOA rules and buyer verification. Situated in an always-in-demand rental hub with local property management available for seamless out-of-state portfolios. |
Details
Maps
Contract Information
List Price: $249,900
Status: Active
Current Price: $249,900
List Date: 2026-04-04
Type: Exclusive Right To Sell
Ownership: Condominium
Co-Ownership (Fractional) Agreement YN: No
Location, Tax & Legal
House Number: 200
Compass: E
Street Name: SOUTHERN
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85282
Zip4: 5156
Country: US
County Code: Maricopa
Assessor Number: 133-46-233
Subdivision: Chesapeake Condominium
Tax Year: 2025
General Property Description
Dwelling Type: Apartment
Dwelling Styles: Stacked
Exterior Stories: 2
# of Interior Levels: 1
# Bedrooms: 2
Full Bathrooms: 2
Total Bathrooms: 2
Approx SQFT: 941
Price/SqFt: 265.57
Horses: N
Builder Name: UNK
Year Built: 1986
Approx Lot SqFt: 1202
Approx Lot Acres: 0.028
Flood Zone: No
Community Pool Y/N: Yes
Private Pool Y/N: No
Fireplace YN: Yes
Fireplaces Total: 1
Marketing Name: Chesapeake Condominium
Elementary School District: Tempe School District
High School District: Tempe Union High School District
Elementary School: Broadmor Elementary School
Jr. High School: Connolly Middle School
High School: Tempe High School
Legal Info
Township: 1N
Range: 4E
Section: 27
Lot Number: 224
Showing Notification Methods
Showing Service: No Showing Service Used
Basement
Basement Y/N: N
Parking Spaces
Carport Spaces: 1
Total Covered Spaces: 1
Remarks Misc
Cross Street: Southern Ave and Mill Ave
Directions: Head east on E Southern Ave - Turn Left at entrance just before Chesapeake Condominium sign - Turn Right at end - Park at visitor spaces - Take 2nd walkway and go past the clubhouse and pool to Building D - Turn Right at end into stairway and go up - Unit will be on your Left
Geo Lat: 33.393141
Geo Lon: -111.936141
Property Features
Special Listing Cond: N/A
Master Bathroom: Full Bth Master Bdrm
Master Bedroom: Split
Additional Bedroom: Other Bedroom Split; Master Bedroom Walk-in Closet; Other Bedroom Walk-in Closet
Fireplace Features: Fireplace Living Rm
Flooring: Carpet; Tile
Community Pool Features: Fenced; Outdoor
Spa: Heated
Community Features: Community Laundry; Community Spa; Near Bus Stop
Dining Area: Dining in LR/GR
Kitchen Features: Electric Range; Disposal; Dishwasher; Built-in Microwave; Refrigerator; Granite Counters
Laundry: Washer Included; Dryer Included; Inside
Other Rooms: Great Room
Interior Features: Vaulted Ceiling(s); No Interior Steps
Exterior Features: Balcony; Storage
Parking Features: Detached Carport; Assigned Parking
Road Access Type: City Street; Private Road
Road Surface Type: Paved
Road Responsibility: Private Maintained Road
Construction: Wood Frame
Const - Finish: Wood Siding; Painted; Brick Veneer
Roofing: Tile
Cooling: Central Air
Heating: Electric
Utilities: SRP
Water Source: City Water
Sewer: Sewer - Public
Services: City Services
Fencing: Wood
Property Description: North/South Exposure; Borders Common Area
Landscaping: Grass Front; Grass Back
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: Supra
Possession: Subject To Tenant Rights
Unit Style: All on One Level; Two Common Walls; Neighbor Below; End Unit; Courtyard Facing; Street Facing
Association Fee Incl: Exterior Mnt of Unit; Roof Repair; Roof Replacement; Blanket Ins Policy; Water; Sewer; Garbage Collection; Common Area Maint; Street Maint
Existing 1st Loan: Conventional
Existing 1st Loan Terms: Non Assumable
New Financing: Cash; Cash to Loan; 1031 Exchange
Disclosures: Seller Discl Avail
Supplements
One of the few locations to allow 30+ day mid-term rentals (MTR). Capitalize on high-yielding transitional academic stays, corporate, and traveling medical staff. HOA dues include exterior maintenance, roofing, blanket insurance, water, sewer, trash, and access to 2 heated pools and hot tubs. Financing eligibility is subject to lender/project approval and may include conventional, portfolio, DSCR, non-QM, or other alternative financing depending on lender, borrower, and project approval. Investor analysis may be provided upon request. Buyer to independently verify all facts, rental rules, financing, and project eligibility.
Listing Office: DeLex Realty
Last Updated: September - 03 - 2026
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