MLS# 7009928 – 200 E Southern Avenue Unit 224, Tempe, AZ 85282

$249,900 - 2Br/2Ba - for Sale in Chesapeake Condominium, Tempe
Price: $249,900
Beds: 2
Baths: 2
Living Area SqFt: 941
Status: Active
Property Type: Apartment
Lot Size Acres: 0.03
Lot Size SqFt: 1,202
Year Built: 1986
Neighborhood: Chesapeake Condominium
Days on Website: 73

Courtesy of Delex Realty

Property Description

Investor opportunity in the heart of Tempe! Tenant-occupied 2 bed / 2 bath condo providing immediate rental income with optimized mid-term rental upside potential. This unit features a highly desirable split floorplan, inside laundry, a private shaded balcony, and spacious living areas. Unbeatable location just 2.5 miles from ASU, shopping, dining, major valley employers, and immediate freeway access. An attractive option for buy-and-hold investors, 1031 Exchange buyers, and portfolio growth. Active HOA community repair projects offer a built-in equity cushion and long-term value enhancement. Dues cover exterior maintenance, roofing, blanket insurance, water, sewer, trash, and access to 2 heated pools and hot tubs. Buyer to independently verify all property rules. Highest & Best Use Strategy: While currently stabilized as a long-term rental, this asset is primed for an optimized roadmap to transition into a premium 30-to-90+ day Mid-Term Rental (MTR) to capitalize on high-yielding traveling medical, corporate, and transitional academic stays. Financing & Cash Advantage: Due to ongoing community asset stabilization and repair cycles, this property is currently non-warrantable and requires an all-cash close. Cash investors can capitalize on this status to bypass financed retail competition. Turnkey Rental Infrastructure: Property is situated in an always-in-demand rental hub with local property management infrastructure available for seamless out-of-state portfolio integration. Pro Forma Availability: Data-backed pro forma models outlining both the stabilized long-term rental math and optimized mid-term rental metrics are available upon request.

Open House

Property Details and Features

  • Appliances & Equipment
  • “Dryer”
  • “Washer”
  • “Refrigerator”
  • “Built-in Microwave”
  • “Dishwasher”
  • “Disposal”
  • “Electric Range”
  • Bathrooms
  • 2 full bathrooms
  • 2 total bathrooms
  • Bedrooms
  • 2 total bedrooms
  • Building
  • Built in 1986
  • Living area: 941
  • Construction materials: “Brick Veneer”, “Wood Siding”, “Wood Frame”, “Painted”
  • Cooling
  • “Central Air”
  • Exterior Features
  • “Balcony”
  • “Storage”
  • Fence
  • “Wood”
  • Fireplaces
  • “Living Room”
  • 1 total fireplace
  • Floors
  • “Carpet”
  • “Tile”
  • Heating
  • “Electric”
  • Home Owner’s Association
  • Association fee: $445
  • Association fee frequency: Monthly
  • Association fee includes: “Roof Repair”, “Insurance”, “Sewer”, “Maintenance Grounds”, “Street Maint”, “Trash”, “Water”, “Roof Replacement”, “Maintenance Exterior”
  • Interior Features
  • “Granite Counters”
  • “No Interior Steps”
  • “Vaulted Ceiling(s)”
  • “Full Bth Master Bdrm”
  • Laundry
  • “Inside”
  • Listing
  • Listing ID: 7009928
  • Standard status: Active
  • 75 days on market
  • Location
  • Subdivision name: Chesapeake Condominium
  • Lot
  • 0.03 acres
  • 1,202 sqft
  • “Borders Common Area”
  • “North/South Exposure”
  • “Grass Front”
  • “Grass Back”
  • Parking
  • “Detached Carport”
  • “Assigned”
  • Possession
  • “Subject To Tenant Rights”
  • Property
  • View: “City”
  • Roof
  • “Tile”
  • Schools
  • Elementary school: Broadmor Elementary School
  • High school: Tempe High School
  • High school district: Tempe Union High School District
  • Sewer
  • “Public Sewer”
  • Taxes
  • Annual amount: $1,195
  • Lot: 224

Property Map

$249,900 – 200 E Southern Avenue Unit 224, Tempe, AZ 85282

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This content last updated on July 16, 2026 8:15AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.

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