200 E SOUTHERN Avenue #224, Tempe, AZ 85282
200 E SOUTHERN Avenue #224, Tempe, AZ 85282
200 E SOUTHERN Avenue #224, Tempe, AZ 85282
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$249,900
Est. payment /mo
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2 Beds
2 Baths
941 SqFt
Price Dropped by $5K

200 E SOUTHERN Avenue #224 Tempe, AZ 85282

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Mark Pekarik

Mark Pekarik

+1(480) 205-0006

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Key Details

Property Type Condo, Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 941 sqft

Price per Sqft $265

Subdivision Chesapeake Condominium

MLS Listing ID 7009928

Bedrooms 2

Full Baths 2

HOA Fees $445/mo

HOA Y/N Yes

Year Built 1986

Annual Tax Amount $1,195

Tax Year 2025

Lot Size 1,202 Sqft

Acres 0.03

Property Sub-Type Apartment

Source Arizona Regional Multiple Listing Service (ARMLS)

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.

Location

State AZ

County Maricopa

Community Chesapeake Condominium

Area Maricopa

Direction 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

Rooms

Other Rooms Great Room

Master Bathroom true

Master Bedroom Split

Den/Bedroom Plus 2

Separate Den/Office N

Interior

Interior Features Granite Counters, No Interior Steps, Vaulted Ceiling(s), Full Bth Master Bdrm

Heating Electric

Cooling Central Air

Flooring Carpet, Tile

Fireplaces Type Living Room

Fireplace Yes

Appliance Dryer, Washer, Refrigerator, Built-in Microwave, Dishwasher, Disposal, Electric Range

SPA Heated

Laundry Inside

Exterior

Exterior Feature Balcony, Storage

Parking Features Detached Carport, Assigned

Carport Spaces 1

Fence Wood

Community Features Pool, Community Spa, Near Bus Stop, Community Laundry

Utilities Available SRP

View City

Roof Type Tile

Private Pool No

Building

Lot Description Borders Common Area, North/South Exposure, Grass Front, Grass Back

Story 2

Builder Name UNK

Sewer Public Sewer

Water City Water

Structure Type Balcony,Storage

New Construction No

Schools

Elementary Schools Broadmor Elementary School

Middle Schools Connolly Middle School

High Schools Tempe High School

School District Tempe Union High School District

Others

HOA Name Chesapeake Owners

HOA Fee Include Roof Repair,Insurance,Sewer,Maintenance Grounds,Street Maint,Trash,Water,Roof Replacement,Maintenance Exterior

Senior Community No

Tax ID 133-46-233

Ownership Condominium

Acceptable Financing Cash, 1031 Exchange

Horse Property N

Disclosures Seller Discl Avail

Possession Subject To Tenant Rights

Listing Terms Cash, 1031 Exchange

Virtual Tour https://www.propertypanorama.com/instaview/armls/7009928

Arizona Regional MLS (ARMLS)

Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

Listed by Delex Realty • Liza Rhima

NEARBY SCHOOL & BUSINESS

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Mark Pekarik

Mark Pekarik

Broker Associate | License ID: 572608000

+1(480) 205-0006

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200 E SOUTHERN Avenue #224