200 E SOUTHERN Avenue 224, Tempe, AZ 85282

$249,900
Property Type: Residential Bedrooms: 2 Baths: 2 Square Footage: 941 Lot Size (sq. ft.): 1,202 Status: Active
Current Price: $249,900 List Date: 5/04/2026 Last Modified: 7/14/2026

Overview

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.

Supplements: 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 stabili ...

Listing Details MLS# 7009928

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
Unit #
224
Building Number
D
Assessor's Map #
46
Legal Description (Abbrev)
LOT 224 CHESAPEAKE CONDOMINIUM MCR 083937
Assessor's Parcel #
233
Tax Municipality
Tempe
Taxes
1195

Contract Information

Type
Exclusive Right To Sell
Ownership
Condominium
Co-Ownership (Fractional) Agreement YN
No

General Property Description

Dwelling Type
Apartment
Dwelling Styles
Stacked
Exterior Stories
2
# of Interior Levels
Yes
# 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
Yes
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
Half Bathrooms
0

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

Legal Info

Township
1N
Range
4E
Section
27
Lot Number
224

Basement

Basement Y/N
N

More Information

Parking Spaces

Carport Spaces
Yes
Total Covered Spaces
Yes
Slab Parking Spaces
0

Showing Notification Methods

Showing Service
No Showing Service Used
Text
Yes
Email
Yes
Phone Call
Yes

Special Listing Cond

N/A
Yes

Construction

Wood Frame
Yes

Const - Finish

Wood Siding
Yes
Painted
Yes
Brick Veneer
Yes

Roofing

Tile
Yes

Association & Fees

HOA Y/N
Y
HOA Disclosure/Addendum Affirmation
Yes
HOA Transfer Fee
0
HOA Fee
445.39
HOA Paid Frequency
Monthly
HOA Name
Chesapeake Owners
HOA Telephone
602-437-777
HOA Management Company
City Property Mgmt.
Special Assessment HOA
No
HOA 2 Y/N
N
PAD Fee Y/N
N
Cap Improvement/Impact Fee
500
Cap Improvement/Impact Fee $/%
$
Prepaid Association Fees HOA
890.78
Disclosure Fees HOA
400
Other Fees HOA
100
Other Fees Description
New owner setup fee
Land Lease Fee Y/N
N
Rec Center Fee Y/N
N
Ttl Mthly Fee Equiv
445.39

Lockbox Type

Supra
Yes

Master Bathroom

Full Bth Master Bdrm
Yes

Master Bedroom

Split
Yes

Additional Bedroom

Other Bedroom Split
Yes
Master Bedroom Walk-in Closet
Yes
Other Bedroom Walk-in Closet
Yes

Fireplace Features

Fireplace Living Rm
Yes

Flooring

Carpet
Yes
Tile
Yes

Community Features

Community Laundry
Yes
Community Spa
Yes
Near Bus Stop
Yes

Dining Area

Dining in LR/GR
Yes

Heating

Electric
Yes

View

City
Yes

Kitchen Features

Dishwasher
Yes
Disposal
Yes
Electric Range
Yes
Built-in Microwave
Yes
Refrigerator
Yes
Granite Counters
Yes

Cooling

Central Air
Yes

Interior Features

Vaulted Ceiling(s)
Yes
No Interior Steps
Yes

Laundry

Washer Included
Yes
Dryer Included
Yes
Inside
Yes

Other Rooms

Great Room
Yes

Separate Den/Office

Sep Den/Office Y/N
N

Road Access Type

City Street
Yes
Private Road
Yes

Road Surface Type

Paved
Yes

Road Responsibility

Private Maintained Road
Yes

Fencing

Wood
Yes

Water Source

City Water
Yes

Community Pool Features

Fenced
Yes
Outdoor
Yes

Exterior Features

Balcony
Yes
Storage
Yes

Spa

Heated
Yes

Sewer

Sewer - Public
Yes

Parking Features

Assigned Parking
Yes
Detached Carport
Yes

New Financing

Cash
Yes
Cash to Loan
Yes
1031 Exchange
Yes

Utilities

SRP
Yes

Existing 1st Loan

Conventional
Yes

Existing 1st Loan Terms

Non Assumable
Yes

Property Description

North/South Exposure
Yes
Borders Common Area
Yes

Landscaping

Grass Front
Yes
Grass Back
Yes

Services

City Services
Yes

Unit Style

All on One Level
Yes
Two Common Walls
Yes
Neighbor Below
Yes
End Unit
Yes
Courtyard Facing
Yes
Street Facing
Yes

Disclosures

Seller Discl Avail
Yes

Possession

Subject To Tenant Rights
Yes

Association Fee Incl

Exterior Mnt of Unit
Yes
Roof Repair
Yes
Roof Replacement
Yes
Blanket Ins Policy
Yes
Water
Yes
Sewer
Yes
Garbage Collection
Yes
Common Area Maint
Yes
Street Maint
Yes

Assoc Rules/Info

Pets OK (See Rmrks)
Yes
No Visible Truck Trailer RV Boat
Yes
Rental OK (See Rmks)
Yes
Prof Managed
Yes

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
IDX
Listing Office: Delex Realty
Last Updated: July - 14 - 2026
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