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About the Listing dvpt03 - lr212
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.
Listing Highlights
Interior Details
- Bedrooms: 2
- Bathrooms: 2 Full
- Appliances:
- Air Cond: Central Air
- Heating: Electric
- Fireplaces: Living Room
- Floor: Carpet,Tile
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Granite Counters,No Interior Steps,Vaulted Ceiling(s),Full Bth Master Bdrm
- Water: City Water
Exterior Details
- Lot Description: Borders Common Area,North/South Exposure,Grass Front,Grass Back
- Garage Capacity: N/A
- Roof: Tile
- Others: Balcony,Storage
- Sewer: Public Sewer
- Parking Features: Detached Carport,Assigned
Financial Details
- Tax Amount: $1,195
- Taxes w/Assessments: N/A
- Tax/Property ID: 133-46-233
- Tax Year: 2025
Payment Calculator
Monthly Payment
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- in Taxes
Questions About..
200 E Southern Ave Unit 224 Tempe, AZ 85282
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