$255,000
Tempe, AZ 85282
MLS# 7009928
2 beds | 2 baths
Property Description
Coming Soon - Investor Opportunity: Located in the heart of Tempe, this 2-beds, 2-bath condominium offers a compelling opportunity for investors seeking immediate rental income with long-term upside. Currently tenant-occupied with a lease in place through November 2026, this property provides stable in-place income and future potential for repositioning. - The unit features approx. 941 sqft with a split layout, including spacious living areas and private outdoor space. Situated within a well-located community near major employment centers, shopping, dining, bus stop and freeway access, the property benefits from strong rental demand in the area. - This is a cash-only opportunity due to community and financing considerations, making it ideal for seasoned investors adding to their portfolio.
Details
Maps
Contract Information
Type: Exclusive Right To Sell
Ownership: Condominium
Co-Ownership (Fractional) Agreement YN: No
List Price: $255,000
Status: Active
Current Price: $255,000
List Date: 2026-04-04
Location, Tax & Legal
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
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 Styles: Stacked
# of Interior Levels: 1
Full Bathrooms: 2
Half Bathrooms: 0
Approx SQFT: 941
Price/SqFt: 270.99
Approx Lot SqFt: 1202
Approx Lot Acres: 0.028
Flood Zone: No
Horses: N
Builder Name: UNK
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
Community Pool Y/N: Yes
Private Pool Y/N: No
Fireplace YN: Yes
Fireplaces Total: 1
Marketing Name: Chesapeake Condominium
Dwelling Type: Apartment
Exterior Stories: 2
# Bedrooms: 2
Total Bathrooms: 2
Year Built: 1986
Legal Info
Range: 4E
Section: 27
Township: 1N
Lot Number: 224
Special Listing Cond
N/A: 1
Construction
Wood Frame: 1
Const - Finish
Wood Siding: 1
Painted: 1
Brick Veneer: 1
Roofing
Tile: 1
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
Showing Notification Methods
Showing Service: No Showing Service Used
Text: 1
Lockbox Type
None: 1
Master Bathroom
Full Bth Master Bdrm: 1
Master Bedroom
Split: 1
Additional Bedroom
Other Bedroom Split: 1
Master Bedroom Walk-in Closet: 1
Other Bedroom Walk-in Closet: 1
Fireplace Features
Fireplace Living Rm: 1
Flooring
Carpet: 1
Tile: 1
Community Features
Community Laundry: 1
Community Spa: 1
Near Bus Stop: 1
Dining Area
Dining in LR/GR: 1
Heating
Electric: 1
View
City: 1
Kitchen Features
Dishwasher: 1
Disposal: 1
Electric Range: 1
Built-in Microwave: 1
Refrigerator: 1
Granite Counters: 1
Cooling
Central Air: 1
Interior Features
Vaulted Ceiling(s): 1
Laundry
Washer Included: 1
Dryer Included: 1
Inside: 1
Basement
Basement Y/N: N
Other Rooms
Great Room: 1
Separate Den/Office
Sep Den/Office Y/N: N
Road Access Type
City Street: 1
Road Surface Type
Paved: 1
Road Responsibility
Private Maintained Road: 1
Fencing
Wood: 1
Water Source
City Water: 1
Community Pool Features
Fenced: 1
Outdoor: 1
Exterior Features
Balcony: 1
Storage: 1
Spa
Heated: 1
Sewer
Sewer - Public: 1
Parking Spaces
Slab Parking Spaces: 0
Total Covered Spaces: 1
Carport Spaces: 1
Parking Features
Assigned Parking: 1
Detached Carport: 1
New Financing
Cash: 1
Cash to Loan: 1
Utilities
SRP: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Terms
Non Assumable: 1
Property Description
North/South Exposure: 1
Borders Common Area: 1
Landscaping
Grass Front: 1
Grass Back: 1
Unit Style
All on One Level: 1
Two Common Walls: 1
Neighbor Below: 1
End Unit: 1
Street Facing: 1
Disclosures
Seller Discl Avail: 1
Possession
Close of Escrow: 1
Association Fee Incl
Exterior Mnt of Unit: 1
Roof Repair: 1
Roof Replacement: 1
Blanket Ins Policy: 1
Water: 1
Sewer: 1
Garbage Collection: 1
Common Area Maint: 1
Street Maint: 1
Assoc Rules/Info
Pets OK (See Rmrks): 1
No Visible Truck Trailer RV Boat: 1
Rental OK (See Rmks): 1
Prof Managed: 1
Remarks Misc
Cross Street: Southern Ave and Mill Ave
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)
Exterior Features: Balcony; Storage
Parking Features: Detached Carport; Assigned Parking
Road Access Type: City Street
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
Fencing: Wood
Property Description: North/South Exposure; Borders Common Area
Landscaping: Grass Front; Grass Back
Showing Notification Methods: Text
Lockbox Type: None
Possession: Close of Escrow
Unit Style: All on One Level; Two Common Walls; Neighbor Below; End Unit; 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
Disclosures: Seller Discl Avail
Listing Office: DeLex Realty
Last Updated: May - 04 - 2026
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