1065 W 1ST Street 103, Tempe, AZ 85281, Tempe, 85281 - 2 bed, 2 bath
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Tempe, AZ 85281
This Turnkey Rental Asset is listed at $300,000, representing a location-driven premium over the $265,998 Fair Market Value. Maintaining a Condition Rating of 3, the unit features a modernized kitchen with stainless steel appliances, updated bathroom vanities, and a private renovated backyard patio. With an active tenant secured through late 2026, the property offers immediate cash flow within Tempe’s high-demand Waterfront District. Proximity to Tempe Town Lake and ASU ensures long-term occupancy stability. This is an ideal acquisition for Buy-and-Hold Investors or Portfolio Managers looking for a stabilized, low-effort investment.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1065 W 1ST Street 103 Subject | $300,000* List Price | 2 | 2 | 751 | $354 | - |
A 1077 W 1ST Street 205 Sold | $227,000 | 2 | 2 | 779 | $291 | 0.0 mi |
B 1077 W 1ST Street 205 Sold | $227,000 | 2 | 2 | 779 | $291 | 0.0 mi |
C 1077 W 1ST Street 106 Pending | $229,900 List Price | 2 | 2 | 779 | $295 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and well-maintained, featuring several key updates that elevate it above a standard 'fair' condition. While the structure dates to 1986, the kitchen has been modernized with stainless steel appliances and stone countertops, and the bathroom vanities were replaced within the last three years. The interior shows minimal wear with clean carpeting and neutral paint, making it a turnkey investment.
Situated in Tempe's desirable Waterfront District, the property is within walking distance to Tempe Town Lake, Beach Park, and the Center for the Arts, ensuring high rental demand and lifestyle appeal.
With an active tenant secured through the end of 2026, this property offers immediate cash flow and a seamless 'plug and play' transition for portfolio-minded investors.
The unit features recently updated bathroom vanities and a peaceful, renovated backyard that avoids busy road noise, providing a competitive edge over standard units in the complex.
At 751 square feet for a two-bedroom, two-bathroom configuration, the interior layout may feel restrictive for residents requiring more spacious accommodations.
The assigned middle and high schools carry lower ratings (3/10), which may limit the property's appeal to families and impact long-term resale value to certain demographics.
Incredible investor opportunity in the heart of Tempe's Waterfront District at River Run Condos. This unit features stacked laundry machines and an updated, peaceful back yard that does not border a busy road. Both bathroom vanities have been re-done within the past 3 years. Walking distance to Tempe Town Lake, Tempe Beach Park, the Center for the Arts and much more, this is a location that every property owner needs to add to their portfolio. With an active Tenant in place through the end of 2026, this vibrant condo is ready for its new owner to plug & play instantly!
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades 6-8 • 0.8 mi
Grades 9-12 • 1.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 751 | 1,493 | 13% |
| Lot Size | 787 | 1,208 | 40% |
| Price | $300.0K | $0 | 80% |
| Price per sq ft | $399 | $0 | 80% |
| Built year | 1986 | 2002 | 27% |
| HOA | $336 | $371 | 40% |
| Days on market | 37 | 2907 | 7% |
Mar 16, 2026
$300,000
Initial Listing