1111 W UNIVERSITY Drive 1016, Tempe, AZ 85281, Tempe, 85281 - 1 bed, 2 bath
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Tempe, AZ 85281
This modern live/work condo represents a Strong Value Opportunity, listed at $334,900—positioned well below the $355,206 Fair Market Value by 5%. This valuation gap offers $20,306 in Instant Equity for the buyer. Featuring a Good Condition Rating with recent LVP flooring and stainless steel appliances, the unit offers a unique retail/commercial storefront and residential retreat. With premium amenities like a pool and spa, this property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a versatile urban lifestyle near ASU.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1111 W UNIVERSITY Drive 1016 Subject | $334,900* List Price | 1 | 2 | 1,137 | $312 | - |
A 510 W University Drive 208 Active | $329,900 List Price | 3 | 2 | 1,081 | $305 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 2005 (19 years old), the property falls within the 10-20 year range for 'Good' condition. It is well-maintained and move-in ready with recent updates including new LVP flooring. The kitchen features functional stainless steel appliances and the bathrooms, while original, maintain a clean modern industrial aesthetic consistent with the building's age.
This rare modern condo features a dedicated retail/commercial storefront combined with a private residential retreat, offering exceptional versatility for entrepreneurs or small business owners.
Situated in the heart of Tempe near ASU, Mill Avenue, and the Light Rail, the property provides unbeatable access to major employment hubs, dining, and transportation.
The unit boasts updated LVP flooring and stainless steel appliances, complemented by premium community features including a pool, fitness center, and secure underground garage parking.
At $558 per month, the association fees are relatively high, which may impact overall affordability and the debt-to-income ratio for potential buyers.
With only one bedroom and local schools rated 3/10, the property's demographic appeal is largely restricted to singles or couples, excluding most family-oriented buyers.
Back on market at no fault to property - previous buyer could not perform. Don't miss this exceptional, modern live/work condo featuring a large retail/commercial storefront in the front and a private residential retreat in the back. The living space offers an open floor plan with beautiful wood tile, new LVP flooring in the bedroom and office, and a spacious kitchen with stainless steel appliances. Located in a secure, gated community with underground garage parking, top-tier amenities include a pool, fitness center, spa, and walking paths. Unbeatable location near ASU, Mill Ave, the 101, and the Light Rail!
No exterior & parking available.
Grades PK-5 • 0.8 mi
Grades 6-8 • 0.3 mi
Grades 9-12 • 1.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 2.0 | 38% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,137 | 1,183.5 | 50% |
| Lot Size | 1,206 | 1,453 | 50% |
| Price | $334.9K | $67.5K | 88% |
| Price per sq ft | $295 | $78 | 75% |
| Built year | 2005 | 1993 | 63% |
| HOA | $558 | $196 | 88% |
| Days on market | 7 | 2627 | 13% |
May 30, 2026
$334,900
Initial Listing