
Tempe, AZ 85281
This Luxury Waterfront Condominium is listed at $1,050,000, representing a premium residential asset compared to the $971,771 Fair Market Value. Boasting an Excellent Condition Rating, the residence features high-end updates including a waterfall island kitchen, engineered hardwood, and automated window coverings. The unique architectural layout provides significantly more living space than standard units, complemented by unobstructed views of Tempe Town Lake and the Mill Avenue Bridge. With resort-style amenities and immediate access to downtown Tempe, this move-in ready home offers a sophisticated lifestyle. It is an ideal match for discerning professionals or luxury-focused owner-occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 120 E RIO SALADO Parkway 204 Subject | $995,000* List Price | 2 | 3 | 1,968 | $474 | - |
A 140 E RIO SALADO Parkway 609 Sold | $950,000 List Price | 3 | 3 | 2,624 | 0.0 mi | |
B 140 E RIO SALADO Parkway 610 Active | $1,000,000 List Price | 2 | 3 | 2,320 | $431 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is in move-in ready condition and exceptionally well-maintained. Built in 2006, it falls within the 10-20 year age bracket and features high-end updates including a modern kitchen with a waterfall island and professional-grade stainless steel appliances. The interior boasts engineered hardwood flooring, automated window coverings, and updated bathrooms, showing minimal wear and tear while meeting contemporary luxury standards.
The property offers rare, unobstructed views of Tempe Town Lake and the Mill Avenue Bridge, providing direct access to lakefront docks, walking paths, and vibrant downtown energy.
This specific floor plan is larger and more functional than units on higher floors, featuring an oversized primary suite and a guest suite spacious enough for multiple beds and a dedicated fitness area.
Residents enjoy a full suite of resort-style services, including a front desk attendant, on-site security, climate-controlled storage, and premium recreational facilities like a pool, jacuzzi, and fitness center.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =1968, other record lot size in square feet = 3169. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1968, other record living area = 3163. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 3.
The monthly association fee of $1,836 is substantial, which may impact the property's appeal to budget-conscious buyers or those looking for lower overhead in a secondary residence.
The assigned public schools carry relatively low ratings (3/10 and 5/10), which could be a concern for families prioritizing high-performing educational districts.
Experience elevated waterfront living at Edgewater, where unobstructed views of the lake and the iconic Mill Avenue Bridge create a striking backdrop to everyday life. Expansive picture windows immediately draw your attention outward as rowing crews glide across the water, cyclists trace the shoreline, and the energy of downtown unfolds just beyond. The open concept design is intentional, maximizing natural light while seamlessly connecting interior living spaces to the surrounding scenery. This unique two bedroom, two and a half bathroom floor plan offers noticeably more living space than similar units on higher floors due to the architectural shape of the building, creating a larger and more functional layout that is rarely available. The guest suite is exceptionally spacious and currently accommodates two queen Murphy beds, a standup desk, and dedicated space for yoga and fitness, making it larger than many primary suites within the building. The guest bathroom is positioned just off the suite, while an additional half bath near the entry foyer allows for effortless hosting of both long term guests and everyday entertaining. The primary suite serves as a true retreat, offering generous proportions with an oversized layout that provides more than enough space for a king sized bed, a dedicated office or desk setup, or an additional sitting area. The spa inspired bathroom is designed for both comfort and privacy. Two private balconies provide front row access to morning sunrises and vibrant Arizona sunsets reflected across the water. The kitchen is both functional and refined, anchored by a waterfall island and designed to flow seamlessly into the main living and dining areas. Additional features include engineered hardwood flooring, automated Hunter Douglas window coverings, a gas fireplace, and secure parking with climate controlled storage. Located within Edgewater at Tempe Town Lake, this iconic building offers a full suite of resort style amenities. Residents enjoy a gated garage, a front desk attendant with on site security, a pool and jacuzzi, fitness center, and a private community lawn with lounge areas and grills. Additional shared spaces include a clubhouse with kitchen, television lounge and a pool table room. Direct access to Tempe Town Lake's dock, as well as immediate connection to the lake's walking and biking paths, places the outdoors at your doorstep. Edgewater is professionally managed with on site HOA management and strong reserves, offering peace of mind through thoughtful, well maintained operations. With A Mountain and Tempe Town Lake as your playground and seamless access to Tempe, Phoenix, and Scottsdale, this residence delivers a rare balance of tranquility, convenience, and iconic desert living.
No exterior & parking available.
Grades K-8 • 1.4 mi
Grades 9-12 • 2.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 3.0 | 2.0 | 73% |
| Square foot | 1,968 | 1,508 | 73% |
| Lot Size | 1,968 | 1,716 | 67% |
| Price | $995.0K | $0 | 93% |
| Price per sq ft | $506 | $0 | 93% |
| Built year | 2006 | 2006 | 50% |
| HOA | $1836 | $375 | 93% |
| Days on market | 34 | 2907 | 7% |
Apr 19, 2026
$995,000
$1,050,000
-5% Price Drop
Initial Listing
Mar 19, 2026
$1,050,000
Initial Listing