154 W 5TH Street 250, Tempe, AZ 85281, Tempe, 85281 - 2 bed, 2 bath
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Tempe, AZ 85281
This High-Demand Residential Income Asset is listed at $450,000, reflecting a stable valuation aligned with its $435,000 Fair Market Value. The property maintains a Condition Rating of 3, featuring vaulted ceilings, stainless steel appliances, and a private patio. Located steps from ASU, Mill Avenue, and schools including Scales Technology Academy, Gililland Middle, and Tempe High, the unit benefits from intense rental demand and urban walkability. Including a community pool and spa, this asset offers a turnkey solution for consistent cash flow. This is an ideal acquisition for Buy-and-Hold Investors or Parent-Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 154 W 5TH Street 250 Subject | $450,000* List Price | 2 | 2 | 1,034 | $421 | - |
A 154 W 5TH Street 246 Active | $400,000 List Price | 2 | 2 | 1,034 | $387 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and features several key updates including stainless steel kitchen appliances, a modern tile backsplash, and updated bathrooms as noted in the description. While the building was constructed in 1986, the interior shows well-maintained finishes, vaulted ceilings, and neutral paint. Some areas, like the laundry room, show older appliances and more basic finishes, but the primary living spaces have been refreshed to meet modern standards without requiring immediate renovation.
Situated steps from ASU's Tempe campus, Mill Avenue, and the light rail, this property offers an unbeatable location for students, faculty, and urban professionals.
The unit features vaulted ceilings, updated bathrooms, stainless steel appliances, and a fireplace, providing a contemporary feel that appeals to high-quality tenants.
With a proven rental history in a high-demand area, this condo is an ideal turnkey opportunity for investors seeking steady cash flow and low vacancy rates.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =169461, other record lot size in square feet = 95. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1034, other record living area = 1273. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 3.
Originally built in 1986, the property may require more frequent maintenance or future capital improvements compared to newer developments in the Downtown Tempe area.
The assigned middle and high schools have lower ratings, which may limit the property's appeal to families looking for long-term residency.
High Demand Investor Opportunity at Hayden Square, steps from ASU's Tempe campus. This 2-bed, 2-bath condo offers a proven rental location in the heart of Downtown Tempe, ideal for steady student, faculty demand or corporate use. Bright open layout with vaulted ceilings, fireplace, stainless steel appliances, in-unit laundry, updated baths, and private patio. Easy walk to Mill Ave, light rail, and Tempe Town Lake which is an unbeatable leasing advantage. Community pool, BBQ area, and covered parking enhance tenant appeal. Strong rental record in a high-demand campus setting.
No exterior & parking available.
Grades K-5 • 0.8 mi
Grades 6-8 • 1.0 mi
Grades 9-12 • 1.2 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 | 1,034 | 1,230 | 38% |
| Lot Size | 169,461 | 1,879 | 92% |
| Price | $450.0K | $243.0K | 92% |
| Price per sq ft | $435 | $225 | 92% |
| Built year | 1986 | 1986 | 50% |
| HOA | $326 | $189 | 92% |
| Days on market | 61 | 2730 | 8% |
Feb 20, 2026
$450,000
Initial Listing