2136 E LEMON Street, Tempe, AZ 85281, Tempe, 85281 - 3 bed, 2 bath
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Tempe, AZ 85281
This Redevelopment Asset is listed at $486,000, aligning with the area's high-demand market pricing relative to its $462,420 Fair Market Value. Featuring a Condition Rating of 5, the property is sold as-is, offering a significant Value-Add Opportunity in a prime Tempe pocket. The site includes a 10,000-gallon swimming pool and original hardwood floors, situated minutes from ASU and McClintock High School. With neighboring properties being acquired for redevelopment, this is a strategic acquisition for Fix-and-Flip Investors or Buy-and-Hold Investors looking to capitalize on prime land value and rental demand.
Property is extensive renovation needed.
Built in 1957 and sold in 'as-is' condition, the property exhibits significant deferred maintenance, including an unmaintained green swimming pool and dilapidated exterior structures. The listing's emphasis on redevelopment potential and the need for renovation, combined with the aged infrastructure and lack of recent updates, aligns with the criteria for a property requiring substantial rehabilitation.
Situated in a highly desirable Tempe pocket near ASU and major transit, this property offers significant upside as neighboring lots are actively being acquired for high-value redevelopment.
The property boasts a generously sized lot featuring an approximately 10,000-gallon swimming pool, a premium feature that enhances both lifestyle appeal and rental competitiveness in the Arizona climate.
Equipped with a powerful 3.5-ton A/C system, hardwood flooring, and dual full bathrooms with jacuzzi tubs, the home provides a functional base for immediate use or renovation.
The property is being sold strictly in as-is condition, which necessitates a buyer prepared for immediate capital expenditures for repairs or modernization.
With an original build date of 1957, the home likely requires updates to older electrical or plumbing systems to meet modern efficiency standards and building codes.
LOCATION, LOCATION, LOCATION!
Prime opportunity in a highly desirable area with nearby properties being acquired for redevelopment. This 3 bed, 2 bath home sits on a generously sized lot & offers strong potential for renovation, rental, or future development. The property features a spacious kitchen w/ ample cabinet storage, a dedicated laundry room, hardwood floors and tile throughout, ceiling fans in all rooms & a 3.5-ton A/C system. Both bathrooms are full baths and include jacuzzi tubs. Outdoors, enjoy a large front & backyard with an approximately 10,000-gallon swimming pool. Ideally located with easy access to major highways, Metro public transportation, and just minutes from Arizona State University, schools, shopping & dining. Property is being sold as-is. Excellent opportun
No exterior & parking available.
Grades K-5 • 0.1 mi
Grades 6-8 • 0.9 mi
Grades 9-12 • 1.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,339 | 1,548 | 30% |
| Lot Size | 5,911 | 7,050.5 | 17% |
| Price | $449.0K | $266.0K | 70% |
| Price per sq ft | $335 | $186 | 83% |
| Built year | 1957 | 1958 | 40% |
| HOA | $0 | $0 | 50% |
| Days on market | 92 | 2129 | 3% |
Apr 16, 2026
$449,000
$486,000
-8% Price Drop
Initial Listing
Jan 20, 2026
$486,000
Initial Listing