224 E LA JOLLA Drive, Tempe, AZ 85282, Tempe, 85282 - 3 bed, 2 bath
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Tempe, AZ 85282
This Value-Add Residential Asset is listed at $440,000, currently positioned above its $366,568 Fair Market Value to reflect its substantial square footage and prime location. Carrying a Condition Rating of 5, the property requires a comprehensive structural and cosmetic rehab to address its original 1962 finishes and deferred maintenance. However, the 2,260 sqft layout, garage conversion, and No HOA status provide exceptional flexibility for separate living quarters or a home office just 2 miles from ASU. This project offers significant forced appreciation potential for Fix-and-Flip Investors or Contractors ready to modernize a high-demand Tempe property.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 224 E LA JOLLA Drive Subject | $430,000* List Price | 3 | 2 | 2,260 | $161 | - |
A 212 E MINTON Drive Pending | $495,000 List Price | 4 | 2 | 2,247 | $220 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1962 with no evidence of modern renovations. The interior features original wood paneling, popcorn ceilings, peeling wallpaper, and heavily stained carpeting. The kitchen and bathrooms are severely dated, and the listing's mention of 'TLC' and 'potential' confirms the need for a full structural and cosmetic rehab.
Situated just 2 miles from ASU and near four major freeways (101, 60, I-10, 202), this property offers exceptional accessibility for commuters and university-affiliated residents.
The garage conversion provides a unique opportunity for separate living quarters or a dedicated home office, catering to the growing demand for multi-generational housing or remote work setups.
With 2,260 square feet of living space and a competitive price point, this home presents a strong opportunity for investors or homeowners to build equity through cosmetic updates and renovations.
The property requires 'TLC' and updates, which may necessitate immediate out-of-pocket expenses for buyers looking for a turnkey residence.
Built in 1962, the home may feature dated systems or structural elements that could require modernization to meet current building standards and buyer expectations.
Conveniently located near the 101, 60, I-10, and 202, this 3-bedroom, 2-bathroom home offers easy access for commuting across the Valley. Featuring a spacious layout with great potential, this home is perfect for buyers looking to add their personal touch. With a little TLC, this property can truly shine and become a wonderful primary residence or investment opportunity. Opportunity to have separate living quarters/office space with the garage conversion. Appx 2 miles south of ASU!
No exterior & parking available.
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 | 2,260 | 1,669 | 83% |
| Lot Size | 7,993 | 8,355 | 40% |
| Price | $430.0K | $185.8K | 60% |
| Price per sq ft | $190 | $95 | 50% |
| Built year | 1962 | 1970 | 15% |
| HOA | $0 | $0 | 50% |
| Days on market | 36 | 2445 | 2% |
May 17, 2026
$430,000
$440,000
-2% Price Drop
Initial Listing
May 1, 2026
$440,000
Initial Listing