2402 E 5TH Street 1668, Tempe, AZ 85288, Tempe, 85288 - 2 bed, 3 bath
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Tempe, AZ 85288
This Modern Tempe Condominium is a Prime Investment Opportunity, listed at $375,000—positioned well below the $390,078 Fair Market Value by 3%. This valuation gap provides $15,078 in Instant Equity for incoming buyers. The property maintains a Good Condition Rating, featuring a rare three-bathroom layout and 2007 construction standards. Located minutes from ASU and Tempe Marketplace, the unit benefits from high rental demand and proximity to major employment hubs. It represents a strategic acquisition for Owner-Occupants or Buy-and-Hold Investors.
Property is move-in ready.
Built in 2007, this property falls within the 10-20 year age range for a 'good' rating. The exterior appears well-maintained with clean stucco and tidy landscaping. The listing highlights modern construction standards and contemporary infrastructure, suggesting the home is move-in ready with functional systems, though it lacks the recent comprehensive renovation required for an 'excellent' score.
Situated in the desirable Villagio at Tempe, this property offers exceptional proximity to ASU, Tempe Marketplace, and the Chicago Cubs Spring Training facility, ensuring high rental demand and convenience.
Built in 2007, the unit features contemporary building standards and infrastructure compared to older Tempe inventory, likely resulting in better energy efficiency and fewer maintenance concerns.
With three bathrooms for a two-bedroom unit, the layout provides superior privacy and convenience, making it an ideal setup for roommates or hosting guests.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =1190, other record lot size in square feet = 1386. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1135, other record living area = 1399.
At 1,135 square feet, the interior living areas may feel restrictive for buyers transitioning from single-family homes or those requiring large furniture sets.
Being part of a large condominium complex can lead to challenges with guest parking availability and potential noise levels associated with close-proximity neighbors.
Exceptional opportunity in Tempe. This spacious residence offers a versatile layout ideal for modern living. Situated on a quiet street in a highly desirable area.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 1.5 | 50% |
| Baths | 3.0 | 2.0 | 50% |
| Square foot | 1,135 | 883 | 50% |
| Lot Size | 1,190 | 625.5 | 50% |
| Price | $375.0K | $297.5K | 50% |
| Price per sq ft | $330 | $340 | 50% |
| Built year | 2007 | 1994 | 50% |
| HOA | $251 | $203 | 50% |
| Days on market | 36 | 1716 | 50% |
Mar 17, 2026
$375,000
Initial Listing