508 W Malibu Drive, Tempe, AZ 85282, Tempe, 85282 - 3 bed, 2 bath
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Tempe, AZ 85282
This Updated Tempe Townhouse is a Prime Investment Opportunity, listed at $359,000—positioned below the $368,508 Fair Market Value by 2%. This valuation gap provides $9,508 in Instant Equity. Boasting a Condition Rating of 3, the residence features a brand-new roof, new HVAC system, and fresh paint throughout. While assigned schools are rated 3/10, the prime location near ASU and a community pool drives strong lifestyle and rental appeal. This turnkey property is an elite acquisition for Buy-and-Hold Investors or first-time buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 508 W Malibu Drive Subject | $359,000* List Price | 3 | 2 | 1,332 | $277 | - |
A 3411 S WILSON Street Sold | $425,000 | 3 | 2 | 1,501 | $283 | 0.1 mi |
B 320 W LAGUNA Drive Active | $369,000 List Price | 3 | 2 | 1,235 | $299 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1969, the property has undergone a recent renovation (<5 years) including a new roof, new HVAC system, fresh interior/exterior paint, and new flooring. The kitchen and layout remain somewhat dated in style, but the home is move-in ready and critical systems are modernized.
The property features a brand-new roof and a new HVAC unit, providing significant peace of mind and reducing the risk of immediate high-cost maintenance for the buyer.
Ideally situated in the heart of Tempe near ASU, major freeways, and shopping, this home offers excellent accessibility and strong potential as a high-demand rental.
With fresh interior and exterior paint, new carpeting, and updated wood-grain vinyl flooring, the home is turnkey and ready for immediate occupancy.
The assigned elementary, middle, and high schools all carry a rating of 3/10, which may be a significant drawback for families prioritizing educational performance.
The large backyard is currently a blank canvas, requiring additional financial investment and effort from the buyer to transform it into a functional living area.
Welcome to this cute home in Tempe's Laguna Estates! This 3 bed, 2 bath home is a great fit for a first-time buyer or a smart rental. The home has a fresh new look with paint inside and out. You will love the new roof and new HVAC unit for peace of mind. Step inside to find new carpet in the main family room and all bedrooms. The wood grain vinyl floors add a warm feel and are easy to care for. The open layout flows into an eat-in kitchen, perfect for simple meals and easy mornings at home. This home has charm with its classic brick style and a private front courtyard, perfect for morning coffee or quiet time. Out back, enjoy a covered patio that gives shade and space to relax, plus a large yard that is a blank canvas. Make it your dream space with grass, a pool, or a cozy patio setup. Enjoy added perks with a community pool and rec room, great for fun and easy living. The location is hard to beat. You are right in the heart of Tempe, just minutes to the freeway, shopping, dining, and ASU. This home is clean, updated, and ready for you to move in. Come see it today!
No exterior & parking available.
Grades K-5 • 1.0 mi
Grades 6-8 • 1.8 mi
Grades 9-12 • 1.2 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 | 1,332 | 1,416.5 | 50% |
| Lot Size | 3,981 | 2,522 | 75% |
| Price | $359.0K | $345.9K | 56% |
| Price per sq ft | $270 | $258 | 50% |
| Built year | 1969 | 1972 | 25% |
| HOA | $140 | $150 | 50% |
| Days on market | 47 | 2222 | 6% |
Apr 21, 2026
$359,000
Initial Listing