850 S RIVER Drive 2020, Tempe, AZ 85281, Tempe, 85281 - 2 bed, 2 bath
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Tempe, AZ 85281
This Modernized University-Adjacent Condo is a Prime Investment Opportunity, listed at $275,000—positioned well below the $282,342 Fair Market Value by 2%. This valuation gap provides $7,342 in Instant Equity. Boasting a Condition Rating of 3, the interior features a Granite Kitchen, maple cabinetry, and updated tiled showers. Located just two miles from ASU in a gated community with a community pool, it offers high rental demand and turnkey convenience. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a low-maintenance lifestyle.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 850 S RIVER Drive 2020 Subject | $275,000* List Price | 2 | 2 | 1,130 | $250 | - |
A 850 S RIVER Drive 1054 Pending | $299,900 List Price | 3 | 2 | 1,092 | $275 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and features significant interior updates that modernize the 1984 construction. Key improvements include granite countertops, maple cabinetry, and a stainless steel undermount sink in the kitchen, along with updated wood-look flooring and neutral paint throughout. The bathrooms have been upgraded with tiled showers, and the living spaces feature modern light fixtures and ceiling fans. While the building itself is older, the unit's systems and finishes appear well-maintained and updated within a timeframe that avoids immediate renovation needs.
Located just 2 miles from Arizona State University with easy access via bike or bus, this property is perfectly positioned for students, faculty, or investors seeking high rental demand.
The unit features high-quality finishes including granite countertops, maple cabinetry, stainless steel appliances, and updated tiled showers, providing a contemporary and move-in-ready environment.
The sale includes all major appliances (fridge, washer, and dryer) and offers community benefits like gated security, covered parking, and a public pool, minimizing initial setup costs for new owners.
Built in 1984, the building may face higher long-term maintenance requirements for plumbing or electrical systems compared to newer developments in the Tempe area.
The assigned elementary school has a low rating of 3, which may deter families with young children who prioritize high-performing school districts.
Beautiful 2 bed/2bath 2nd floor condo with updated flooring, granite counters, maple cabinets, large, stainless steel undermount sink, tiled showers in both bathrooms, updated lights and light fixtures, neutral paint scheme, 2 patios, and fridge, washer, and dryer included! 2 miles from ASU, you can walk, bike or bus to ASU in about 10 minutes, making this perfect for college students or someone who just wants to be in Tempe close to the campus. The complex is walled and gated, with covered parking and a public pool. Well-maintained and ready for new owners, check this unit out before next semester starts!
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades 6-8 • 1.2 mi
Grades 9-12 • 1.7 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 | 1,130 | 1,493 | 33% |
| Lot Size | 112 | 1,208 | 20% |
| Price | $275.0K | $0 | 67% |
| Price per sq ft | $243 | $0 | 60% |
| Built year | 1984 | 2002 | 27% |
| HOA | $272 | $371 | 40% |
| Days on market | 12 | 2907 | 7% |
Apr 10, 2026
$275,000
Initial Listing