Buy a condo near ASU be like! Plus a hell of an idea and sound investment! You eliminate the cost of rent. And if the condo is large enough — say, two or three bedrooms — the extra rooms can be rented to other students to help with the cost of ownership and even pay down the mortgage.
Over a four-year span or until your child graduates your condo is likely to appreciate. Although your property values are not guaranteed to go up, housing near Arizona State University is usually scarce and if you must sit on the investment a little longer, say two – three years its easy to rent out. Business 101 lesson supply and demand in full affect.
There are hundreds of condominiums, townhomes, and loft complexes around ASU, Downtown Tempe, and Tempe Town Lake. Arizona State University is the heart and soul of Tempe, the ASU area covers quite a bit of real estate so there are dozens of neighborhoods and communities surrounding the school campus itself.
Whether you’re a parent looking for a condominium to buy for your student, a staff member looking to be close to work, faculty or professors looking for that upscale condo with limited maintenance on Mill Avenue; there are a variety of choices and prices to choose from.
Condos around ASU are going to start at about $90,000. The average price for a condo in this area is about $185,000-$280,000 but there are several higher-end condos over the $1 million mark. In the Downtown Tempe (aka Mill ave to the locals) along Tempe Town Lake there are several condominiums that offer luxurious residences in high-rise condominium complexes. These can range anywhere from $350,000 to over $2 million for luxury loft, penthouse, brownstone, or condominiums over 2000 ft.
Although this price range is not really the market that most folks that are looking to be close to the ASU are going to be looking for. Your typical student housing condominium complexes ranging around $180,000 – $250,000 that provide two and three bedroom layouts around 1000 to 1800 ft. There are easily accessible along 101, 202, and 60 freeways with quick access to ASU main campus and campus destinations. You can also find less expensive condominiums in the $100,000 – $199,000 range that provide One and two bedroom layouts around 700 to 999 sf.
If you’re looking to find a condo close to Arizona State University, near Tempe Town Lake, or right in downtown Tempe I would love to show you some of the available listings and current active condos on the market. Contact me anytime.
Realtor Juan Pesqueira wants to be your AZ source for condos, apartments, lofts, and townhomes around the entire valley. Give us a call if you’re interested in finding a condo or home anywhere in AZ and the surrounding areas.
** Advice from a past ASU graduate and Tempe condo expert **
The best Tempe starter condos with a huge student population is Quest Vida, Papago Park Village, and Villagio at Tempe.
The Tempe best mid-priced condos with urban life is Northshore, BELLA VITA TOWNHOMES (Brand new), 525 TOWN LAKE, Vale condominiums, REGATTA POINTE CONDOMINUMS, Hayden Square, and the Brownstones.
The Tempe best high-rise, penthouse, and luxury developments will be Hayden Ferry Lakeside condos, Lofts at Orchidhouse, 4TwentyOne (Brand new development).
If you are looking to buy in the summer, dress in light colors, wear conferrable clothing, and bring water because its freaking hot and some developments will have you walking form visitor parking to the unit….