Lakeshore Drive Office Condominiums
You own a unit plus a share of the common elements; the association maintains the building and grounds.
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What Lakeshore Drive Office Condominiums's governing documents say
Lakeshore Drive Office Condominiums is a commercial office condominium in Tempe, AZ — you own a unit (defined by cubic content within walls, floor, and ceiling) and share ownership of the common elements (building structure, parking areas, landscaping, etc.) with the association maintaining and insuring them, funded by per-unit assessments.
- What you own & maintain: You own the interior unfinished surfaces (ceiling, floor, walls) and decorative finishes of your unit. The association maintains all structural parts (roofs, columns, main walls), utility systems serving more than one unit, parking driveways, and landscaped common areas.
- Permitted use: Units are designated for office use, as implied by the project name and the document's purpose as an office condominium. Residential use is not described.
- Association & assessments: The association (Lakeshore Drive Office Condominiums Association, Inc.) levies regular and special assessments per unit based on percentage interests in common elements. Unpaid assessments become a lien on the unit and bear interest at the greater of 20% annually or prime + 2%. Delinquencies can trigger foreclosure.
- Parking & vehicles: Each unit has an exclusive-use parking space shown on the plat, which is an appurtenance that cannot be sold separately. The board may manage unassigned spaces for guest parking or lease them to owners.
- Insurance: The association must carry multi-peril property insurance at 100% replacement cost, general liability insurance (minimum $1,000,000 per occurrence), fidelity coverage for funds handlers, and boiler insurance if applicable. Owners should insure personal contents and unit improvements separately.
- What this document doesn't cover: The excerpt omits full details on leasing restrictions (Section 18), use and occupancy restrictions (Section 19), and architectural control (Section 16). Those sections are referenced in the table of contents but not provided.
Key facts from Lakeshore Drive Office Condominiums's documents
- Community type
- Condo (Horizontal Property Regime) (Document title and Paragraph 2)
- Developer / declarant
- E & TF INVESTMENTS, an Arizona general partnership (first paragraph)
- Governing law
- Arizona Revised Statutes Sections 33-551 through 33-561 (WHEREAS second paragraph)
- Special assessments
- Allowed for capital improvements, restoration, and operating deficits (8.1.4, 12.5, 8.1.3)
- Collections & liens
- Unpaid assessments constitute a lien on the Unit, foreclosable as a realty mortgage; personal obligation also exists (8.1.1, 8.2.1, 8.2.3)
- Reserves & fees
- Board may establish and maintain a reserve fund from regular assessments for periodic maintenance, repair, and replacement of Common Elements (8.1.3)
- Pets
- Pets allowed only with Association approval; no commercial breeding without Board approval; must not be a nuisance (19.5)
- Leasing & rentals
- Owner may rent or lease Unit (18)
- Parking & vehicles
- Each Owner has exclusive use of designated parking spaces; Board manages unassigned spaces and may impose rules (7)
- Architectural approval
- Prior written Board approval required for exterior alterations, additions, improvements, painting, decorating, construction (15, 16.2)
- Signs & flags
- No sign without Board approval; Declarant may use signs for development and sale (19.4)
- Maintenance
- If Owner's act or neglect causes damage to Common Elements or other Units, Owner pays to extent not covered by insurance (14.2)
- Use restrictions
- No Owner shall permit anything that cancels insurance or violates law; pets not to be a nuisance (19.3, 19.5)
- Voting & meetings
- Each Owner one vote per Unit weighted by percentage interest in Common Elements; suspension for non-payment of assessments after 15 days; multiple owners must agree; voting rights can be pledged to Mortgagee via irrevocable proxy (4.1, Paragraph 4)
Collections & enforcement records
Public records show 2 enforcement filings by this association in 1988.
Source: Maricopa County Recorder and Maricopa County Superior Court public indexes.
About this HOA
Lakeshore Drive Office Condominiums is a homeowners association in Tempe, AZ.
HOAproxy has 1 document on file for Lakeshore Drive Office Condominiums: 1 recorded document. Last updated 2026-07-24.