1218 S FARMER Avenue Tempe, AZ $ 1,675,000
1218 S FARMER Avenue
$ 1,675,000
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1218 S FARMER Avenue

Tempe, AZ, 85281
$ 1,675,000
Baths0.0

Monthly Estimate*

$ 10,450

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Studio

Multi-Family Home for sale in Tempe, AZ

for $1,675,000. This home was built in 1960.

Exceptional investment opportunity in this well-maintained 9-unit multifamily property! Conveniently located in a desirable, high-demand rental area of Tempe, ASU. This 9-plex features 8-1bedroom units and 1- studio with strong rental history and low vacancy. Each unit offers functional layouts, and 15 dedicated parking. All units have been tastefully updated attracting quality long-term tenants. The property sits on a generous lot with potential for future development (buyer to verify). On-site laundry, separate utility meters, This is a turnkey addition to any investor's portfolio. Easy access to transit, ASU, shopping, and major employment centers. Whether you're a seasoned investor or entering the multifamily market, this is a rare chance to acquire a stable, cash-flowing asset.

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Multi-Family Active

Price

$ 1,675,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 2,668

Style

Multiple Dwellings

Year Built

1960

Town/City

Tempe

County/Region

Maricopa

MLS | Web ID

6919748

Features
General
Sewer Public Sewer
Heating Heat Pump Electric
Cooling Central Air Ceiling Fan(s) Electric
Roof Composition
Zoning R-3
Construction Materials Wood Frame Painted Block
Year Built 1960
Electric APS
Township 1N
Tax Year 2024
Ownership Fee Simple Fee Simple
Gross Income 119700.0
Community Features Barbecue Play Area No Pool
County Maricopa
Net Operating Income 108667.0
Operating Expense 17601.0
Insurance Expense 4000.0
Property Type Multiple Dwellings
Attached Garage N
Subdivision Name STATE COLLEGE HOMES LOTS 41-48
Garage Y/N N
Status Active
Directions South on Farmer from University to property
High School Tempe High School
City Tempe
Disclosures None
High School District Tempe Union High School District
Open Parking Spaces 6.0
Number Of Units Total 9
Carport Y/N N
Elementary School Holdeman Elementary School
Tax Annual Amount 2668.0
Electric Expense 0.0
Middle/Junior High School Geneva Epps Mosley Middle School
Water Sewer Expense 4800.0
Lease Renewal Y/N N
Additional Parcels Y/N Y
Lease Considered Y/N N
Rent Control Y/N N
Standard Status Active
Occupancy Type Tenant
Elementary School District Tempe School District
Tax Lot 4
Cap Rate 6.49
New Financing: Conventional True
Senior Community N
New Financing: Cash True
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Interior
Flooring Vinyl
Air Conditioning Y/N Y
Heating Y/N Y
Total Baths 0
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Exterior
Parking Features Add'l Parking Avail 1 Space/Unit Carport
Water Source City Franchise
Total Parking 16.0
Number of Buildings 3
Spa N
Lot Dimensions 9523
Covered Spaces 10.0
Crops Included Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 1218
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* Excluded Features
List By
Civic Center Real Estate

Broker

cbiancodtc@gmail.com

Email

Affordability Calculator

$10,672
Per Month
98%
2%
0%
Monthly Principal & Interest
$10,450
Monthly Property Taxes
$222
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4327796 Elementary School
4327128 Middle School
Tempe High School High School
Pricing History
DatePricePrice ChangeDescription
9/15/2025$1,675,000 Listed Price

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1218 S FARMER Avenue, Tempe, AZ, 85281 is a Multi-Family Home for sale at $1,675,000. 1218 S FARMER Avenue is a studio with 0.0 baths and was built in 1960. The property's zip code is 85281 which is in Tempe, AZ