1231 N OLEANDER Street Tempe, AZ ^$ 1,295,000

1231 N OLEANDER Street

^$ 1,295,000

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Recently Listed

1231 N OLEANDER Street

Tempe, AZ, 85288

^$ 1,295,000

Studio Baths0.0

Monthly Estimate*

^$ 8,079

1231 N OLEANDER Street, Tempe, AZ 85288 - Image 1

1231 N OLEANDER Street, Tempe, AZ 85288 - Image 2

1231 N OLEANDER Street, Tempe, AZ 85288 - Image 3

1231 N OLEANDER Street, Tempe, AZ 85288 - Image 4

1231 N OLEANDER Street, Tempe, AZ 85288 - Image 5

1231 N OLEANDER Street, Tempe, AZ 85288 - Image 6

1231 N OLEANDER Street, Tempe, AZ 85288 - Image 7

1231 N OLEANDER Street, Tempe, AZ 85288 - Image 8

1231 N OLEANDER Street, Tempe, AZ 85288 - Image 9

1231 N OLEANDER Street, Tempe, AZ 85288 - Image 10

Studio

Multi-Family Home for sale in Tempe, AZ

for $1,295,000. This home was built in 1958.

Turnkey 5-Unit Investment Near ASU & Old Town Scottsdale. Fully renovated in 2019 with near-zero vacancy in a high-demand rental market. Unit mix includes four 2BD/1BA units and one 1BD/1BA unit, each featuring updated interiors, vinyl flooring, modern cabinetry, granite countertops, dual-pane windows, new A/C systems, and upgraded security doors. Large private gated patios enhance tenant appeal. Low-maintenance asset offering stable cash flow and long-term appreciation potential.

Multi-Family Active

Price

^$ 1,295,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

^$ 1,363

Style

Multiple Dwellings

Year Built

1958

Town/City

Tempe

County/Region

Maricopa

MLS | Web ID

6960414

Features

General

Sewer Public Sewer

Heating Electric

Cooling Central Air Ceiling Fan(s) Electric 2 or More Units

Roof Foam

Zoning [R-2] Multi-Fam

Construction Materials Wood Frame Painted Block Brick

Year Built 1958

Electric APS

Tax Year 2025

Ownership Fee Simple Fee Simple

Gross Income 81060.0

Community Features No Pool

County Maricopa

Net Operating Income 72317.27

New Construction N

Property Type Multiple Dwellings

Attached Garage N

Subdivision Name NORTH TEMPE 2

Garage Y/N N

Status Active

Directions South on Miller to Tempe Dr. West to Oleander

High School McClintock High School

City Tempe

Disclosures None

High School District Tempe Union High School District

Open Parking Spaces 2.0

Number Of Units Total 5

Carport Y/N N

Elementary School Cecil Shamley School

Tax Annual Amount 1363.0

Middle/Junior High School McKemy Academy of International Studies

Lease Renewal Y/N N

Additional Parcels Y/N Y

Lease Considered Y/N N

Rent Control Y/N N

Standard Status Active

Elementary School District Tempe School District

Tax Lot 185

Cap Rate 5.58

New Financing: Conventional True

Senior Community N

New Financing: Cash True

Interior

Flooring Vinyl

Air Conditioning Y/N Y

Heating Y/N Y

Total Baths 0

Exterior

Parking Features Paved Assigned 1 Space/Unit On Street

Water Source Individual Meter

Total Parking 7.0

Number of Buildings 2

Spa N

Lot Dimensions 7 070 SF

Covered Spaces 5.0

Crops Included Y/N N

Irrigation Water Rights Y/N N

Internal Only

Street Number 1 1231

* Excluded Features

List By

Midland Real Estate Alliance

Broker

dalen@midlandrea.com

Affordability Calculator

$8,193

Per Month

Monthly Principal & Interest: $8,079
Monthly Property Taxes: $114
Monthly Home Insurance: --

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Interest Rate

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Yearly 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

Trends
Schools

Multi-family listings in Tempe, AZ

Average List Price ^$1,178,206

Percent of Sale Price 9%

About Tempe, AZ

178,468 Population

13% Since 2002

^$52,533 Median Income

31.86 Median Age

19% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

4327385 Elementary School

4899035 Middle School

McClintock High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
12/23/2025	$1,295,000		Listed Price

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1231 N OLEANDER Street, Tempe, AZ, 85288 is a Multi-Family Home for sale at $1,295,000. 1231 N OLEANDER Street is a studio with 0.0 baths and was built in 1958. The property's zip code is 85288 which is in Tempe, AZ

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: 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.

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Arizona Regional Multiple Listing Service, Inc. Real Estate listings held by brokerage firms (licensees) other than Weichert Realtors are marked with the ARMLS logo and detailed information about them includes the name of the listing brokers.

All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.

The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data is updated as of 12/25/2025.

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1231 N OLEANDER Street

Multi-Family Home for sale in Tempe, AZ

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