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508 S FARMER Avenue Tempe, AZ $ 1,749,500
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508 S FARMER Avenue
$ 1,749,500
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508 S FARMER Avenue

Tempe, AZ, 85281
$ 1,749,500
Baths0.0

Monthly Estimate*

$ 10,772

508 S FARMER Avenue, Tempe, AZ 85281 - Image 1
508 S FARMER Avenue, Tempe, AZ 85281 - Image 2
508 S FARMER Avenue, Tempe, AZ 85281 - Image 3
Studio

Multi-Family Home for sale in Tempe, AZ

for $1,749,500. This home was built in 1960.

PRIME OPPORTUNITY TO PARTICIPATE IN TEMPE'S DOWNTOWN RENAISSANCE. SURROUNDED BY A COLLECTION OF HIGH-END COMMERCIAL/OFFICE DEVELOPMENTS, A BOUTIQUE HOTEL, AND TRENDY URBAN MULTI USE CONDOMINIUMS, THIS PROPERTY IS ONE OF THE BEST LOCATIONS FOR LONG TERM INVESTMENT GROWTH. THE PARCELS ARE ALSO LOCATED IN TEMPE'S TRANSPORTATION OVERLAY DISTRICT WHICH ADDS A WHOLE OTHER LAYER OF DEVELOPMENT POTENTIAL NOT FOUND ELSEWHERE. IN ADDITION, THE EXISTING 8 RENTAL UNITS ARE 100% OCCUPIED OFFERING IMMEDIATE CASH FLOW.

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Multi-Family Active

Price

$ 1,749,500

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 3,659

Style

Multiple Dwellings

Year Built

1960

Town/City

Tempe

County/Region

Maricopa

MLS | Web ID

6978065
Features
General
Sewer Sewer-In & Connected Public Sewer
Heating Heat Pump
Cooling Ceiling Fan(s) Electric Heat Pump Individual
Roof Built-Up
Zoning R3
Construction Materials Painted Block
Year Built 1960
Electric APS Individual Meter
Township 1N
Tax Year 2024
Ownership Fee Simple Fee Simple
Gross Income 0.0
Community Features No Pool
County Maricopa
Net Operating Income 70576.0
Operating Expense 3659.0
New Construction N
Property Type Multiple Dwellings
Attached Garage N
Subdivision Name ORTH SUB
Garage Y/N N
Status Active
Directions THE PROPERTY OCCUPIES 2 LOTS ON THE SOUTH WEST CORNER OF 5TH ST & FARMER IN TEMPE.
City Tempe
Disclosures None
High School District Tempe Union High School District
Open Parking Spaces 4.0
Number Of Units Total 8
Carport Y/N N
Tax Annual Amount 3659.0
Electric Expense 0.0
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
Tax Lot 1
Cap Rate 4.03
Senior Community N
New Financing: Cash True
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Interior
Flooring Other
Air Conditioning Y/N Y
Heating Y/N Y
Total Baths 0
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Exterior
Parking Features Off Street Detached Carport Add'l Parking Avail
Water Source City Franchise
Total Parking 8.0
Number of Buildings 2
Spa N
Lot Dimensions 167.5 X 100
Road Surface Type Concrete Gravel
Covered Spaces 4.0
Crops Included Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 508
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* Excluded Features
List By
Homesmart

Broker

Ron@RealtyronAz.com

Email

Affordability Calculator

$11,077
Per Month
97%
3%
0%
Monthly Principal & Interest
$10,772
Monthly Property Taxes
$305
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% 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
4327087 Elementary School
4327661 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
2/2/2026$1,749,500 Listed Price

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508 S FARMER Avenue, Tempe, AZ, 85281 is a Multi-Family Home for sale at $1,749,500. 508 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

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