421 S TERRY Lane Tempe, AZ $ 769,999
421 S TERRY Lane
$ 769,999
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421 S TERRY Lane

Tempe, AZ, 85281
$ 769,999
Baths0.0

Monthly Estimate*

$ 4,862

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Studio

Multi-Family Home for sale in Tempe, AZ

for $769,999. This home was built in 1985.

Attention aspiring SHORT TERM RENTAL owners!! This is an amazing opportunity to turn a profit and own an investment property. Numbers for only ONE side of the duplex provide a $39K revenue. To help ease the new owners worries there are new roofs on both sides, new AC unit on one side, new water heater on one side, both units come with W/D, refrigerators and blinds. This Is a prime Tempe investment opportunity! This beautifully updated duplex is located in one of the Valley's strongest rental markets, just minutes from Arizona State University, Sky Harbor International Airport, Downtown Tempe, Tempe Town Lake, and major employment hubs. With easy access to Loop 202, SR-143, and I-10, this is an ideal location for attracting long and short-term tenants. Each unit offers a modern, open-concept layout with designer finishes, granite countertops, stainless steel appliances, wood-look tile flooring, spacious bedrooms, private patios, and low-maintenance outdoor space. All features that help attract and retain quality tenants. The property has demonstrated strong rental demand and offers an excellent opportunity for investors seeking immediate income with long-term appreciation potential. Whether you're looking to expand your portfolio, complete a 1031 exchange, or live in one unit while generating rental income from the other, this property checks all the boxes. Opportunities to own a well-maintained duplex in this highly sought-after Tempe location are few and far between. Don't miss your chance to own an income-producing asset in one of Arizona's most consistently desirable rental markets.

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Multi-Family Active

Price

$ 769,999

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 1,729

Style

Multiple Dwellings

Year Built

1985

Town/City

Tempe

County/Region

Maricopa

MLS | Web ID

7057410

Features
General
Sewer Public Sewer
Heating Electric
Cooling Central Air
Roof Tile Built-Up
Zoning R-3
Construction Materials Wood Frame Painted Stucco
Year Built 1985
Electric APS
Township 1N
Tax Year 2025
Ownership Fee Simple Fee Simple
Gross Income 0.0
Community Features No Pool
County Maricopa
Net Operating Income 0.0
Operating Expense 1729.0
New Construction N
Property Type Multiple Dwellings
Attached Garage N
Subdivision Name MERCADO HOMES
Garage Y/N N
Status Active
Directions From Loop 202 exit south on Priest Dr. Turn right (west) on 5th St. then left on Terry Ln. Property is located on the right-hand side.
High School Tempe High School
City Tempe
Disclosures None
High School District Tempe Union High School District
Open Parking Spaces 8.0
Number Of Units Total 2
Carport Y/N N
Elementary School Scales Technology Academy
Tax Annual Amount 1729.0
Middle/Junior High School Geneva Epps Mosley Middle School
Lease Renewal Y/N N
Additional Parcels Y/N N
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
New Financing: Conventional True
Senior Community N
New Financing: FHA True
New Financing: Cash True
New Financing: VA True
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Interior
Flooring Carpet Ceramic Tile
Air Conditioning Y/N Y
Heating Y/N Y
Total Baths 0
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Exterior
Parking Features Paved Assigned >1 Space Per Unit
Water Source City Franchise
Total Parking 8.0
Number of Buildings 1
Spa N
Lot Dimensions 64' X 109.50'
Road Surface Type Asphalt
Covered Spaces 0.0
Crops Included Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 421
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* Excluded Features
List By
Realty One Group

Broker

Nikkiknowsre@gmail.com

Email

Affordability Calculator

$5,006
Per Month
97%
3%
0%
Monthly Principal & Interest
$4,862
Monthly Property Taxes
$144
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% 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
4327390 Elementary School
4327128 Middle School
Tempe High School High School
Pricing History
DatePricePrice ChangeDescription
7/23/2026$769,999 Listed Price

Map


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421 S TERRY Lane, Tempe, AZ, 85281 is a Multi-Family Home for sale at $769,999. 421 S TERRY Lane is a studio with 0.0 baths and was built in 1985. The property's zip code is 85281 which is in Tempe, AZ