515 W 2ND Street Tempe, AZ ^$ 650,000

515 W 2ND Street

^$ 650,000

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Recently Listed

515 W 2ND Street

Tempe, AZ, 85281

^$ 650,000

Bedrooms3 Baths0.0

Monthly Estimate*

^$ 4,104

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Multi-Family Home for sale in Tempe, AZ

for $650,000 with 3 bedrooms. This home was built in 1955.

Downtown Tempe Triplex. Genuinely close to Valley Metro Light Rail, Town Lake, Tempe Streetcar, and Arizona State University. Neighboring Mill Avenue dining, shopping, and entertainment. Well-cared-for, low-maintenance building that speaks to the rarity and desirability of a multifamily property in this location. New roof 2024; 2 new A/C units and 3 new tankless smart water heaters installed in 2026. Suitable for an investor or owner-occupants looking to live in one unit while generating rental income from the other two. Seller Will Consider buyer closing cost concessions.

Multi-Family Active

Price

^$ 650,000

Bedrooms

Property Type

Multi-Family

Taxes

^$ 1,468

Style

Multiple Dwellings

Year Built

1955

Town/City

Tempe

County/Region

Maricopa

MLS | Web ID

7062358

Features

General

Sewer Public Sewer

Heating Central

Cooling Central Air

Roof Composition Foam

Zoning R3

Construction Materials Painted Block

Year Built 1955

Electric APS

Township 1N

Tax Year 2025

Ownership Fee Simple Fee Simple

Gross Income 38000.0

Community Features No Pool

County Maricopa

Net Operating Income 29974.0

Operating Expense 3268.0

New Construction N

Property Type Multiple Dwellings

Attached Garage N

Subdivision Name STATE PLAT NO 12 AMD

Garage Y/N N

Status Active

Directions Wilson to 2nd Street Second building on the Left.

High School Tempe High School

City Tempe

Disclosures Seller Prop Disc Stm

High School District Tempe Union High School District

Open Parking Spaces 5.0

Number Of Units Total 3

Carport Y/N N

Elementary School Scales Technology Academy

Tax Annual Amount 1468.0

Water Sewer Expense 1800.0

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 1

Cap Rate 4.61

New Financing: Conventional True

Senior Community N

New Financing: FHA True

New Financing: Cash True

Interior

Flooring Tile Concrete

Air Conditioning Y/N Y

Heating Y/N Y

Total Bedrooms 3

Total Baths 3

Exterior

Parking Features Off Street

Water Source Master Meter

Total Parking 5.0

Number of Buildings 1

Spa N

Lot Dimensions 73x96

Road Surface Type Asphalt

Covered Spaces 0.0

Crops Included Y/N N

Irrigation Water Rights Y/N N

Internal Only

Street Number 1 515

* Excluded Features

List By

Congress Realty, Inc.

Broker

support@congressrealty.com

Affordability Calculator

$4,227

Per Month

Monthly Principal & Interest: $4,104
Monthly Property Taxes: $122
Monthly Home Insurance: --

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Yearly 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

Trends
Schools

Multi-family listings in Tempe, AZ

Average List Price ^$1,163,593

Percent of Sale Price 79%

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.

4327390 Elementary School

4327661 Middle School

Tempe High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
8/4/2026	$650,000		Listed Price

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515 W 2ND Street, Tempe, AZ, 85281 is a Multi-Family Home for sale at $650,000. 515 W 2ND Street has 3 bedrooms, 0.0 baths, and was built in 1955. The property's zip code is 85281 which is in Tempe, AZ

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: 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.

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 8/5/2026.

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515 W 2ND Street

Multi-Family Home for sale in Tempe, AZ

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