111 E BONITA Way Tempe, AZ ^$ 850,000

111 E BONITA Way

^$ 850,000

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Recently Listed

111 E BONITA Way

Tempe, AZ, 85281

^$ 850,000

Bedrooms5 Baths0.0

Monthly Estimate*

^$ 5,367

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Multi-Family Home for sale in Tempe, AZ

for $850,000 with 5 bedrooms. This home was built in 1951.

Premier ASU Investment Opportunity -- renovated main house + detached ADU in process! Rare 11,000+ sqft lot minutes from Arizona State University. Ideal as a high-demand student rental, owner-occupied investment, or long-term hold. Move-in-ready 4BD/2BA main house w/ fresh paint & new flooring. New detached 1BD/1BA guest house--private entrance, full kitchen, stacked laundry--currently in process. Upgraded primary bath also underway. Projected combined rents $4,850-$5,450/mo; plans, timeline & rent analysis available on request. No HOA, detached garage + 6 spaces. Renderings depict completed construction. Cash & renovation-friendly financing welcome.

Multi-Family Active

Price

^$ 850,000

Bedrooms

Property Type

Multi-Family

Taxes

^$ 1,683

Style

Multiple Dwellings

Year Built

1951

Town/City

Tempe

County/Region

Maricopa

MLS | Web ID

7067136

Features

General

Sewer Public Sewer

Heating Electric

Cooling Central Air

Roof Composition

Zoning Residential

Construction Materials Painted Slump Block

Year Built 1951

Electric SRP

Township 1N

Tax Year 2025

Ownership Fee Simple Fee Simple

Gross Income 55290.0

Community Features No Pool

County Maricopa

Net Operating Income 55290.0

Operating Expense 1683.0

New Construction N

Property Type Multiple Dwellings

Attached Garage N

Subdivision Name UNIVERSITY ESTATES

Garage Y/N N

Status Active

Directions Head toward S Mill Ave. Turn left onto E Broadway Rd. Turn left onto S Encanto Dr. Turn right onto E Bonita Way. Home will be on the right.

High School Tempe High School

City Tempe

Disclosures None

High School District Tempe Union High School District

Open Parking Spaces 0.0

Number Of Units Total 1

Carport Y/N N

Elementary School Broadmor Elementary School

Tax Annual Amount 1683.0

Middle/Junior High School Connolly 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 Vacant

Elementary School District Tempe School District

Tax Lot 25 4

Cap Rate 6.5

New Financing: Conventional True

Senior Community N

New Financing: Cash True

New Financing: VA True

Interior

Flooring Carpet Vinyl

Air Conditioning Y/N Y

Heating Y/N Y

Total Bedrooms 5

Total Baths 3

Exterior

Parking Features Detached Garage

Water Source City Franchise

Total Parking 1.5

Number of Buildings 1

Spa N

Lot Dimensions Irregular

Road Surface Type Asphalt

Covered Spaces 1.5

Crops Included Y/N N

Irrigation Water Rights Y/N N

Internal Only

Street Number 1 111

* Excluded Features

List By

Exp Realty

Broker

Contract2CloseAZ@gmail.com

Affordability Calculator

$5,507

Per Month

Monthly Principal & Interest: $5,367
Monthly Property Taxes: $140
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 ^$969,207

Percent of Sale Price 14%

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.

4327515 Elementary School

4327180 Middle School

Tempe High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
8/15/2026	$850,000		Listed Price

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111 E BONITA Way, Tempe, AZ, 85281 is a Multi-Family Home for sale at $850,000. 111 E BONITA Way has 5 bedrooms, 0.0 baths, and was built in 1951. 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 8/16/2026.

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111 E BONITA Way

Multi-Family Home for sale in Tempe, AZ

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