1229 E Spence Avenue Tempe, AZ ^$ 1,600,000

1229 E Spence Avenue

^$ 1,600,000

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1229 E Spence Avenue

Tempe, AZ, 85281

^$ 1,600,000

Studio Baths0.0

Monthly Estimate*

^$ 9,982

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Studio

Multi-Family Home for sale in Tempe, AZ

for $1,600,000. This home was built in 1940.

Rare opportunity to purchase a R-4 (High Density) zoned multi family land and homes with frontage on Spence Ave in the heart of ASU campus. Listing included two residential houses, next to each out, zoned for high density multifamily. Nestled in a robust infill Arizona State location, this property is a beacon for savvy investors seeking unparalleled opportunities. Walk to Campus. Unmatched demographics include over 350,000 population count within a five-mile radius. Parcel numbers 133-09-045 and 133-09-055 **Buyer to verify all facts, figures, schools & measurements**

Multi-Family Active

Price

^$ 1,600,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

^$ 1,450

Style

Multiple Dwellings

Year Built

1940

Town/City

Tempe

County/Region

Maricopa

MLS | Web ID

6950797

Features

General

Sewer See Remarks

Heating See Remarks

Cooling See Remarks

Roof Composition

Zoning R-4

Construction Materials Wood Frame Painted

Year Built 1940

Electric Other (See Remarks)

Tax Year 2025

Ownership Fee Simple Fee Simple

Gross Income 0.0

Community Features See Remarks No Pool

County Maricopa

Net Operating Income 0.0

Operating Expense 1450.0

Property Type Multiple Dwellings

Attached Garage N

Subdivision Name STANLEY PLAT & KENNETH PLACE

Garage Y/N N

Status Active

Directions South on Rural East on Sp

City Tempe

Disclosures None

Open Parking Spaces 2.0

Number Of Units Total 2

Lot Size Square Feet 0.0

Carport Y/N N

Tax Annual Amount 1450.0

Lease Renewal Y/N N

Additional Parcels Y/N Y

Lease Considered Y/N N

Rent Control Y/N N

Standard Status Active

Tax Lot 5 & 6

Senior Community N

New Financing: Cash True

Interior

Flooring Concrete

Air Conditioning Y/N N

Heating Y/N N

Total Baths 0

Exterior

Parking Features Paved Free 1 Space/Unit

Water Source See Remarks

Total Parking 3.0

Lot Size Area 0.0

Number of Buildings 2

Spa N

Lot Dimensions Irregual

Lot Size Acres 0.0

Covered Spaces 1.0

Crops Included Y/N N

Irrigation Water Rights Y/N N

Internal Only

Street Number 1 1229

* Excluded Features

List By

Realty One Group

Broker

jason.miszuk@gmail.com

Affordability Calculator

$10,103

Per Month

Monthly Principal & Interest: $9,982
Monthly Property Taxes: $121
Monthly Home Insurance: --

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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 ^$1,165,093

Percent of Sale Price 27%

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.

260072 Elementary School

263420 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
11/23/2025	$1,600,000		Listed Price

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1229 E Spence Avenue, Tempe, AZ, 85281 is a Multi-Family Home for sale at $1,600,000. 1229 E Spence Avenue is a studio with 0.0 baths and was built in 1940. 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 6.375% 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 12/7/2025.

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1229 E Spence Avenue

Multi-Family Home for sale in Tempe, AZ

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