$1,610,000
$1,675,000
3.9%For more information regarding the value of a property, please contact us for a free consultation.
1218 S FARMER Avenue Tempe, AZ 85281
Key Details
Sold Price $1,610,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision State College Homes Lots 41-48
MLS Listing ID 6919748
Sold Date 07/03/26
Year Built 1960
Annual Tax Amount $2,668
Tax Year 2024
Lot Dimensions 9523
Source Arizona Regional Multiple Listing Service (ARMLS)
Property Description
Exceptional investment opportunity in this well-maintained 9-unit multifamily property! Conveniently located in a desirable, high-demand rental area of Tempe, ASU. This 9-plex features 8-1bedroom units and 1- studio with strong rental history and low vacancy. Each unit offers functional layouts, and 15 dedicated parking. All units have been tastefully updated attracting quality long-term tenants. The property sits on a generous lot with potential for future development (buyer to verify). On-site laundry, separate utility meters, This is a turnkey addition to any investor's portfolio. Easy access to transit, ASU, shopping, and major employment centers. Whether you're a seasoned investor or entering the multifamily market, this is a rare chance to acquire a stable, cash-flowing asset.
Location
State AZ
County Maricopa
Community State College Homes Lots 41-48
Area Maricopa
Zoning R-3
Direction South on Farmer from University to property
Interior
Heating Heat Pump, Electric
Cooling Central Air, Ceiling Fan(s), Electric
Flooring Vinyl
Appliance Disposal, Dishwasher, Refrigerator, Built-In Electric Oven, Microwave
Exterior
Exterior Feature Sidewalk(s)
Parking Features Add'l Parking Avail, 1 Space/Unit, Carport
Community Features Barbecue, Play Area, No Pool
Roof Type Composition
Private Pool No
Building
Sewer Public Sewer
Water City Franchise
Structure Type Sidewalk(s)
New Construction No
Schools
Elementary Schools Holdeman Elementary School
Middle Schools Geneva Epps Mosley Middle School
High Schools Tempe High School
School District Tempe Union High School District
Others
Senior Community No
Tax ID 124-70-026
Acceptable Financing Owner May Carry, Conventional, 1031 Exchange
Disclosures None
Listing Terms Owner May Carry, Conventional, 1031 Exchange
Financing Exchange
Read Less
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved.
Bought with Civic Center Real Estate
Nearby Locations