1218 S Farmer Avenue, Tempe, AZ 85281
- $1,610,000
- 9
- BD
- 9
- BA
- Sold Price
- $1,610,000
- List Price
- $1,675,000
- Status
- CLOSED
- Closing Date
- Jul 03, 2026
- Days on Market
- 285
- MLS#
- 6919748
- City
- Tempe
- Bedrooms
- 9
- Bathrooms
- 9
- Year Built
- 1960
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.
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Additional Information
- Taxes
- $2,668
- Net Operating Income
- $108,667
- Cap Rate
- 6.49
- Units
- 9
- Parking Features
- 1 Space/Unit, Carport
- Construction
- Block, Wood Frame, Painted
- Roofing
- Composition
- Cooling
- Central Air, Electric, Ceiling Fan(s)
- Heating
- Electric, Heat Pump
- Zoning
- R-3
- Exterior Features
- Sidewalk(s)
- Subdivision
- State College Homes Lots 41-48
- Community Features
- No Pool, Play Area, Barbecue
- Electric
- APS
- Water
- City Franchise
- Sewer
- Public Sewer
- Tenant Pays
- Electricity, Gas
- New Financing
- Conventional, 1031 Exchange, Owner May Carry, Cash
- Elementary School
- Holdeman Elementary School
- Middle School
- Geneva Epps Mosley Middle School
- High School
- Tempe High School
Courtesy of Civic Center Real Estate. 602-291-2090 Selling Office: Civic Center Real Estate.
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