515 W 2nd Street, Tempe, AZ 85281
- $650,000
- 3
- BD
- 3
- BA
- List Price
- $650,000
- Status
- ACTIVE
- Days on Market
- 0
- MLS#
- 7062358
- City
- Tempe
- Bedrooms
- 3
- Bathrooms
- 3
- Year Built
- 1955
Property Description
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.
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Additional Information
- Taxes
- $1,468
- Net Operating Income
- $29,974
- Cap Rate
- 4.61
- Units
- 3
- Parking Features
- Off Street
- Construction
- Block, Painted
- Roofing
- Composition, Foam
- Cooling
- Central Air
- Heating
- Central
- Zoning
- R3
- Subdivision
- State Plat No 12 Amd
- Community Features
- No Pool
- Electric
- APS
- Water
- Master Meter
- Tenant Pays
- Electricity, Gas
- New Financing
- FHA, Conventional, Cash
- Elementary School
- Scales Technology Academy
- High School
- Tempe High School
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Listing courtesy of Congress Realty, Inc..
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved.