1218 S FARMER Avenue, Tempe, AZ 85281
$1,675,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$1,675,000
Last Modified:
2/19/2026
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.
More Information MLS# 6919748
Contract Info
Current Price: $1,675,000
List Price: $1,675,000
Status: Active
List Date: 2025-09-15
Ownership: Fee Simple
Location Tax Legal
House Number: 1218
Compass: S
Street Name: FARMER
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 5500
County Code: Maricopa
Subdivision: STATE COLLEGE HOMES LOTS 41-48
Assessor Number: 124-70-026
Tax Year: 2024
General Property Description
Lot Size Dimensions: 9523
Year Built: 1960
Uncvrd Parking Spcs: 6
Total # of Units: 9
# of Buildings: 3
Zoning: R-3
Flood Zone: No
Elementary School District: Tempe School District
High School District: Tempe Union High School District
Elementary School: Holdeman Elementary School
Jr. High School: Geneva Epps Mosley Middle School
High School: Tempe High School
Remarks Misc
Cross Street: University & Farmer
Directions: South on Farmer from University to property
Geo Lat: 33.415331
Geo Lon: -111.944654
Legal Info
Township: 1N
Range: 4E
Section: 21
Lot Number: 4
Income Expenses
Gross Annual Sch Inc: 122400
Net Operating Income: 108667
Showing Notification Methods
Showing Service: Aligned Showings
Efficiency Units
# Efficiency Units: 1
Avg Rent: 1000
Avg SqFt: 450
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 8
Avg Rent: 1150
Avg SqFt: 725
# Baths: 1
Property Features
Project Type: 5 - 12 Units
Construction: Block; Wood Frame
Const - Finish: Painted
Roofing: Composition
Floors: Vinyl
Sale Includes: Laundry Equipment
Community Features: No Pool; Play Area; Barbecue
Exterior Amenities: Landscape Water System; Fenced; Cable TV Available; Sidewalk(s); Separate Storage; Security Light(s)
Interior Features: Unfurnished; Mini Blinds
Appliances Included: Built-In Electric Oven; Refrigerator; Dishwasher; Disposal; Microwave
Heating: Heat Pump
Cooling: Ceiling Fan(s); Electric; Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking Features: Carport; 1 Space/Unit; Add'l Parking Avail
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity; Gas
Source of Fincl Data: Owner
Showing Notification Methods: Text
Lockbox Type: Other
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Terms: Not Applicable
New Financing: Cash; Conventional; Owner May Carry; 1031 Exchange
Environmental: None
Listing Office: Civic Center Real Estate
Last Updated: February - 19 - 2026
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