1231 N OLEANDER Street, Tempe, AZ 85288 (MLS# 6960414)

1231 N OLEANDER Street, Tempe, AZ 85288

$1,200,000

Property Type: Multiple Dwellings Status: Active

Current Price: $1,200,000 Last Modified: 3/25/2026

Description

Price Drop $95,000!! Turnkey 5-Unit Investment Near ASU & Old Town Scottsdale. Fully renovated in 2019 with near-zero vacancy in a high-demand rental market. Unit mix includes four 2BD/1BA units and one 1BD/1BA unit, each featuring updated interiors, vinyl flooring, modern cabinetry, granite countertops, dual-pane windows, new A/C systems, and upgraded security doors. Large private gated patios enhance tenant appeal. Low-maintenance asset offering stable cash flow and long-term appreciation potential.

More Information MLS# 6960414

Contract Info

Current Price: $1,200,000 List Price: $1,200,000 Status: Active List Date: 2025-12-23 Ownership: Fee Simple

Location Tax Legal

House Number: 1231 Compass: N Street Name: OLEANDER St Suffix: Street City/Town Code: Tempe State/Province: AZ Zip Code: 85288 Zip4: 1847 Country: US County Code: Maricopa Subdivision: NORTH TEMPE 2 Assessor Number: 132-13-035 Tax Year: 2025

General Property Description

Lot Size Dimensions: 7,070 SF Year Built: 1958 Uncvrd Parking Spcs: 2 Total # of Units: 5 # of Buildings: 2 Zoning: [R-2] Multi-Fam Elementary School District: Tempe School District High School District: Tempe Union High School District Elementary School: Cecil Shamley School Jr. High School: McKemy Academy of International Studies High School: McClintock High School

Remarks Misc

Cross Street: Scottsdale Rd & Curry Rd Directions: South on Miller to Tempe Dr. West to Oleander Geo Lat: 33.442403 Geo Lon: -111.918705

Legal Info

Lot Number: 185

Income Expenses

Gross Annual Sch Inc: 81060 Net Operating Income: 72317.27

Showing Notification Methods

Showing Service: Aligned Showings

1 Bedroom Units

# 1 Bedroom Units: 1 Avg Rent: 1100 Avg SqFt: 550 # Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 4 Avg Rent: 1400 Avg SqFt: 685 # Baths: 1

Property Features

Project Type: 5 - 12 Units Construction: Block; Wood Frame; Brick Const - Finish: Painted Roofing: Foam Floors: Vinyl Sale Includes: Land & Building Community Features: No Pool Appliances Included: Free-Standing Gas Oven; Refrigerator; Dishwasher; Disposal; Microwave Cooling: Ceiling Fan(s); Electric; Central Air; 2 or More Units Water Source: Individual Meter Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: On Street; 1 Space/Unit; Assigned; Paved Road Surface Type: Dirt; Asphalt Owner Pays: Landscaping; See Remarks Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Cable TV Source of Fincl Data: Owner; Books Shwn Accpt Ofr Lockbox Type: See Private Remarks; None New Financing: Cash; Conventional Environmental: None

Documents

Unbranded Flyer ›

Listing Office: Midland Real Estate Alliance

Last Updated: March - 25 - 2026

1231 N OLEANDER Street, Tempe, AZ 85288 (MLS# 6960414)