Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$1,675,000
Last Modified:
9/15/2025
Search
1218 S FARMER Avenue, Tempe, AZ 85281
$1,675,000
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
Ownership: Fee Simple
Current Price: $1,675,000
List Price: $1,675,000
Status: Active
List Date: 2025-09-15
Location, Tax & Legal
Assessor's Map #: 70
Legal Description (Abbrev): LOT 4 STATE COLLEGE HOMES LOTS 41-48 MCR 003620
Assessor's Parcel #: 26
Add'l Parcels: Yes
Tax Municipality: Tempe
Census Tract: 318900
Taxes: 2668
Legal: LOT 4 STATE COLLEGE HOMES LOTS 41-48 MCR 003620
Marketing Name: ASU
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
# of Buildings: 3
Uncvrd Parking Spcs: 6
Lot Size Dimensions: 9523
Flood Zone: No
Total # of Units: 9
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
Year Built: 1960
Zoning: R-3
Legal Info
Range: 4E
Section: 21
Township: 1N
Lot Number: 4
Project Type
5 - 12 Units: 1
Construction
Block: 1
Wood Frame: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Sale Includes
Laundry Equipment: 1
Income & Expenses
Annual Elec Exp: 0
Annual Ins Exp: 4000
Annual Landscape Exp: 1200
Annual Legal & Acctg: 4933
Annual Wtr/Swr Exp: 4800
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 17601
Other Income: 3600
Vacancy Allowance: 0.05
Adjusted Gross Inc: 119700
Pmt & Rate Info
Cap Rate: 6.49
Equity: 1675000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Text: 1
Lockbox Type
Other: 1
Community Features
No Pool: 1
Play Area: 1
Barbecue: 1
Heating
Heat Pump: 1
Electric: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Electric: 1
Exterior Amenities
Landscape Water System: 1
Fenced: 1
Cable TV Available: 1
Sidewalk(s): 1
Separate Storage: 1
Security Light(s): 1
Interior Features
Unfurnished: 1
Mini Blinds: 1
Tenant Pays
Gas: 1
Electricity: 1
Appliances Included
Built-In Electric Oven: 1
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
1 Space/Unit: 1
Add'l Parking Avail: 1
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Cash: 1
Conventional: 1
Owner May Carry: 1
1031 Exchange: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
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
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: University & Farmer
Directions: South on Farmer from University to property
Geo Lat: 33.415331
Geo Lon: -111.944654
Income Expenses
Gross Annual Sch Inc: 122400
Net Operating Income: 108667
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: September - 15 - 2025
Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.