Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$949,995
Last Modified:
7/09/2025
Search
1234 S FARMER Avenue, Tempe, AZ 85281
$949,995
Description
Incredible triplex in the heart of downtown Tempe—just a stone's throw from ASU! This well-maintained 1950 build sits on the corner of 13th & Farmer and includes two 2BR/1BA units (~900 sq ft each) and one ~600 sq ft studio. All three units are leased through July 2026, offering strong in-place cash flow. Updates include newer A/C units, a roof under 10 years old, and long-term ownership since 1996. Each unit has private access, with 410 W 13th featuring its own separate entrance. Prime walkable location near campus, Mill Ave, and Tempe Town Lake!
More Information MLS# 6887472
Contract Info
Ownership: Fee Simple
Current Price: $949,995
List Price: $949,995
Status: Active
List Date: 2025-06-30
Location, Tax & Legal
Assessor's Map #: 70
Legal Description (Abbrev): STATE COLLEGE HOMES MCR 36/20 N 31.5F OF E 7F OF E 60F OF W 120F OF LOTS 7 & 8
Assessor's Parcel #: 31
Assessor Parcel Ltr: B
Add'l Parcels: Yes
Tax Municipality: Tempe
Census Tract: 318900
Taxes: 1979
Legal: STATE COLLEGE HOMES MCR 36/20 N 31.5F OF E 7F OF E 60F OF W 120F OF LOTS 7 & 8
Marketing Name: STATE COLLEGE HOMES
House Number: 1234
Compass: S
Street Name: FARMER
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 5782
County Code: Maricopa
Subdivision: STATE COLLEGE HOMES LOTS 41-48
Assessor Number: 124-70-031-B
Tax Year: 2024
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 3
Lot Size Dimensions: 100 x 70
Flood Zone: No
Total # of Units: 3
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: 1950
Zoning: R3
Legal Info
Range: 4E
Section: 21
Township: 1N
Lot Number: 7
Project Type
Tri-Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Concrete: 1
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 1979
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 45600
Pmt & Rate Info
Cap Rate: 4.1
Equity: 949995
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Text: 1
Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Electric: 1
Window/Wall Unit: 1
Exterior Amenities
Sidewalk(s): 1
Tenant Pays
Water: 1
Electricity: 1
Trash Collection: 1
Appliances Included
Free-Standing Electric Oven: 1
Microwave: 1
Refrigerator: 1
Washer/Dryer: 1
W/D Hookup: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
1 Space/Unit: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
None: 1
New Financing
Cash: 1
VA: 1
Conventional: 1
FHA: 1
Owner May Carry: 1
Existing 1st Loan
Treat as Free&Clear: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Contact Info
List Agent Home Phn: 480-982-6767
Efficiency Units
Avg Rent: 1266
Avg SqFt: 800
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 900
Avg SqFt: 600
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1450
Avg SqFt: 900
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: 13th St & Mill Ave
Directions: West on 13th St / Right on Farmer. Home is on the corner of 13th and Farmer.
Geo Lat: 33.41494
Geo Lon: -111.944581
Income Expenses
Gross Annual Sch Inc: 45600
Net Operating Income: 38906.8
Property Features
Project Type: Tri-Plex
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Concrete; Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Sidewalk(s)
Appliances Included: Free-Standing Electric Oven; Refrigerator; Microwave; Washer/Dryer; W/D Hookup
Cooling: Ceiling Fan(s); Electric; Window/Wall Unit; Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: 1 Space/Unit
Road Surface Type: Asphalt
Owner Pays: None
Tenant Pays: Water; Electricity; Trash Collection
Source of Fincl Data: Owner
Showing Notification Methods: Text; Phone Call
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
New Financing: Cash; VA; FHA; Conventional; Owner May Carry
Environmental: None
Listing Office:
Venture REI, LLC
Last Updated: July - 09 - 2025
Copyright 2025 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.