Properties
Tempe, AZ 85281 1218 S FARMER Avenue
$1,675,000
43 more
Presented By: Civic Center Real Estate; 602-291-2090
Home Details
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.
Presented By: Civic Center Real Estate; 602-291-2090
Interior Features for 1218 S FARMER Avenue
Bathrooms
Total Baths
Other Interior Features
Air Conditioning Y/NYes
FlooringVinyl
Heating Y/NYes
General for 1218 S FARMER Avenue
Additional Parcels Y/NYes
Attached Garage No
Cap Rate6.49
Carport Y/NNo
CityTempe
Community FeaturesBarbecue, Play Area, No Pool
Construction MaterialsWood Frame, Painted, Block
CoolingCentral Air, Ceiling Fan(s), Electric
CountyMaricopa
DirectionsSouth on Farmer from University to property
DisclosuresNone
ElectricAPS
Electric Expense0.0
Elementary SchoolHoldeman Elementary School
Elementary School DistrictTempe School District
Garage Y/NNo
Gross Income119700.0
HeatingHeat Pump, Electric
High SchoolTempe High School
High School DistrictTempe Union High School District
Insurance Expense4000.0
Lease Considered Y/NNo
Lease Renewal Y/NNo
Middle/Junior High SchoolGeneva Epps Mosley Middle School
MobileHomeRemainsYNNo
Net Operating Income108667.0
New ConstructionNo
New Financing: CashTrue
New Financing: ConventionalTrue
Number Of Units Total9
Occupancy TypeTenant
Open Parking Spaces6.0
Operating Expense17601.0
OwnerPaysTrash Collection, Water, Sewer
OwnershipFee Simple
OwnershipFee Simple
Property TypeMultiple Dwellings
Rent Control Y/NNo
RoofComposition
Security FeaturesSecurity Light(s)
Senior CommunityN
SewerPublic Sewer
Standard StatusActive
StatusActive
Subdivision NameSTATE COLLEGE HOMES LOTS 41-48
Tax Annual Amount2668.0
Tax Lot4
Tax Year2024
Township1N
Water Sewer Expense4800.0
Year Built1960
ZoningR-3
Exterior for 1218 S FARMER Avenue
Covered Spaces10.0
Crops Included Y/NNo
Exterior AmenitiesSidewalk(s)
Irrigation Water Rights Y/NNo
Lot Dimensions9523
Number of Buildings3
Parking FeaturesAdd'l Parking Avail, 1 Space/Unit, Carport
Road Surface TypeAsphalt
SpaNo
Total Parking16.0
Water SourceCity Franchise
Additional Details
Price History
Schools
Middle School
Geneva Epps Mosley Middle School
Elementary School
Holdeman Elementary School
High School
Tempe High School
