508 S FARMER Avenue, Tempe, AZ 85281
508 S FARMER Avenue, Tempe, AZ 85281
508 S FARMER Avenue, Tempe, AZ 85281
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$1,649,500
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508 S FARMER Avenue Tempe, AZ 85281

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Key Details

Property Type Multi-Family

Listing Status Pending

Purchase Type For Sale

Subdivision Orth Sub

MLS Listing ID 6978065

Year Built 1960

Annual Tax Amount $3,659

Tax Year 2024

Lot Dimensions 167.5 X 100

Source Arizona Regional Multiple Listing Service (ARMLS)

Property Description

PRIME REDEVELOPMENT OPPORTUNITY IN DOWNTOWN TEMPE. SURROUNDED BY A COLLECTION OF HIGH-END COMMERCIAL/OFFICE DEVELOPMENTS, A BOUTIQUE HOTEL, AND TRENDY URBAN MULTI USE CONDOMINIUMS, THIS PROPERTY IS ONE OF THE LAST BEST INFILL LOCATIONS AVAILABLE FOR LONG TERM INVESTMENT GROWTH. THE 2 PARCELS ARE ALSO LOCATED IN TEMPE'S TRANSPORTATION OVERLAY DISTRICT, ALLOWING ADDITIONAL DEVELOPMENT OPTIONS NOT FOUND IN OTHER R3 ZONED CITY NEIGHBORHOODS. IN ADDITION, THE EXISTING 8 RENTAL UNITS ARE 100% OCCUPIED OFFERING IMMEDIATE CASH FLOW DURING THE PLANNING PROCESS.

Location

State AZ

County Maricopa

Community Orth Sub

Area Maricopa

Zoning R3

Direction THE PROPERTY OCCUPIES 2 LOTS ON THE SOUTH WEST CORNER OF 5TH ST & FARMER IN TEMPE.

Interior

Heating Heat Pump

Cooling Ceiling Fan(s), Electric, Heat Pump, Individual

Flooring Other

Appliance Refrigerator, Free-Standing Gas Oven

Exterior

Parking Features Off Street, Detached Carport, Add'l Parking Avail

Community Features No Pool

Roof Type Built-Up

Private Pool No

Building

Sewer Sewer-In & Connected, Public Sewer

Water City Franchise

New Construction No

Schools

School District Tempe Union High School District

Others

Senior Community No

Tax ID 124-33-002-A

Acceptable Financing Owner May Carry

Disclosures None

Listing Terms Owner May Carry

Arizona Regional MLS (ARMLS)

Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

Listed by HomeSmart • Ron Fedri

NEARBY SCHOOL & BUSINESS

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RealEZtate Pros

RealEZtate Pros

+1(480) 420-9486

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