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508 S Farmer Avenue, Tempe, AZ 85281

Tempe
Local realty services provided by:CENTURY 21 Northwest Realty
508 S Farmer Avenue,Tempe, AZ 85281
$1,649,500
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Pending
Listed by: ron fedri
Office: homesmart
MLS#:6978065
Source:ARMLS

Price summary

  • Price:$1,649,500

About this home

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.

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Home facts

  • Year built:1960
  • Listing ID #:6978065
  • Updated:April 06, 2026 at 07:54 PM

Heating and cooling

  • Cooling:Ceiling Fan(s), Electric, Heat Pump, Individual Cooling
  • Heating:Heat Pump

Structure and exterior

  • Year built:1960
  • Construction Materials:Block, Painted

Utilities

  • Water:City Franchise
  • Sewer:Sewer in & Connected

Finances and disclosures

  • Price:$1,649,500
  • Tax amount:$3,659 (2024)

Parking

  • Total parking spaces:8
  • Parking description:Additional Parking Available
MLS LogoAll information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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