508 S Farmer Avenue, Tempe, AZ 85281

Tempe
Local realty services provided by:Better Homes and Gardens Real Estate BloomTree Realty
508 S Farmer Avenue,Tempe, AZ 85281
$1,649,500
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Active
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:March 19, 2026 at 03:10 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
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