1027 S FARMER Avenue 7, Tempe, AZ 85281 (MLS# 7077357)

1027 S FARMER Avenue 7, Tempe, AZ 85281

New Listing

$495,000

Property Type: Land Lot Size (sq. ft.): 7,125 Status: Active

Current Price: $495,000 List Date: 9/08/2026 Last Modified: 9/15/2026

Overview

Description

PRIME TEMPE DEVELOPMENT OPPORTUNITY | RARE MULTIFAMILY BUILD SITE NEAR ASU | TWO PARCELS, ENDLESS POTENTIAL This parcel may be purchased individually or together with the adjacent parcel 124-70-003, offering the opportunity for a larger redevelopment site. See MLS #7077345 for the adjacent parcel. A rare opportunity to secure a prime redevelopment site in the heart of Tempe, just minutes from ASU. Located in one of the Valley's most sought-after multifamily submarkets, with R-3 zoning allowing medium-density multifamily development. Whether you're an investor or developer looking to capitalize on the area's strong student-housing demand and proximity to ASU, this site offers an opportunity to bring your vision to life. Opportunities of this scale and proximity to ASU are rare to find

Listing Details MLS# 7077357

Location, Tax & Legal

House Number: 1027
Compass: S
Street Name: FARMER
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 5501
Country: US
County Code: Maricopa
Assessor Number: 124-70-002
Subdivision: FARMERS ADDITION BLOCKS 1-2 PART 3 LOTS 1-5
Tax Year: 2025
Lot #: 7
Assessor's Map #: 70
Legal Description (Abbrev): FARMERS
Assessor's Parcel #: 2
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 318900
Taxes: 2714

Contract Information

For Sale or Lease?: Sale
Type: Exclusive Right To Sell

General Property Description

Apx Total Acres: 0.16
Apx Total Acres G/N: G
Price Per Acre: 3093750
Apx SqFt: 7125
Price Per SqFt: 69.47
Apx SqFt G/N: G
Lot Size Dimensions: 142.5'x50'
Zoning: R-3
High School District: Tempe Union High School District

Legal Info

Township: 1N
Range: 4E
Section: 21
Lot Number: 7

Showing Notification Methods

Showing Service: Aligned Showings

More Information

Special Listing Cond

N/A: Yes

Pmt & Rate Info

Equity: 495000
Total Owed: 0

Assoc/Prop Info

HOA Y/N: N
PAD Fee Y/N: N
Assessed Balance: 0

Lockbox Type

None: Yes

Existing Land Use

Other (See Rmks): Yes

Zoned Presently

Single Family: Yes
Multi-Family: Yes

Potential Use

Single Family: Yes
Multi-Family: Yes

Parcel Size

.0 - .24 Acres: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Electric

APS: Yes

Gas

None: Yes

Distance to Cable

Call Listing Office: Yes

New Financing

Cash: Yes
Conventional: Yes

Distance to Phone

Call Listing Office: Yes

Distance to Water

Call Listing Office: Yes

Distance to Electric

Call Listing Office: Yes

Distance to Gas

Call Listing Office: Yes

Distance to Sewer

Call Listing Office: Yes

Reports/Disclosures

ALTA Survey Alba: Yes

Environmental

None: Yes

Property Features

Special Listing Cond: N/A Existing Land Use: Other (See Rmks) Zoned Presently: Single Family; Multi-Family Potential Use: Single Family; Multi-Family Parcel Size: .0 - .24 Acres Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: None Distance to Cable: Call Listing Office Distance to Phone: Call Listing Office Distance to Water: Call Listing Office Distance to Electric: Call Listing Office Distance to Gas: Call Listing Office Distance to Sewer: Call Listing Office New Financing: Cash; Conventional Environmental: None Lockbox Type: None

Listing Office: eXp Realty

Last Updated: September - 15 - 2026