1145 W SOUTHERN Avenue, Tempe, AZ 85282
$950,000
Property Type:
Multiple Dwellings
Status:
Pending
Current Price:
$950,000
List Date:
7/11/2025
Last Modified:
2/07/2026
Description
DO NOT DISTURB TENANTS. Rarely available, turnkey Tempe 4-plex situated on a premium, oversized lot with exceptional visibility directly on Southern Ave. Meticulously maintained and exhibiting true pride of ownership, this income-producing asset features four spacious 2-bed, 1-bath units, all on month-to-month leases, providing immediate flexibility and upside on below-market rents.
Extensive recent capital improvements include new ABS plumbing, a newer roof, updated AC units, fresh interior and exterior paint, modern appliances, and updated finishes—allowing for hands-off operation from day one. The nearly 11,000 sq ft lot—one of the largest among neighboring 4-plexes—adds long-term value and redevelopment appeal.
More Information MLS# 6888728
Contract Info
Ownership: Fee Simple
Current Price: $950,000
List Price: $950,000
Status: Pending
List Date: 2025-07-04
Location, Tax & Legal
Assessor's Map #: 42
Legal Description (Abbrev): WESTWAY PARK
Assessor's Parcel #: 72
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319705
Taxes: 2779
Tax District: T
Legal: WESTWAY PARK
Marketing Name: 1145 W Southern
House Number: 1145
Compass: W
Street Name: SOUTHERN
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85282
Zip4: 4528
County Code: Maricopa
Subdivision: WESTWAY PARK
Assessor Number: 123-42-072
Tax Year: 2024
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 5
Lot Size Dimensions: 106x125
Flood Zone: No
Total # of Units: 4
Elementary School District: Tempe School District
High School District: Tempe Union High School District
High School: Tempe High School
Year Built: 1970
Zoning: R-3R
Project Type
Four Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Foam: 1
Floors
Vinyl: 1
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Maint Exp: 3000
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 5779
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 58596
Total Monthly Rental Income: 5140
Pmt & Rate Info
Cap Rate: 6.18
Equity: 950000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Heat Pump: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Exterior Amenities
Desert Landscaping: 1
Partially Fenced: 1
Separate Storage: 1
Interior Features
Fire/Smoke Alarm(s): 1
Mini Blinds: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Disposal: 1
Microwave: 1
Refrigerator: 1
Built-In Range: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
>1 Space Per Unit: 1
Paved: 1
Add'l Parking Avail: 1
Assigned: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Cash: 1
VA: 1
Conventional: 1
FHA: 1
1031 Exchange: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1285
Avg SqFt: 750
# Baths: 4
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: Southern & Priest
Directions: From Priest, east on Southern. Property located on the SE corner of Southern and S Shafer Dr.
Geo Lat: 33.392536
Geo Lon: -111.956612
Status Change Info
Off Market Date: 2026-01-26
Under Contract Date: 2026-01-25
Legal Info
Lot Number: 072
Income Expenses
Gross Annual Sch Inc: 61680
Net Operating Income: 58680
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted
Roofing: Foam
Floors: Vinyl; Carpet
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Partially Fenced; Separate Storage
Interior Features: Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: Built-In Range; Refrigerator; Disposal; Microwave; Washer/Dryer
Heating: Heat Pump
Cooling: Ceiling Fan(s); Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: Carport; >1 Space Per Unit; Add'l Parking Avail; Assigned; Paved
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner
Lockbox Type: None
New Financing: Cash; VA; FHA; Conventional; 1031 Exchange
Environmental: None
Listing Office:
Citiea
Last Updated: February - 07 - 2026
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