1214 S FARMER Avenue, Tempe, AZ 85281

$660,000
Property Type: Multiple Dwellings Bedrooms: 6 Baths: 6 Status: Closed
Current Price: $660,000 Last Modified: 6/15/2026

Overview

Description

6 Units walking distance to Mill Ave and Arizona State University. Two Buildings on one parcel two units one story and two story 4 Plex. 6 Units 1 Bed 1 Bath with a sub-let studio lease Dec 15 for $500 a month including utilities. New owner has an opportunity to add the Studio to one of the current 1 bedrooms making it a 2bed 2 bath. 100% occupied. Proforma is using current 2015 vacancy of 2.75%. 4 Units feature desirable two story with living down and bedroom up including hip industrial staircase. Roof for 1 story is a 25 year laminated /3D installed 1994. The roof on the two story is flat Tuff Foam roof system NEW Dec 2015. 5 A/C heat pumps installed 2013. Close of Escrow for 1214 S Farmer Ave. only After Jan 2 2016. The infor

Listing Details MLS# 5320345

Location, Tax & Legal

Map Code/Grid
R37
House Number
1214
Compass
S
Street Name
FARMER
St Suffix
Avenue
City/Town Code
Tempe
State/Province
AZ
Zip Code
85281
Zip4
5775
Country
US
County Code
Maricopa
Subdivision
STATE COLLEGE HOMES LOTS 33-40
Assessor Number
124-70-025
Tax Year
2014

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
50X190
Year Built
1947
Uncvrd Parking Spcs
2
Total # of Units
6
# of Buildings
2
Zoning
R-3
Elementary School District
Tempe Elementary School District

Remarks Misc

Cross Street
Mill and University
Directions
12th St. and Farmer Ave. Tempe. University and Mill. West one block to Farmer Ave. South to property on West side of street

Status Change Info

Off Market Date
2016-05-24
Under Contract Date
2016-04-20
Close of Escrow Date
2016-06-30

Legal Info

Lot Number
3

More Information

1 Bedroom Units

# 1 Bedroom Units
6
Avg Rent
792
Avg SqFt
711
# Baths
Yes

Structure

Bedrooms Total
6
Bathrooms Total
6

Income Expenses

Gross Annual Sch Inc
57132
Net Operating Income
40588

Sold Info

Loan Type
Conventional
Loan Years
30
Payment Type
Fixed
Closing Cost Split
Normal - N
Buyer Concession $/%
$
Seller Concession $/%
$

Property Features

Project Type: Duplex; Four Plex; 5 - 12 Units Construction: Block Const - Finish: Stucco Roofing: Composition; Foam Floors: Ceramic Tile; Carpet Sale Includes: Land & Building Community Features: Other; See Remarks Appliances Included: Built-In Range; Refrigerator Heating: Individual Cooling: Heat Pump; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: APS; Individual Meter Gas: None Parking Features: 1 Space/Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Owner; Projected Proforma Existing 1st Loan: Other (See Rmks) Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Other (See Remarks) Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Other (See Remarks) Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Conventional; 1031 Exchange Environmental: None
IDX
Listing Office: Better Homes & Gardens Real Estate SJ Fowler
Office Phone: 480-649-3536
Last Updated: June - 15 - 2026
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