1218-1222 S Farmer Avenue, Tempe, AZ 85281

$748,000
Property Type: Multiple Dwellings Bedrooms: 9 Baths: 9 Status: Closed
Current Price: $748,000 Last Modified: 6/15/2026

Overview

Description

Great opportunity, walking to Mill Ave and ASU. Two separate lots with 6 and 3 units. 8 - 1 bed/1 Bath and 1 studio. The lot with 3 units now with studio has opportunity to join front two units and build three new units on the rear of the lot. Individually metered for gas and electric. Desert landscape, property well maintained by same owner since 1975. Owner also has 14 units for sale at 903-920 S Farmer Ave Tempe(see attachment for flyer) and 6 units next store with close of sale Jan 2016. Opportunity for 29 units total. Buyer to verify all financials, property facts and figures during due diligence period

Listing Details MLS# 5316231

Location, Tax & Legal

Map Code/Grid
R36
House Number
1218-1222
Compass
S
Street Name
Farmer
St Suffix
Avenue
City/Town Code
Tempe
State/Province
AZ
Zip Code
85281
Country
US
County Code
Maricopa
Subdivision
State College Homes Lots 30-40
Assessor Number
124-70-026
Tax Year
2014

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
19000 sq
Year Built
1947
Uncvrd Parking Spcs
15
Total # of Units
9
# of Buildings
2
Zoning
c-3
Elementary School District
Tempe Elementary School District
High School District
Tempe Union High School District

Remarks Misc

Cross Street
Farmer Ave & 12 St.
Directions
University and Mill. West to Farmer Ave. South to Property.

Status Change Info

Off Market Date
2015-10-08
Under Contract Date
2015-08-24
Close of Escrow Date
2015-10-24

Legal Info

Lot Number
4,5

More Information

Efficiency Units

# Efficiency Units
Yes
Avg Rent
520
Avg SqFt
320
# Baths
Yes

1 Bedroom Units

# 1 Bedroom Units
8
Avg Rent
682
Avg SqFt
568
# Baths
Yes

Structure

Bedrooms Total
9
Bathrooms Total
9

Income Expenses

Gross Annual Sch Inc
71736
Net Operating Income
46738

Sold Info

Loan Type
Conventional
Loan Years
25
Payment Type
Fixed
Closing Cost Split
Normal - N
Buyer Concession $/%
$
Seller Concession $/%
$

Property Features

Project Type: Tri-Plex; 5 - 12 Units Construction: Block Const - Finish: Painted Roofing: Composition Floors: Vinyl; Carpet Sale Includes: Land & Building Community Features: Other; See Remarks Exterior Amenities: Other (See Remarks) Appliances Included: Built-In Range; Free-Standing Range; Refrigerator; Dishwasher; Microwave Heating: Individual Cooling: Individual Water Source: Master Meter Sewer: Sewer - Public Electric: APS; Individual Meter Gas: SW Gas; Individual Meter Parking Features: 1 Space/Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Gas; Cable TV Source of Fincl Data: Owner; Projected Proforma Existing 1st Loan: Conventional; 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 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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