1218-1222 S Farmer Avenue, Tempe, AZ 85281

$1,400,000

Property Type: Multiple Dwellings Bedrooms: 9 Baths: 9 Status: Closed

Current Price: $1,400,000 Last Modified: 5/04/2026

Overview

Description

We are please to announce State College Home Apartments. 9 units walking distance to ASU and Mill Ave. These apartments have nice updates of new exterior paint and brand new landscaping. Two separate lots with 6 and 3 units. Individually metered for gas and electric.Some have newer windows floors and bathrooms and most kitchens have been updated. Also there is room in the back lot where you can build 2 to possible 3 more units. Parking in the front and back as well as covered parking. (8) one bedroom and (1) studio. Amazing value add with rents not being raised in over 10 years. Existing washer and dryer onsite coin operated. Most units are large enough to add stack able washer and dryer units. All facts and figures are approximate buyer verify MLS info Drive by on

Listing Details MLS# 6008284

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: 2019

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: 2019-12-20
Under Contract Date: 2019-12-01
Close of Escrow Date: 2019-12-20

Legal Info

Lot Number: 4,5

More Information

Efficiency Units

# Efficiency Units: Yes
Avg Rent: 800
Avg SqFt: 320
# Baths: Yes

1 Bedroom Units

# 1 Bedroom Units: 8
Avg Rent: 1015
Avg SqFt: 568
# Baths: Yes

Structure

Bedrooms Total: 9
Bathrooms Total: 9

Income Expenses

Gross Annual Sch Inc: 105000
Net Operating Income: 79046

Sold Info

Loan Type: Other
Payment Type: Other
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: Electric; Individual Water Source: City Franchise; 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 Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None 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

Listing Office: Grace CRE

Office Phone: 602-975-5516

Office Email: info@gracecre.com

Last Updated: May - 04 - 2026