1231 N OLEANDER Street, Tempe, AZ 85288

$1,125,000
Property Type: Multiple Dwellings Bedrooms: 9 Baths: 5 Status: Closed
Current Price: $1,125,000 Last Modified: 7/04/2026

Overview

Description

Price Drop $95,000!! Turnkey 5-Unit Investment Near ASU & Old Town Scottsdale. Fully renovated in 2019 with near-zero vacancy in a high-demand rental market. Unit mix includes four 2BD/1BA units and one 1BD/1BA unit, each featuring updated interiors, vinyl flooring, modern cabinetry, granite countertops, dual-pane windows, new A/C systems, and upgraded security doors. Large private gated patios enhance tenant appeal. Low-maintenance asset offering stable cash flow and long-term appreciation potential.

Listing Details MLS# 6960414

Location, Tax & Legal

House Number
1231
Compass
N
Street Name
OLEANDER
St Suffix
Street
City/Town Code
Tempe
State/Province
AZ
Zip Code
85288
Zip4
1847
Country
US
County Code
Maricopa
Subdivision
NORTH TEMPE 2
Assessor Number
132-13-035
Tax Year
2025

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
7,070 SF
Year Built
1958
Uncvrd Parking Spcs
2
Total # of Units
5
# of Buildings
2
Zoning
[R-2] Multi-Fam
Elementary School District
Tempe School District
High School District
Tempe Union High School District
Elementary School
Cecil Shamley School
Jr. High School
McKemy Academy of International Studies
High School
McClintock High School

Remarks Misc

Cross Street
Scottsdale Rd & Curry Rd
Directions
South on Miller to Tempe Dr. West to Oleander

Status Change Info

Off Market Date
2026-05-26
Under Contract Date
2026-05-22
Close of Escrow Date
2026-07-03

Legal Info

Lot Number
185

More Information

1 Bedroom Units

# 1 Bedroom Units
Yes
Avg Rent
1100
Avg SqFt
550
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
4
Avg Rent
1400
Avg SqFt
685
# Baths
Yes

Structure

Bedrooms Total
9
Bathrooms Total
5

Income Expenses

Gross Annual Sch Inc
81060
Net Operating Income
72317.27

Showing Notification Methods

Showing Service
Aligned Showings

Sold Info

Loan Type
Cash
Payment Type
Other
Closing Cost Split
Normal - N
Buyer Concession $/%
%
Seller Concession $/%
%

Property Features

Project Type: 5 - 12 Units Construction: Block; Wood Frame; Brick Const - Finish: Painted Roofing: Foam Floors: Vinyl Sale Includes: Land & Building Community Features: No Pool Appliances Included: Free-Standing Gas Oven; Refrigerator; Dishwasher; Disposal; Microwave Cooling: Ceiling Fan(s); Electric; Central Air; 2 or More Units Water Source: Individual Meter Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: On Street; 1 Space/Unit; Assigned; Paved Road Surface Type: Dirt; Asphalt Owner Pays: Landscaping; See Remarks Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Cable TV Source of Fincl Data: Owner; Books Shwn Accpt Ofr Lockbox Type: See Private Remarks; None New Financing: Cash; Conventional Environmental: None
IDX
Listing Office: Midland Real Estate Alliance
Office Phone: 480-325-1411
Office Email: tmyersaz@gmail.com
Last Updated: July - 04 - 2026
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