1234 S FARMER Avenue, Tempe, AZ 85281

$949,995
Property Type: Multiple Dwellings Status: Active
Current Price: $949,995 Last Modified: 1/23/2026

Overview

Description

Incredible triplex in the heart of downtown Tempe—just a stone's throw from ASU! This well-maintained 1950 build sits on the corner of 13th & Farmer and includes two 2BR/1BA units (~900 sq ft each) and one ~600 sq ft studio. All three units are leased through July 2026, offering strong in-place cash flow. Updates include newer A/C units, a roof under 10 years old, and long-term ownership since 1996. Each unit has private access, with 410 W 13th featuring its own separate entrance. Prime walkable location near campus, Mill Ave, and Tempe Town Lake!

Listing Details MLS# 6887472

Location, Tax & Legal

House Number
1234
Compass
S
Street Name
FARMER
St Suffix
Avenue
City/Town Code
Tempe
State/Province
AZ
Zip Code
85281
Zip4
5782
Country
US
County Code
Maricopa
Subdivision
STATE COLLEGE HOMES LOTS 41-48
Assessor Number
124-70-031-B
Tax Year
2024
Assessor's Map #
70
Legal Description (Abbrev)
STATE COLLEGE HOMES MCR 36/20 N 31.5F OF E 7F OF E 60F OF W 120F OF LOTS 7 & 8
Assessor's Parcel #
31
Assessor Parcel Ltr
B
Add'l Parcels
Yes
Tax Municipality
Tempe
Census Tract
318900
Taxes
1979
Legal
STATE COLLEGE HOMES MCR 36/20 N 31.5F OF E 7F OF E 60F OF W 120F OF LOTS 7 & 8
Marketing Name
STATE COLLEGE HOMES

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
100 x 70
Year Built
1950
Uncvrd Parking Spcs
3
Total # of Units
3
# of Buildings
Yes
Zoning
R3
Flood Zone
No
Elementary School District
Tempe School District
High School District
Tempe Union High School District
Elementary School
Holdeman Elementary School
Jr. High School
Geneva Epps Mosley Middle School
High School
Tempe High School

Remarks Misc

Cross Street
13th St & Mill Ave
Directions
West on 13th St / Right on Farmer. Home is on the corner of 13th and Farmer.

Legal Info

Township
1N
Range
4E
Section
21
Lot Number
7

Income Expenses

Gross Annual Sch Inc
45600
Net Operating Income
38906.8

More Information

Showing Notification Methods

Showing Service
No Showing Service Used
Text
Yes
Phone Call
Yes

Efficiency Units

Avg Rent
1266
Avg SqFt
800
# Baths
Yes

1 Bedroom Units

# 1 Bedroom Units
Yes
Avg Rent
900
Avg SqFt
600
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
2
Avg Rent
1450
Avg SqFt
900
# Baths
Yes

Contact Info

List Agent Home Phn
480-982-6767

Project Type

Tri-Plex
Yes

Construction

Block
Yes

Const - Finish

Painted
Yes

Roofing

Composition
Yes

Floors

Concrete
Yes
Ceramic Tile
Yes

Sale Includes

Land & Building
Yes

Income & Expenses

Annual Ins Exp
2117
Annual Maint Exp
1525
Owner Association
No
Annual Ownr Asoc Fee
0
Annual Other Expense
1071.66
Operating Exp
6692.66
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
45600

Pmt & Rate Info

Cap Rate
4.1
Equity
949995
Down Payment %
0
Monthly Payments
0
Total Owed
0

Lockbox Type

None
Yes

Community Features

No Pool
Yes

Heating

Electric
Yes

Cooling

Ceiling Fan(s)
Yes
Central Air
Yes
Electric
Yes
Window/Wall Unit
Yes

Exterior Amenities

Sidewalk(s)
Yes

Tenant Pays

Water
Yes
Electricity
Yes
Trash Collection
Yes

Appliances Included

Free-Standing Electric Oven
Yes
Microwave
Yes
Refrigerator
Yes
Washer/Dryer
Yes
W/D Hookup
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Owner
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

1 Space/Unit
Yes

Electric

SRP
Yes

Gas

SW Gas
Yes

Owner Pays

None
Yes

New Financing

Cash
Yes
VA
Yes
Conventional
Yes
FHA
Yes
Owner May Carry
Yes

Existing 1st Loan

Treat as Free&Clear
Yes

Reports/Disclosures

None
Yes

Environmental

None
Yes

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: Tri-Plex Construction: Block Const - Finish: Painted Roofing: Composition Floors: Concrete; Ceramic Tile Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Sidewalk(s) Appliances Included: Free-Standing Electric Oven; Refrigerator; Microwave; Washer/Dryer; W/D Hookup Cooling: Ceiling Fan(s); Electric; Window/Wall Unit; Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: 1 Space/Unit Road Surface Type: Asphalt Owner Pays: None Tenant Pays: Water; Electricity; Trash Collection Source of Fincl Data: Owner Showing Notification Methods: Text; Phone Call Lockbox Type: None Existing 1st Loan: Treat as Free&Clear New Financing: Cash; VA; FHA; Conventional; Owner May Carry Environmental: None
IDX
Listing Office: Venture REI, LLC
Last Updated: January - 23 - 2026
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