1301 W 3RD Street, Tempe, AZ 85281

$800,000
Property Type: Multiple Dwellings Bedrooms: 6 Baths: 4 Status: Closed
Current Price: $800,000 Last Modified: 10/06/2025

Overview

Description

Prime Tempe 4-Plex - Great investment opportunity in a highly sought-after Tempe location! The property features two spacious 2-bedroom/1-bath units and two 1-bedroom/1-bath units, each with its own front patio. The one-bedroom units also enjoy private enclosed yards, perfect for added tenant appeal. Shared amenities include an on-site laundry room and rear parking. Nestled on a quiet, well-kept street with numerous remodeled homes, this property is just minutes from ASU campus, Carvana Headquarters, Phoenix Sky Harbor International Airport, the 202 freeway. With some long-term tenants already in place, there's significant upside potential for upgrades and market rent increases. Exceptional Value-Add Potential. Please do not disturb residents!

Listing Details MLS# 6905604

Location, Tax & Legal

House Number
1301
Compass
W
Street Name
3RD
St Suffix
Street
City/Town Code
Tempe
State/Province
AZ
Zip Code
85281
Zip4
2466
Country
US
County Code
Maricopa
Subdivision
GRIFFITH ESTATES
Assessor Number
124-28-038
Tax Year
2024

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
8359
Year Built
1979
Uncvrd Parking Spcs
6
Total # of Units
4
# of Buildings
Yes
Zoning
R3
Flood Zone
No
Elementary School District
Tempe School District
High School District
Tempe Union High School District
Elementary School
Scales Technology Academy
Jr. High School
Geneva Epps Mosley Middle School
High School
Tempe High School

Remarks Misc

Cross Street
PRIEST & UNIVERSITY
Directions
from 202 exit to Priest, South of Rio Salado Pkwy to 3rd Street, East to property on the right.

Status Change Info

Off Market Date
2025-09-16
Under Contract Date
2025-08-19
Close of Escrow Date
2025-09-30

Legal Info

Township
1N
Range
4E
Section
16
Lot Number
Yes

More Information

1 Bedroom Units

# 1 Bedroom Units
2
Avg Rent
1050
Avg SqFt
650
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
2
Avg Rent
1400
Avg SqFt
750
# Baths
Yes

Structure

Bedrooms Total
6
Bathrooms Total
4

Income Expenses

Gross Annual Sch Inc
44700
Net Operating Income
38520

Showing Notification Methods

Showing Service
Aligned Showings

Sold Info

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

Property Features

Project Type: Four Plex Construction: Block Const - Finish: Painted Roofing: Other Floors: Vinyl; Ceramic Tile; Carpet Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Fenced; Separate Storage Interior Features: Unfurnished Appliances Included: Refrigerator; Washer/Dryer; Other Cooling: Ceiling Fan(s); Electric; Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Projected Proforma Showing Notification Methods: Text; Phone Call Lockbox Type: Supra Existing 1st Loan: Treat as Free&Clear 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: Other (See Remarks)
IDX
Listing Office: Real Broker
Office Phone: 602-755-3415
Office Email: Membership@TheRealBrokerage.com
Last Updated: October - 06 - 2025
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