2205 S MILL Avenue, Tempe, AZ 85282 (MLS# 7087067)

2205 S MILL Avenue, Tempe, AZ 85282

$1,899,000

Property Type: Multiple Dwellings Bedrooms: 11 Baths: 8 Status: Active

Current Price: $1,899,000 Last Modified: 9/30/2026

Overview

Description

Marcus & Millichap has been retained as the exclusive listing agent for the sale of Courtyard on Mill, an eight-unit, fully renovated, gated multifamily community on Mill Avenue in Tempe, Arizona, one mile south of Arizona State University. Every unit was renovated and re-leased in 2026 on new 12-month terms, and 77.27% of scheduled rent is paid through HOM Inc. and Section 8 housing-assistance contracts. A buyer acquires a turnkey asset with durable income, no near-term rollover and no deferred capital plan -- at $237,375 per unit, below every renovated multifamily sale in the Tempe and South Scottsdale comparable set and below the unrenovated five-plex two blocks away.

Listing Details MLS# 7087067

Location, Tax & Legal

House Number: 2205
Compass: S
Street Name: MILL
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85282
Zip4: 2134
Country: US
County Code: Maricopa
Subdivision: TEMPE ESTATES
Assessor Number: 133-23-062
Tax Year: 2026

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 10064
Year Built: 1959
Total # of Units: 8
# of Buildings: Yes
Zoning: R-4
Flood Zone: No
Elementary School District: Tempe School District
High School District: Tempe Union High School District
High School: Tempe High School

Remarks Misc

Cross Street: Mill Ave & E Palmcroft Dr

Legal Info

Township: 1N
Range: 4E
Section: 27
Lot Number: 33

1 Bedroom Units

# 1 Bedroom Units: 6
Avg Rent: 1490
Avg SqFt: 625
# Baths: Yes

More Information

2 Bedroom Units

# 2 Bedroom Units: Yes
Avg Rent: 1811
Avg SqFt: 1000
# Baths: Yes

3 Bedrooms Units

# 3 Bedroom Units: Yes
Avg Rent: 2490
Avg SqFt: 1200
# Baths: Yes

Structure

Bedrooms Total: 11
Bathrooms Total: 8

Income Expenses

Gross Annual Sch Inc: 158916
Net Operating Income: 122859

Showing Notification Methods

Showing Service: No Showing Service Used

Property Features

Project Type: 5 - 12 Units Construction: Block Const - Finish: Stucco Roofing: Composition Floors: Laminate Sale Includes: Land & Building Community Features: Barbecue Exterior Amenities: Landscape Water System; Desert Landscaping; Rain Gutters; Fenced; Patio/Balcony Appliances Included: Free-Standing Electric Oven; Refrigerator; Microwave; W/D Hookup Cooling: Electric Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: 1 Space/Unit; Detached Carport Road Access Type: City Street Road Surface Type: Asphalt Road Responsibility: City Maintained Road Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Lockbox Type: None New Financing: Cash; VA; Conventional Environmental: None

Listing Office: Marcus & Millichap

Office Phone: 602-687-6700

Office Email: rsarbinoff@marcusmillichap.com

Last Updated: September - 30 - 2026