421 S TERRY Lane, Tempe, AZ 85281

$749,999
Property Type: Multiple Dwellings Bedrooms: 4 Baths: 4 Status: Active
Current Price: $749,999 Last Modified: 10/21/2026

Overview

Description

Attention INVESTORS two rented units with instant cashflow! To help ease the new owners worries there are new roofs on both sides, new AC unit on one side, new water heater on one side, both units come with W/D, refrigerators and blinds. This Is a prime Tempe investment opportunity! This beautifully updated duplex is located in one of the Valley's strongest rental markets, just minutes from Arizona State University, Sky Harbor International Airport, Downtown Tempe, Tempe Town Lake, and major employment hubs. With easy access to Loop 202, SR-143, and I-10, this is an ideal location for attracting long and short-term tenants.

Supplements: Each unit offers a modern, open-concept layout with designer finishes, granite countertops, stainless steel appliances, wood-look tile flooring, spacious bedrooms, private patios, and low-maintenance outdoor space. All features that help attract and retain quality tenants. The property has demonstrated strong rental demand and offers an excellent o ...

Listing Details MLS# 7057410

Location, Tax & Legal

House Number
421
Compass
S
Street Name
TERRY
St Suffix
Lane
City/Town Code
Tempe
State/Province
AZ
Zip Code
85281
Zip4
8008
Country
US
County Code
Maricopa
Subdivision
MERCADO HOMES
Assessor Number
124-29-001-K
Tax Year
2025

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
64' X 109.50'
Year Built
1985
Uncvrd Parking Spcs
8
Total # of Units
2
# of Buildings
Yes
Zoning
R-3
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 Dr & University Dr
Directions
From Loop 202, exit south on Priest Dr. Turn right (west) on 5th St., then left on Terry Ln. Property is located on the right-hand side.

Legal Info

Township
1N
Range
4E
Section
16
Lot Number
4

2 Bedroom Units

# 2 Bedroom Units
2
Avg Rent
1900
Avg SqFt
876
# Baths
2

More Information

Structure

Bedrooms Total
4
Bathrooms Total
4

Income Expenses

Gross Annual Sch Inc
45480

Showing Notification Methods

Showing Service
Aligned Showings

Property Features

Project Type: Duplex Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Built-Up; Tile Floors: Ceramic Tile; Carpet Sale Includes: Building(s) Only Community Features: No Pool Exterior Amenities: Fenced; Patio/Balcony Interior Features: Fire/Smoke Alarm(s); Mini Blinds Appliances Included: Free-Standing Electric Oven; Refrigerator; Disposal; Microwave; Washer/Dryer Cooling: Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: >1 Space Per Unit; Assigned; Paved Road Access Type: City Street Road Surface Type: Asphalt Road Responsibility: City Maintained Road Owner Pays: Other Tenant Pays: Other (See Remarks) Source of Fincl Data: Other (See Remarks) Showing Notification Methods: Text; Phone Call Lockbox Type: Combo Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Cash; VA; FHA; Conventional; 1031 Exchange Environmental: None
IDX
Listing Office: Realty ONE Group
Office Phone: 480-321-8100
Office Email: ron.copus@realtyonegroup.com
Last Updated: October - 21 - 2026
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