509 W 2ND Street, Tempe, AZ 85281

$650,000
Property Type: Multiple Dwellings Bedrooms: 3 Baths: 3 Status: Active
Current Price: $650,000 Last Modified: 10/16/2026

Overview

Description

Downtown Tempe Triplex. Genuinely close to Valley Metro Light Rail, Town Lake, Tempe Streetcar, and Arizona State University. Neighboring Mill Avenue dining, shopping, and entertainment. Well-cared-for, low-maintenance building that reflects the rarity and desirability of multifamily property in this area. New roof in 2024; 2 new A/C units and 3 new tankless smart water heaters installed in 2026. Suitable for an investor or owner-occupant looking to live in one unit while generating rental income from the other two. Seller Will Consider buyer closing cost concessions.

Listing Details MLS# 7062358

Location, Tax & Legal

House Number
509
Compass
W
Street Name
2ND
St Suffix
Street
City/Town Code
Tempe
State/Province
AZ
Zip Code
85281
Zip4
2796
Country
US
County Code
Maricopa
Subdivision
STATE PLAT NO 12 AMD
Assessor Number
124-32-044-D
Tax Year
2025

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
73x96
Year Built
1955
Uncvrd Parking Spcs
5
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
Scales Technology Academy
High School
Tempe High School

Remarks Misc

Directions
Wilson to 2nd Street, Second building on the Left.

Legal Info

Township
1N
Range
4E
Section
16
Lot Number
Yes

1 Bedroom Units

# 1 Bedroom Units
3
Avg Rent
1100
Avg SqFt
520
# Baths
Yes

More Information

Structure

Bedrooms Total
3
Bathrooms Total
3

Income Expenses

Gross Annual Sch Inc
40000
Net Operating Income
29974

Showing Notification Methods

Showing Service
Aligned Showings

Property Features

Project Type: Tri-Plex Construction: Block Const - Finish: Painted Roofing: Composition; Foam Floors: Tile; Concrete Sale Includes: Building(s) Only; Land & Building Community Features: No Pool Appliances Included: Built-In Range; Refrigerator; Dishwasher; Washer/Dryer Heating: Central Cooling: Central Air Water Source: Master Meter Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: Off Street Road Access Type: City Street Road Surface Type: Asphalt Road Responsibility: City Maintained Road Owner Pays: Water Tenant Pays: Electricity; Gas Source of Fincl Data: Owner Showing Notification Methods: Text Lockbox Type: See Private Remarks Existing Othr Ln Trm: Not Applicable New Financing: Cash; FHA; Conventional Environmental: None
IDX
Listing Office: Congress Realty, Inc.
Office Phone: 888-881-4118
Office Email: info@congressrealty.com
Last Updated: October - 16 - 2026
Broker Attribution: 888-881-4118

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