903-921 S Farmer Avenue, Tempe, AZ 85281

$1,218,000

Property Type: Multiple Dwellings Bedrooms: 14 Baths: 14 Status: Closed

Current Price: $1,218,000 Last Modified: 6/15/2026

Overview

Description

14 Units , 4 buildings single story all 1bed/1bath. Owner has been hands on since he bought in 1989. Roofs on 3 out of 4 buildings are 50 year with 10 years left. 4th Roof has 10 years left per inspector. All AC units are 2005 regularly maintained. Desert landscape separating buildings, 10 Units have private walled patio's. Covered parking with Dusk/Dawn lighting, 1 carport per Tenant. Tenants each pay for gas water heater gas and APS for all units: heat pumps, microwaves, electric glass top stoves(915 & 921 (6) units, dishwasher. 903-909 (8 units generally have separate wall ovens and stove tops.) All Water pipes are copper. New electric panels installed 2014 for all 14 units. Victoria Style Bath with Moen Fixtures. Buyer to verify all items prior to end of due diligence period

Listing Details MLS# 5303929

Location, Tax & Legal

Map Code/Grid: R36
House Number: 903-921
Compass: S
Street Name: Farmer
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Country: US
County Code: Maricopa
Subdivision: Farmers BLKS 4-5& PT 3, Lots 6-9
Assessor Number: 124-69-011
Tax Year: 2015

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 123x205
Year Built: 1964
Uncvrd Parking Spcs: 2
Total # of Units: 14
# of Buildings: 4
Zoning: R-3
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District

Remarks Misc

Cross Street: 9th St and Farmer
Directions: Mill Ave & University. West on University, South on Farmer Property southeast Corner of 9th St and Farmer.

Status Change Info

Off Market Date: 2015-11-24
Under Contract Date: 2015-10-09
Close of Escrow Date: 2015-12-08

Legal Info

Lot Number: 1-4

More Information

1 Bedroom Units

# 1 Bedroom Units: 14
Avg Rent: 682
Avg SqFt: 603
# Baths: Yes

Structure

Bedrooms Total: 14
Bathrooms Total: 14

Income Expenses

Gross Annual Sch Inc: 114627
Net Operating Income: 76690

Sold Info

Loan Type: Conventional
Loan Years: 25
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: %
Seller Concession $/%: %

Property Features

Project Type: 13 - 24 Units Construction: Block Const - Finish: Painted Roofing: Composition Floors: Ceramic Tile; Carpet Sale Includes: Land & Building; Laundry Equipment Community Features: Other; See Remarks Exterior Amenities: Desert Landscaping; Patio/Balcony; Security Light(s) Appliances Included: Built-In Range; Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave Heating: Natural Gas; Individual Cooling: Heat Pump; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: City Gas; Individual Meter Parking Features: 1 Space/Unit; Paved; Other Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Gas; Cable TV Source of Fincl Data: Owner; Projected Proforma; Other (See Remarks) Existing 1st Loan: Other (See Rmks) 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; 1031 Exchange Environmental: Other (See Remarks)

Listing Office: Better Homes & Gardens Real Estate SJ Fowler

Office Phone: 480-649-3536

Last Updated: June - 15 - 2026