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$650,000
3 Beds ⋅ 3 Baths ⋅ 7062358 MLS
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 speaks to the rarity and desirability of a multifamily property in this location. New roof 2024; 2 new A/C units and 3 new tankless smart water heaters installed in 2026. Suitable for an investor or owner-occupants looking to live in one unit while generating rental income from the other two. Seller Will Consider buyer closing cost concessions.

509 W 2nd Street, Tempe
$769,999
7057410 MLS
Attention aspiring SHORT TERM RENTAL owners!! This is an amazing opportunity to turn a profit and own an investment property. Numbers for only ONE side of the duplex provide a $39K revenue. 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. 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 opportunity for investors seeking immediate income with long-term appreciation potential. Whether you're looking to expand your portfolio, complete a 1031 exchange, or live in one unit while generating rental income from the other, this property checks all the boxes. Opportunities to own a well-maintained duplex in this highly sought-after Tempe location are few and far between. Don't miss your chance to own an income-producing asset in one of Arizona's most consistently desirable rental markets.

421 S Terry Lane, Tempe
$750,000
7046255 MLS
Great opportunity to own within a community that very rarely has a building available! 4 Studio units with wall unit AC, Refrigerators and Stoves. Well cared for and maintained by this owner. This building is the southern most on the east side of the street, offering privacy for the occupants and ease of parking access from both the north and south side of the alleyway. Very low vacancy rate with such close access to ASU, downtown Tempe and the light rail.

1033 S Mariana Street, Tempe
$899,000
7041883 MLS
An amazing opportunity right here! Turnkey triplex that will come fully furnished! Not many multi-family buildings that offers a 4 bedroom/2 bathroom home with attached 2-car garage. The other two units are also 2/1 layouts mirroring each other. Each unit is set for its own individual utilities. Set in a quiet residential neighborhood, but still close to ASU, freeways, the airport and downtown, you truly get the best of both worlds. Perfect for the hands-off investor, or someone looking to live in it as well!

515 W Pebble Beach Drive, Tempe
$1,395,000
7036697 MLS
The property consists of seven units, across two buildings. The front building is a single story triplex, while the rear building is a two story loft style fourplex. The property is extremely well located, being just west of ASU's Tempe Campus. The unit mix is unknown, however two tenants are long term and five are short term.

1214 S Farmer Avenue, Tempe
$1,700,000
7035959 MLS
Enjoy Pride of ownership of an experienced Garden-Style 10-Plex in Tempe's Orth Subdivision. Current ownership approx. 40 years. Just a short distance to the ASU Main Campus. Near the 202 Freeway, Sky Harbor Airport and many desirable Restaurants & Attractions. There are 8-Studios approx. 388 sq/ft, 1/1-Bed approx. 550 sq/ft & 1/2-Bed approx. 750 sq/ft. Block Construction 1957 & 1963. Desirable Reposition Opportunity. Additional Address; 511 S. Wilson St. Additional Tax Code: 124-33-007A -

425 - 427 W 5th Street W, Tempe
$950,000
7017730 MLS
Fully renovated 3-unit income property offered as part of a rare five-unit residential compound spanning two adjacent parcels. This parcel includes one single-family residence plus a duplex for a total of three units, consisting of two 2-bedroom/1-bath units and one 3-bedroom/2-bath unit.Extensive upgrades completed throughout, including new HVAC systems, new roofs, all new electrical panels, new windows, and fully renovated interiors, providing a turnkey, low-capex asset. Property is adjacent to 1248 E Harry St, a separately parceled duplex. Together, both parcels function as a cohesive five-unit investment. Seller strongly prefers a concurrent sale of both parcels, though each is offered individually. There may be future development or density potential. Buyer to conduct due diligence.

1244 N Rose Street, Tempe
$1,420,000
7011894 MLS
This 7-unit, garden-style apartment property sits in an incredible location, approximately half a mile from ASU's main campus. Additionally, this property boasts proximity to Tempe Town Lake offices, Mill Avenue, the 202 freeway, and Sky Harbor Airport. Location isn't the only desirable characteristic of the Apartments on Farmer, as 5 of 7 units have been thoroughly remodeled in the past 5 years (the other two units are occupied by long-term tenants). Along with interior updates, the property's comprehensive renovation included significant roofing, plumbing, and electrical work, with 4 of 7 units now boasting their own laundry facilities. Six storage rooms also on site. Don't miss out on this incredible location!

1219 S Farmer Avenue, Tempe
$725,000
7011374 MLS
*Motivated seller* Exceptional investment opportunity near Arizona State University with a strong rental history. Fully remodeled in 2024, this duplex features updated finishes throughout, a brand-new roof, and modern kitchens in both units with white shaker cabinets and granite countertops. Shared laundry room includes washer and dryer for tenant convenience. Both units are tenant occupied, providing immediate income. One unit is leased month-to-month, and unit 2 leased from 6/6/26-Dec 2026. Prime location near ASU supports consistent rental demand, making this an excellent option for investors, owner-occupants, or house hackers looking to expand their portfolio.

1610 S College Avenue, Tempe
$1,299,900
7010331 MLS
This listing is a bulk sale for 7 identical condos at this property - Units 112, 115, 128, 138, 141, 207, 231. Each unit is rented with good solid tenants except unit 115 we left vacant for buyers to see the floor plan. There is still value ad for these 7 units as the rents can and should be increased in 2026. This is a great opportunity to purchase 7 units at the same located and have immediate cash flow from day one! Don't let this opportunity pass you by. Bring us an offer and lets Talk!

616 S Hardy Drive Unit 112, Tempe
$1,235,000
7007483 MLS
Turnkey duplex investment with major upgrades already done. Across the property, the exterior was painted in 2022, interior paint was refreshed throughout all units, roof/trim/overhang repairs were completed, and dry rot-damaged wood was replaced prior to painting. Ownership also added updated electrical outlets, switches, and GFIs, new interior door hardware, new exterior lighting, Nest WiFi thermostats, and Eufy WiFi front door locks for modern convenience and added security. Inside, the unit improvements create strong tenant appeal and a more polished, move-in-ready feel. Multiple units feature updated kitchens with new cabinetry, granite or quartz countertops, undermount sinks, backsplash details, and new appliances. Bathrooms have been refreshed with new vanities, mirrors, lighting, upgraded fixtures, and remodeled showers, including a fully tiled walk-in shower in one unit and a Spanish mosaic tile shower in another. Additional upgrades include new flooring in select units, low-E energy-efficient windows, ceiling fans with remotes, blackout curtains, TV mounts, water filtration, and updated plumbing components. A well-improved multifamily opportunity with thoughtful interior and exterior updates already in place.

117 W 10th Street, Tempe
$800,000
6987718 MLS
LOT + PLANS for 8 Unit Townhome Community! Includes plans 8 single family attached townhomes!! 5 Parcels included. Prime Development Opportunity on University Drive. Ideal for a Commercial Site or Possibly Multi-Family Use. Rare chance to acquire a 1/2-acre assemblage on University Drive in Tempe, comprising 5 APN numbers, all selling together. This property offers expansive development potential with convenient freeway access, just 5 minutes from ASU and 11 minutes from Sky Harbor Airport. Don't miss out on this prime opportunity in a rapidly growing area!

807 S George Drive, Tempe
$1,035,000
6974014 MLS
Looking to start the year off with a great investment opportunity or to house hack in one of the city's strongest rental markets? Look no further than 1224 S Smith Rd. This well-located 4-plex sits in a high-demand rental corridor minutes from ASU, light rail, downtown Tempe, major freeways, and employment hubs. Surrounded by major education, transportation, and lifestyle anchors that drive consistent tenant demand year-round. With strong tenant demand, low vacancy risk, and value-add upside through rental optimization makes this a rare opportunity in one of Tempe's most desirable investment locations.

1224 S Smith Road, Tempe
$1,375,000
6950797 MLS
Rare opportunity to purchase a R-4 (High Density) zoned multi family land and homes with frontage on Spence Ave in the heart of ASU campus. Listing included two residential houses, next to each out, zoned for high density multifamily. Nestled in a robust infill Arizona State location, this property is a beacon for savvy investors seeking unparalleled opportunities. Walk to Campus. Unmatched demographics include over 350,000 population count within a five-mile radius. Parcel numbers 133-09-045 and 133-09-055 **Buyer to verify all facts, figures, schools & measurements**

1229 E Spence Avenue, Tempe
$2,450,000
6924208 MLS
Rare Investment Opportunity in Prime Tempe Location! Don't miss this incredible chance to own four beautifully remodeled patio homes on one lot in the heart of the Maple & Ash Historic District—just steps from ASU's main campus! This turnkey, multi-unit property includes: Three 2 bed / 1 bath units One 2 bed / 2 bath unit - Each home is thoughtfully updated and move-in ready, featuring: Modern kitchens with updated appliances In-unit washer/dryer Spacious covered patios Private, fenced yards Dedicated carports with additional storage Ample overflow parking in the back lot. Located just 1,200 feet from the iconic Frank Lloyd Wright-designed Gammage Theater, and only a 3-minute walk to ASU, this property sits in one of Tempe's most sought-after neighborhoods. Walk to Mill Avenue, Tempe Town Lake, and top local spots like Casey Moore's Oyster House, with quick access to Scottsdale, the airport, and multiple MLB spring training venues. Whether you're looking for a prime income-generating asset or a strategic location for future appreciation, this property checks all the boxes. **Check the documents tab for full details on renovations, upgrades, and individual unit features.

117 W 10th Street, Tempe

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