1214 South Farmer Avenue, Tempe, AZ for sale

Investment Overview

1214 S Farmer Avenue is a fully occupied seven-unit multifamily property located in the highly desirable Tempe submarket. Originally constructed in 1947/1958, the property features a workforce housing unit mix consisting of six one-bedroom/one-bath units and one studio unit. Zoned R-3, the asset offers investors stable in-place occupancy with long-term upside potential in one of Metro Phoenix's most supply-constrained rental markets. Situated just minutes from Arizona State University, Downtown Tempe, Tempe Town Lake, and major employment centers throughout the Southeast Valley, the property benefits from strong rental demand driven by a diverse population of students, professionals, and long-term residents. The location also offers convenient access to Loop 202, Loop 101, Interstate 10, and Phoenix Sky Harbor International Airport, providing exceptional connectivity throughout the region. Offered at $1,490,000 ($213,000/unit), the property presents an opportunity to acquire a stabilized multifamily asset in one of Arizona's most established and economically vibrant submarkets.