1201 S Farmer Ave, Tempe, AZ for sale

Investment Overview

Seize a rare Urban Infill Opportunity in Tempe's sought-after Farmer Arts District—with immediate access to the Light rail and Tempe Streetcar it is a walkable, thriving neighborhood perfect for ASU Students. It's near the Mill Avenue/Apache Blvd Bend, Tempe Town Lake, and Arizona State University. This lot is ready to build and *fully entitled from the City of Tempe in January 2025 for a proposed 3-Story 4-plex residential apartment project. The plans allow for a 7,315 SF four-plex consisting of 4 THREE BEDROOM UNITS with 12 BEDROOMS TOTAL and COVERED PARKING BELOW.(Illustrations Attached) Located near the valley's most sought-after retail center, residents will enjoy close access to an extensive selection of top retailers. The neighborhood offers a blend of vintage appeal and redevelopment flexibility. Surrounded by record-setting investment activity and continued urban growth, this location is ideal for multi-family residential, office, or mixed-use potential. This is a strategic chance to build, or invest, in one of Tempe's most energized districts.

Investment Highlights

• Zoned R-3
• Located in Tempe
• Prime investment opportunity
• Strong potential for multifamily development
• Desirable location for renters
• Proximity to amenities and transportation