Tempe, AZ Apartment Buildings for Sale

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Updated: Jul 22, 2025

Tempe Multifamily Investment Opportunity

1209, 1015, 1225 S. Ash Ave., Tempe, AZ 85281

$2,300,000

7,294 sqft

Prime location in the desirable, historic Maple‑Ash neighborhood of downtown Tempe.
Walking distance to Arizona State University (ASU).
Significant upside potential through renovations or redevelopment.
Opportunity to maximize rental income due to high demand for student/market‑rate housing.
Comprised of a mix of one and two‑bedroom floorplans, including two standalone houses.

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This listing looks promising.

Here's a quick look at some key insights for

1209, 1015, 1225 S. Ash Ave., Tempe, AZ 85281

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Est. Cap Rate

4.3%
NOI ÷ price
Est. NOI

$99K
Annual
Price @ 7% Cap

$1.41M
Suggested
Property Type

Single Family Residence
Built 1963

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Updated: Apr 10

Tempe Multifamily Near ASU Campus

1219 S Farmer Avenue, Tempe, AZ 85281

$1,420,000

7‑unit, garden‑style apartment property
5 of 7 units remodeled in the past 5 years; other two units occupied by long‑term tenants
Comprehensive renovations included significant roofing, plumbing, and electrical work
4 of 7 units have their own laundry facilities; washer/dryer and appliances include free‑standing range, refrigerator, and microwave
Central heating and cooling plus wall/window unit(s); cooling includes central air and wall unit(s)

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Tempe Garden-Style Apartment Complex

425,427 W 5th Street, Tempe, AZ 85281

$1,700,000

4,414 sqft 0.39 AC lot

Garden-style 10-plex near ASU Main Campus in Tempe.

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Garden-Style 10-Plex Apartment

425 - 427 W 5TH Street W, Tempe, AZ 85281

$1,700,000

Ten garden-style units include studios and one- and two-bedroom layouts near major Tempe employment and amenities.

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Garden-Style 10-Plex Near ASU

427 W 5th St, Tempe, AZ 85281

$1,700,000

4,414 sqft

Tempe 10-unit multifamily property, reposition opportunity, near ASU campus.

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Renovated Tempe Multifamily Investment Opportunity

1219 S FARMER AVE, Tempe, AZ 85281

$1,420,000

3,500 sqft

Multifamily property with recent renovations in Tempe, Arizona.

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Garden-Style 10-Plex Apartments

425-427 West 5th Street, Tempe, AZ 85281

$1,700,000

Garden-style 10-plex with studio to 1-2 bedroom units, offering an operator the chance to reposition a low-maintenance asset.

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Tempe Multifamily Investment Opportunity

1855 E Don Carlos, Tempe, AZ 85281

$11,250,000

56-unit apartment community in Tempe, Arizona. Value-add potential.

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Based on your search, we've compiled 23 Potential Opportunities for your consideration. Besides 8 Active listings in Tempe, AZ, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 7 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Phoenix Multifamily Investment Opportunity

2916 E Monroe St, Phoenix, AZ 85008

$1,040,000

4,309 sqft

Nine-unit multifamily property near Downtown and Sky Harbor Airport.

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Multifamily Community Near Employment Corridor

3044 E Fillmore St, Phoenix, AZ 85008

$6,850,000

41-unit multifamily property near major Phoenix employment and retail.

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Renovated Scottsdale Apartment Community

2635 Hayden Rd, Scottsdale, AZ 85257

$7,125,000

26-unit apartment community in Scottsdale, Arizona, with modern renovations.

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Mixed-Use Destination in Old Town

NWC Indian School Rd & Goldwater Blvd, Scottsdale, AZ 85251

Contact for pricing

29,731 sqft

Mixed-use property with retail, dining, and luxury residences.

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Potential Development Sites for Consideration

Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

San Jacinto Land with Utilities

Rosario, San Jacinto, CA 92583

$155,000

0.33 AC lot

Unique lot with utilities available for multiple residential uses.

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Pahrump Land Investment Opportunity

2001 Casino Street, Pahrump, NV 89048

Contact for pricing

0.31 AC lot

0.31 acre multi-family zoned lot in growing Pahrump, Nevada.

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Development Opportunity with DTLA Views

700 Lookout Dr, Los Angeles, CA 90012

$799,000

0.22 AC lot

Land with potential for up to 23 units.

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Lancaster Corner Lot Investment Opportunity

Newgrove Street, Lancaster, CA 93534

$350,000

0.17 AC lot

0.17-acre corner lot in Lancaster with development potential.

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Off-Market Properties in Tempe, AZ

Consider similar Off-Market properties in Tempe, AZ. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

Multifamily properties

1321 5Th St, Tempe, AZ 85281

Value Estimation by Request

2,760 sqft

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Restaurants

1986 University Dr, Tempe, AZ 85288

Value Estimation by Request

1,278 sqft

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Multifamily properties

1217 Southern Ave, Tempe, AZ 85282

Value Estimation by Request

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Multifamily properties

1106 Weber Dr, Tempe, AZ 85288

Value Estimation by Request

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Multifamily properties

914 Kenwood Cir, Tempe, AZ 85281

Value Estimation by Request

View details

Multifamily properties

1827 Lemon St, Tempe, AZ 85281

Value Estimation by Request

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Multifamily properties

1610 College Ave, Tempe, AZ 85281

Value Estimation by Request

2,362 sqft

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Tempe, AZ Apartment Buildings Market Trends and Statistics

Explore 15 apartment buildings for sale in Tempe, AZ, showcased through 8 active listings on our real estate platform. These investment opportunities span a total of 19,622 square feet of properties for sale, with an estimated market value of $7,120,000.

Sale prices for two-family homes in Tempe, AZ start at $1,420,000, averaging $1,780,000, and reaching up to $2,300,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Demographics Overview

Population 192K

Population Growth (5Y) +0.9%

Median Household Income $79,956

College Educated 32.7%

High-Yield Neighborhoods for Investment

Identify Tempe submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
85284	$1.7M
85281	$3.2M

Taxes & Financing

Tax Rate (average for all types) 5.89%

Property Tax per SF $77.06 per SF

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Maricopa County

New Delisted

Total CRE Inventory on Market (SF)

Property Size Breakdown

The majority of commercial real estate listings in Tempe fall within the 100,000+ square foot range.

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