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    1061 W 5Th St, Unit 3 Tempe, AZ 85281

    New
    For Sale
    $299,000

    LAND - Tempe, AZ

    Lot size:
    0.24 Acres
    Days on Market:
    4
    Last Refresh:
    Dec 7 at 2:06 pm

    Property Features for 1061 W 5Th St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R-3
    APN
    124-36-190
    Lot size
    0.24 Acres

    Kate Rose Realty (602) 722-7673 [email protected]

    Listing agent Kate Rose (602) 722-7673

    Listing date Dec 4, 2025

    MLS# 6846759 Listing URL

    Copyright © 2025 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Land Near ASU for Housing

    This 0.24-acre land parcel presents an opportunity to construct housing approximately one mile from ASU. An easement from 5th St is in place. The footprint of any buildings should not exceed 5000 square feet, with a maximum height of 30 feet. The property is currently zoned R3, allowing for three dwellings, but it could potentially be rezoned to R4 for four dwellings with a preliminary review and rezoning application. According to the Master Community Development plans, the property is already designated as R4, which may facilitate the rezoning process. The seller has also learned that including garages as part of the footprint square footage could potentially allow for four units due to parking ratio considerations. The other three APNs are 124-36-188, 124-36-189, and 124-36-191. The property is located in Tempe, Arizona.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Daycare Center Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.954359
    Latitude
    33.424835

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    FAQs

    What type of property is this?
    Land - Land near ASU, suitable for building up to 4 dwellings.
    Where is this land located?
    The property is located at 1061 W 5Th St, Unit 3 Tempe, AZ.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: - Prime location: Just one mile from ASU.; - Zoned R3 with potential to rezone to R4 (4 dwellings).; - Total of 0.24 AC across 4 lots (APNs: 124-36-188, 124-36-189, 124-36-191, and listed APN).
    (602) 722-7673
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1061 W 5Th St, Unit 3 Tempe, AZ 85281
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