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    117 W 10TH Street Tempe, AZ 85281

    View on Map
    For Sale
    $2,450,000

    MULTI_FAMILY - Tempe, AZ

    Added:
    Sep 23, 2025
    Days on Market:
    190
    Last Refresh:
    Mar 31 at 8:06 pm

    Property Features for 117 W 10TH Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    [R-2] Multi-Fam
    Bedrooms
    8
    Rooms
    Bathroom 1, Bedroom 4, Bathroom 5, Bathroom 3, Bedroom 6, Bedroom 2, Bedroom 7, Bathroom 2, Bedroom 5, Bathroom 4, Bedroom 1, Bedroom 8, Bedroom 3
    Parking features
    Assigned, Carport
    Security features
    Security Alarm
    Exterior features
    Sidewalk(s)
    Appliances
    Free-Standing Range, Disposal, Dishwasher, Refrigerator, Microwave, Washer/Dryer, W/D Hookup
    Standard status
    Active
    APN
    132-45-130

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    LOT 2 10TH AND ASH PLACE CONDOMINIUM MCR 104144
    TaxAnnualAmount
    5729

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Energy Star Qualified Equipment (Heating), Heat Pump (Heating)
    Cooling system
    ENERGY STAR Qualified Equipment, Ceiling Fan(s), Heat Pump, Multi Units

    Building Details

    Year built
    1977
    Number of units
    4
    Building materials
    Painted, Block
    Roof type
    Foam

    We can help!

    Listing Contact
    Adam Prather
    Adam Prather

    Listing agent Adam Prather License #SA659490000

    Listing office eXp Realty 20551 N Pima Road Suite 200, Peoria, AZ

    Listing date Sep 23, 2025

    MLS# 6924208

    Copyright © 2026 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

    Remodeled Tempe Multi-Family Investment

    This multi-unit property features four remodeled patio homes on a single lot. Located in the Maple & Ash Historic District of Tempe, the property is situated approximately 1,200 feet from the Gammage Theater and a short walk to Arizona State University. The property consists of three units with two bedrooms and one bathroom each, and one unit with two bedrooms and two bathrooms. Each home includes updated appliances, in-unit washer and dryer, a covered patio, and a fenced yard. Carports with additional storage are provided, along with overflow parking in the back lot. The property is located near Mill Avenue, Tempe Town Lake, and local spots such as Casey Moore's Oyster House, with access to Scottsdale, the airport, and MLB spring training venues. The property is zoned [R-2] Multi-Fam.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Dental Office Restaurant Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.942011
    Latitude
    33.41874

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    FAQs

    What type of property is this?
    Quadplex - Four remodeled units near ASU in the Maple & Ash District.
    Where is this quadplex located?
    The property is located at 117 W 10TH Street Tempe, AZ.
    What is the asking price?
    The asking price for this property is $2,450,000.
    What are key features of this property?
    This property features: Four remodeled patio homes on one lot in a prime Tempe location near ASU.; Turnkey, multi‑unit property with three 2 bed/1 bath units and one 2 bed/2 bath unit.; Modern kitchens with updated appliances and in‑unit washer/dryers.
    (480) 298-3564
    We can help!
    Listing Contact
    Adam Prather
    Adam Prather
    Real Estate License ID: SA659490000
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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