High-Density Multifamily
For Sale
$1,299,000
1229 E Spence Avenue, Tempe, AZ 85281
Multiple Dwellings, Tempe, AZ
Property SizeContact for details
Days on Market295
Property Features for 1229 E Spence Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-4
Subdivision
STANLEY PLAT & KENNETH PLACE
Directions
South on Rural, East on Sp
Standard status
Active
APN
133-09-045
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1450
Building Details
Year built
1940
Number of units
2
Flooring type
Concrete
Building materials
Wood Frame, Painted
Roof type
Composition
Listing Agency:
Realty ONE Group
(623) 236-1414
Listed By:
Jason Miszuk · License #SA562932000
(602) 363-5058
Added: Nov 10, 2025
Changed: Aug 28
Last Checked: Sep 1 at 3:06AM
MLS# 6950797
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.
Investment Insights
Based on property information with market context.
This multifamily property includes two residential houses situated on adjoining parcels. The land is designated R-4, a high-density multifamily zoning classification, and the property has frontage along E Spence Avenue. Both structures date to 1940 and feature wood-frame construction with painted exteriors, concrete flooring, and composition roofs.
The property is in Tempe near the Arizona State University campus. The listing comprises parcel numbers 133-09-045 and 133-09-055, combining existing residential improvements with land carrying high-density multifamily zoning.
The property is in Tempe near the Arizona State University campus. The listing comprises parcel numbers 133-09-045 and 133-09-055, combining existing residential improvements with land carrying high-density multifamily zoning.
Key Highlights
- R‑4 high‑density multifamily zoning
- Two residential houses on adjoining parcels
- Frontage along E Spence Avenue
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,559
Businesses Nearby
Explore this area
Business Placement
Demographics for 85281, AZ
69,218
Population
32,475
Households
2.1
Avg Household Size
26
Median Age
49%
College-Educated
91%
High-School Grad
13.3 sq mi
ZIP Area
5,204
Density / Sq Mi
$59,084
Median Household Income
$32,805
Median Earnings
$1,531
Median Rent
$364,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Two existing houses on an R-4-zoned parcel with frontage along Spence Avenue near Arizona State University.
Where is this multifamily property located?
The property is located at 1229 E Spence Avenue Tempe, AZ.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: R‑4 high‑density multifamily zoning; Two residential houses on adjoining parcels; Frontage along E Spence Avenue
