Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1229 E Spence Ave Tempe, AZ 85281

    For Sale
    $1,600,000

    MULTI_FAMILY - Tempe, AZ

    Days on Market:
    15
    Last Refresh:
    Dec 7 at 6:06 am

    Property Features for 1229 E Spence Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R-4
    APN
    133-09-045

    Building Details

    Year built
    1940
    Number of units
    2
    Flooring type
    Concrete
    Building materials
    Wood Frame, Painted
    Roof type
    Composition

    Realty ONE Group (888) 461-0101 [email protected]

    Listing agent Jason Miszuk (602) 363-5058

    Listing date Nov 23, 2025

    MLS# 6950797 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

    Tempe Multifamily Land and Homes

    This property presents a rare opportunity to acquire R-4 (High Density) zoned multi-family land and homes with frontage on Spence Ave in Tempe, Arizona, situated in the heart of the ASU campus area. The listing includes two residential houses, positioned next to each other, and zoned for high-density multifamily development. Located in a robust infill Arizona State location, this property is suitable for investors. The property is within walking distance of the ASU campus. The area has demographics including over 350,000 population count within a five-mile radius. Parcel numbers for the property are 133-09-045 and 133-09-055.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.918924
    Latitude
    33.412616

    Nearby Similar for Sale

    • New
      $2,595,000

      Remodeled Multi-Unit Property Near ASU

      Four remodeled patio homes in Tempe's historic district near ASU.
      117 W 10Th St, Tempe, AZ 85281
      View Details
    • $949,995

      Tempe Triplex Near ASU

      Well-maintained triplex near ASU with strong in-place cash flow.
      1234 S Farmer Ave, Tempe, AZ 85281
      View Details
    • $1,148,000

      Tempe Multifamily Property Near ASU

      Three detached units near ASU campus and downtown Tempe.
      1224 S Maple Ave, Tempe, AZ 85281
      View Details
    • $2,500,000

      Renovated Multifamily Property Near ASU

      Fully renovated 12-unit property near ASU and Mill Avenue.
      626 S Wilson St, Tempe, AZ 85281
      View Details
    • $699,500

      Tempe Multifamily with Guest House

      Multifamily property with a permitted guest house near ASU.
      538 W 13Th St, Tempe, AZ 85281
      View Details
    • $2,600,000
      9,558 SF

      Tempe Freestanding Industrial Building

      9,558 SF industrial building in a dynamic Tempe location.
      413 W Gemini Dr, Tempe, AZ 85283
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - R-4 zoned multifamily land and homes near ASU campus.
    Where is this residential land & home lot located?
    The property is located at 1229 E Spence Ave Tempe, AZ.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: - R-4 (High Density) zoning for multifamily development; - Prime location in the heart of ASU campus area; - Includes two residential houses
    (602) 363-5058
    Request Owner's contact information
    1229 E Spence Ave Tempe, AZ 85281
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1229 E Spence Ave
    Tempe, AZ 85281
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1229 E Spence Ave Tempe, AZ 85281
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.