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    1234 S Farmer Ave Tempe, AZ 85281

    For Sale
    $949,995

    MULTI_FAMILY - Tempe, AZ

    Days on Market:
    151
    Last Refresh:
    Dec 6 at 11:06 pm

    Property Features for 1234 S Farmer Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R3
    APN
    124-70-031-B
    Appliances
    Refrigerator, Free-Standing Electric Oven, Microwave, Washer/Dryer, W/D Hookup

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Central Air, Electric, Wall Unit(s), Wall/Window Unit(s), Ceiling Fan(s)

    Building Details

    Year built
    1950
    Number of units
    3
    Flooring type
    Tile - Ceramic, Concrete
    Building materials
    Painted, Block
    Roof type
    Composition

    Venture REI, LLC (480) 751-2259 [email protected]

    Listing agent Alan Kittelman (602) 820-8164

    Listing date Jul 9, 2025

    MLS# 6887472 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 Triplex Near ASU

    This well-maintained triplex, constructed in 1950, is located in downtown Tempe, near Arizona State University. Situated on the corner of 13th and Farmer, the property includes two 2-bedroom, 1-bathroom units, each approximately 900 square feet, and one studio apartment of approximately 600 square feet. All three units are leased through July 2026, providing consistent cash flow. The property features newer A/C units and a roof that is less than 10 years old. The property has been under long-term ownership since 1996. Each unit has private access, with one of the units featuring its own separate entrance. The location offers walkability to the campus, Mill Avenue, and Tempe Town Lake.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Realty agency Law Firm Spa & Massage Dental Office Restaurant Hair Salon Nail Salon Building Supply Clothing Store 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
    -111.944581
    Latitude
    33.41494

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    FAQs

    What type of property is this?
    Triplex - Well-maintained triplex near ASU with strong in-place cash flow.
    Where is this triplex located?
    The property is located at 1234 S Farmer Ave Tempe, AZ.
    What is the asking price?
    The asking price for this property is $949,995.
    What are key features of this property?
    This property features: - Prime location in downtown Tempe, near ASU, Mill Ave, and Tempe Town Lake.; - Strong in-place cash flow with all units leased through July 2026.; - Triplex featuring two 2BR/1BA units and one studio.
    (602) 820-8164
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    Tempe, AZ 85281
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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
    1234 S Farmer Ave Tempe, AZ 85281
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