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    The Largest CRE Database in the US with Over 1 Million Listings

    626 S Wilson St Tempe, AZ 85281

    View on Map
    Sponsored
    For Sale
    Under Contract
    $2,400,000

    MULTI_FAMILY - Tempe, AZ

    Days on Market:
    8
    Last Refresh:
    Mar 10 at 4:06 am

    Property Features for 626 S Wilson St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active Under Contract
    Zoning
    R-3
    APN
    124-33-066-B
    Appliances
    Built-In Range

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating)
    Cooling system
    Heat Pump, Central Air

    Building Details

    Year built
    1960
    Number of units
    12
    Flooring type
    Concrete, Vinyl
    Building materials
    Brick Veneer, Painted, Block
    Roof type
    Concrete, Foam

    We can help!

    Listing Contact
    David Arustamian
    David Arustamian

    Russ Lyon Sotheby's International Realty (480) 287-5200

    Listing agent David Arustamian (480) 750-7424

    Listing date Mar 2, 2026

    MLS# 6901363 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Renovated Multifamily Property Near ASU

    Venture on Wilson is a fully renovated, 12-unit garden-style community ideally located in the heart of Tempe, just blocks from Mill Avenue, Tempe Beach Park, and the ASU campus. Constructed in 1960 and extensively updated in 2019, the property blends architecture with upgrades. The community features a unit mix of ten one-bedroom and two two-bedroom residences, each individually metered for electricity and equipped with in-unit washers and dryers. A central courtyard offers residents a private, shaded gathering space, while mature palm trees and native landscaping enhance the appeal. Positioned one block from the newly developed Whole Foods Market and walkable to restaurants, nightlife, and the light rail, Venture on Wilson offers lifestyle convenience and long-term investment potential. The property is zoned R-3 and located in Maricopa County, Arizona.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Venture on Wilson Apartment Complex

    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
    -111.946118
    Latitude
    33.423318

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    FAQs

    What type of property is this?
    Apartment building - Fully renovated 12-unit multifamily property near ASU in Tempe.
    Where is this apartment building located?
    The property is located at 626 S Wilson St Tempe, AZ.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: - Prime Tempe location: Blocks from Mill Avenue, Tempe Beach Park, and ASU campus.; - Fully renovated in 2019 with modern upgrades.; - In-unit washers and dryers in all units.
    (480) 209-2615
    Request Owner's contact information
    626 S Wilson St Tempe, AZ 85281
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    Tempe, AZ 85281
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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
    626 S Wilson St Tempe, AZ 85281
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    We can help!
    Listing Contact
    David Arustamian
    David Arustamian
    Real Estate License ID: BR662152000
    (480) 209-2615 (480) 287-5200 (781) 929-7070
    Learn more
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