Tempe Multifamily Investment
1209 1015 1225 S Ash Ave. Tempe, AZ 85281
1209 1015 1225 S Ash Ave., Tempe, AZ, 85281
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For Sale
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10-unit multifamily property near Arizona State University.
Property Size7,294 SF
Price / SF$315.33
Days on Market361
Property Features for 1209 1015 1225 S Ash Ave.
General Information
- Standard status
- Active
- Size
- 7,294 SF
- Property subtype
- Multifamily
Listing Agency
CBRE - Phoenix
(602) 435-3636
Listed by
Brian Tranetzki · License #BR581404000
Source
Crexi
Added: Jul 22, 2025 Checked: Jul 15 at 2:34 pm
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Phoenix
Investment Insights
Based on property information with market context.
This 10-unit multifamily property is located in the historic Maple Ash neighborhood of downtown Tempe, Arizona. The property includes one and two-bedroom floorplans and two standalone houses. It is located within walking distance of Arizona State University. The Maple-Ash Historic Neighborhood features tree-lined streets and preserved homes showcasing architectural styles ranging from Craftsman to Mission Revival. The community fosters a warm atmosphere, with neighbors gathering at local parks, farmers' markets, and seasonal events. Downtown Tempe is nearby, providing access to shopping, dining, and entertainment. This property represents an opportunity to acquire an unrenovated asset in Tempe’s historic district. There is potential for renovations or redevelopment, allowing the owner to maximize rental income through student or market-rate housing.
Key Highlights
- Prime location in the desirable, historic Maple‑Ash neighborhood of downtown Tempe.
- Walking distance to Arizona State University (ASU).
- Significant upside potential through renovations or redevelopment.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $190.8k | $26.16 |
| − Vacancy | −$11.1k | −$1.52 |
| EGI | $179.7k | $24.64 |
| − OpEx | −$80.9k | −$11.09 |
| NOI | $98.9k | $13.55 |
7,294 SF · lease $26.16/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.41M
$1.24M – $1.65M
NOI $98,859 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.29M
$2.01M – $2.68M
NOI $160,559 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 10-unit multifamily property near Arizona State University.
Where is this apartment building located?
The property is located at 1209 1015 1225 S Ash Ave. Tempe, AZ.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Prime location in the desirable, historic Maple‑Ash neighborhood of downtown Tempe.; Walking distance to Arizona State University (ASU).; Significant upside potential through renovations or redevelopment.
