Renovated Tempe Multifamily Investment
1219 S FARMER AVE Tempe, AZ 85281
1219 S FARMER AVE, Tempe, AZ, 85281
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For Sale
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Multifamily property with recent renovations in Tempe, Arizona.
Property Size3,500 SF
Price / SF$405.71
Days on Market60
Property Features for 1219 S FARMER AVE
General Information
- Standard status
- Active
- Size
- 3,500 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1965
Listing Agency
Keller Williams Arizona Realty
Listed by
Rick Horst · License #SA640657000
Source
Crexi
Added: May 19 Checked: Jul 17 at 5:29 am
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 Keller Williams Arizona Realty
Investment Insights
Based on property information with market context.
This multifamily property in Tempe, Arizona, offers an investment opportunity with recent upgrades. Five of the seven units were fully renovated in 2022. The property features laundry equipment in four units, along with plumbing and electrical updates. New roofs have been installed. The property has a size of 3,500 square feet.
Key Highlights
- 5 of 7 Units Fully Renovated in 2022
- New Roofs
- Plumbing & Electrical Updates
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 | $91.6k | $26.16 |
| − Vacancy | −$5.3k | −$1.52 |
| EGI | $86.2k | $24.64 |
| − OpEx | −$38.8k | −$11.09 |
| NOI | $47.4k | $13.55 |
3,500 SF · lease $26.16/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$677.7K
$593.0K – $790.6K
NOI $47,437 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$963.0K – $1.28M
NOI $77,043 @ 7.0% cap · market cap 5.43%
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 - Multifamily property with recent renovations in Tempe, Arizona.
Where is this apartment building located?
The property is located at 1219 S FARMER AVE Tempe, AZ.
What is the asking price?
The asking price for this property is $1,420,000.
What are key features of this property?
This property features: 5 of 7 Units Fully Renovated in 2022; New Roofs; Plumbing & Electrical Updates
