Multi-Family Land with Two
For Sale
$1,299,000
1229 E Spence Avenue, Tempe, AZ 85281
MULTI_FAMILY - Tempe, AZ
Property SizeContact for details
Days on Market285
Property Features for 1229 E Spence Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-4
Subdivision
STANLEY PLAT & KENNETH PLACE
Directions
South on Rural, East on Sp
Standard status
Active
APN
133-09-045
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1450
Building Details
Year built
1940
Number of units
2
Flooring type
Concrete
Building materials
Wood Frame, Painted
Roof type
Composition
Listing Agency:
Realty ONE Group
(623) 236-1414
Listed By:
Jason Miszuk · License #SA562932000
(602) 363-5058
Added: Nov 10, 2025
Changed: Aug 17
Last Checked: Aug 22 at 6:06PM
MLS# 6950797
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.
Investment Insights
Based on property information with market context.
This for-sale multi-family land offering is zoned R-4 (High Density) and includes two adjacent residential houses. The homes are positioned next to each other on the same site, supported by R-4 zoning for higher-density multi-family development. Parcel numbers included with the listing are 133-09-045 and 133-09-055. Buyer is advised to verify all facts, figures, schools, and measurements.
The property is located at 1229 E Spence Avenue in Tempe, Arizona 85281, with frontage on Spence Ave. As an infill-style site with existing residential improvements, it can be evaluated for redevelopment, reconfiguration, or continued residential use depending on buyer objectives and applicable requirements.
For buyers and investors, the combination of R-4 (High Density) zoning and adjacent residential structures creates flexibility in planning. This asset may appeal to parties looking to pursue a multi-family development path while accounting for the existing houses on-site. Interested stakeholders should perform their own due diligence on zoning particulars, development feasibility, and any impact from the current improvements before moving forward.
The property is located at 1229 E Spence Avenue in Tempe, Arizona 85281, with frontage on Spence Ave. As an infill-style site with existing residential improvements, it can be evaluated for redevelopment, reconfiguration, or continued residential use depending on buyer objectives and applicable requirements.
For buyers and investors, the combination of R-4 (High Density) zoning and adjacent residential structures creates flexibility in planning. This asset may appeal to parties looking to pursue a multi-family development path while accounting for the existing houses on-site. Interested stakeholders should perform their own due diligence on zoning particulars, development feasibility, and any impact from the current improvements before moving forward.
Key Highlights
- R‑4 (High Density) zoning for multifamily development
- Prime location in the heart of ASU campus area
- Includes two residential houses
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,559
Businesses Nearby
Explore this area
Business Placement
Demographics for 85281, AZ
69,218
Population
32,475
Households
2.1
Avg Household Size
26
Median Age
49%
College-Educated
91%
High-School Grad
13.3 sq mi
ZIP Area
5,204
Density / Sq Mi
$59,084
Median Household Income
$32,805
Median Earnings
$1,531
Median Rent
$364,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - R-4 high-density parcel with frontage on Spence Ave and two adjacent residential houses, offered for redevelopment or continued use.
Where is this multifamily property located?
The property is located at 1229 E Spence Avenue Tempe, AZ.
What is the asking price?
The asking price for this property is $1,299,000.
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
