Zoned Residential Development
For Sale
$299,000
1061 West 5th Street Unit 3, Tempe, AZ 85281
Residential lots with an easement on 5th St and development limits of 5,000-sf footprint and 30-ft height.
Property Size10,447 SF
Price / SF$28.62
Days on Market507
Property Features for 1061 West 5th Street Unit 3
General Information
Standard status
Active
Size
10,447 SF
Property subtype
Land
Zoning
R-3
Taxes and HOA fees
Annual Taxes
$333
Amenities
0.0
Block
No
4
Listing Agency:
Kate Rose Realty
(602) 722-7673
Listed By:
Kate Rose · License #BR032255000
(602) 722-7673
Source:
Compass
Added: Apr 5, 2025
Changed: Aug 8
Last Checked: Mar 25 at 5:45PM
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 Kate Rose Realty
Investment Insights
Based on property information with market context.
This offering includes four residential lots totaling approximately 0.24 acres, identified under APNs 124-36-188, 124-36-189, 124-36-191, and the fourth APN referenced in the seller’s materials. Seller states an easement from 5th St is in place, and the intended building footprint must not exceed 5,000 square feet, with a maximum height of 30 feet, subject to City review.
The seller reports the property is currently zoned R3 for up to three dwellings, with the possibility to seek a change to R4 for up to four dwellings. According to the information provided, the Master Community Development plans already show the area as R4, and a preliminary review and rezoning application may be available through the City’s process. The seller also notes that garages incorporated into the footprint square footage may impact the ability to pursue four units, based on parking ratio considerations.
For planning and approvals, prospective buyers are directed to verify all information with the City of Tempe Planning before submitting an offer, including any details related to unit count and development requirements.
The seller reports the property is currently zoned R3 for up to three dwellings, with the possibility to seek a change to R4 for up to four dwellings. According to the information provided, the Master Community Development plans already show the area as R4, and a preliminary review and rezoning application may be available through the City’s process. The seller also notes that garages incorporated into the footprint square footage may impact the ability to pursue four units, based on parking ratio considerations.
For planning and approvals, prospective buyers are directed to verify all information with the City of Tempe Planning before submitting an offer, including any details related to unit count and development requirements.
Key Highlights
- 4 residential lots total 0.24 AC, with an easement from 5th St.
- APN includes 124‑36‑188, 124‑36‑189, 124‑36‑191 plus one additional lot in the set.
- Development limits: building footprint cannot exceed 5,000 SF and max height is 30 ft.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,167
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Residential lots with an easement on 5th St and development limits of 5,000-sf footprint and 30-ft height.
Where is this residential land & home lot located?
The property is located at 1061 West 5th Street Unit 3 Tempe, AZ.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 4 residential lots total 0.24 AC, with an easement from 5th St.; APN includes 124‑36‑188, 124‑36‑189, 124‑36‑191 plus one additional lot in the set.; Development limits: building footprint cannot exceed 5,000 SF and max height is 30 ft.
