Renovated Quadplex
For Sale
$950,000
1321 W 5th St, Tempe, AZ 85281
Four-unit quadplex built in 1970 and renovated in 2023, fully occupied and zoned R-3R for flexible use.
Property Size2,760 SF
Price / SF$344.20
Days on Market861
Property Features for 1321 W 5th St
General Information
Standard status
Active
Size
2,760 SF
Zoning
R-3R
Occupancy
100%
Site & Location
Neighborhood
Sunset
Additional Details
Multifamily Units
4
Building Details
Year Built
1970
Year Renovated
2023
Tenancy
Multi
Listed By:
Beth Mickley · License #SA656584000
(480) 420-4345
Source:
Expcommercial
Added: Jun 22, 2024
Changed: Oct 25
Last Checked: Oct 28 at 4:38AM
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 Beth Mickley
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Investment Insights
Based on property information with market context.
This four-unit quadplex totals 2,760 square feet and was built in 1970. The property was renovated in 2023 and is currently fully occupied, providing a turnkey setup for an income-oriented purchase.
Zoned R-3R, the asset is positioned for versatile use within its existing zoning parameters. Offered for sale as a complete, operational multifamily investment, it features a classic building configuration updated by the 2023 renovations.
Zoned R-3R, the asset is positioned for versatile use within its existing zoning parameters. Offered for sale as a complete, operational multifamily investment, it features a classic building configuration updated by the 2023 renovations.
Key Highlights
- 4‑unit quadplex with a 2,760 SF building, built in 1970
- Renovated in 2023
- Fully occupied with 100% occupancy reported
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,660
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$813,200
$813.2K
Cap Rate 7%
$580,857
$580.9K
Cap Rate 9%
$451,778
$451.8K
Market Conditions
NOI Build-Up for 2,760 SF
Gross rent
$61.3K $22.20/SF
− Vacancy
−$3.2K −$1.15/SF
EGI
$58.1K $21.05/SF
− OpEx
−$17.4K −$6.31/SF
NOI
$40.7K $14.73/SF
Area
Tempe, AZ
Vacancy
5.20%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$813,200
Cap Rate 7%
$580,857
Cap Rate 9%
$451,778
Alternative Uses
Best Use
Multifamily LT 5
$580.9K
$508.3K – $677.7K
NOI $40,660 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$534.4K
$467.6K – $623.5K
NOI $37,408 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$867.9K
$759.4K – $1.01M
NOI $60,754 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,190
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit quadplex built in 1970 and renovated in 2023, fully occupied and zoned R-3R for flexible use.
Where is this quadplex located?
The property is located at 1321 W 5th St Tempe, AZ.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 4‑unit quadplex with a 2,760 SF building, built in 1970; Renovated in 2023; Fully occupied with 100% occupancy reported
