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    Garden-Style 10-Plex Apartments Title is generated by Realmo AI

    425-427 West 5th Street, Tempe, AZ 85281

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    For Sale
    $1,700,000

    Garden-style 10-plex with studio to 1-2 bedroom units, offering an operator the chance to reposition a low-maintenance asset.

    Type:Multiple Dwellings
    Added:
    Jun 1, 2026
    Days on Market:
    8
    Last Refresh:
    Jun 6 at 4:26 am

    Property Features for 425-427 West 5th Street

    General Information

    Standard status
    Active
    Property subtype
    Multiple Dwellings

    Building Details

    Year Built
    1957

    We can help!

    Listing Contact
    Patrick Teske

    Listing agent Patrick Teske License #BR505976000

    Listing office Tierra Antigua Realty, LLC

    Listing date Jun 1, 2026

    Source Compass

    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 Tierra Antigua Realty, LLC

    HighLights

    • Garden‑style 10‑plex in Tempe’s Orth Subdivision with 10 total units in 3 buildings
    • Unit mix: 8 studios (~388 SF), 1/1‑bed (~550 SF), and 1/2‑bed (~750 SF)
    • Block construction with roofs including composition and built‑up roofing; buildings constructed in 1957 and 1963
    • Central air plus window/wall cooling options; heating includes zoned, individual, central, and natural gas
    • Owner‑occupied pride of ownership noted; current ownership approximately 40 years

    Overview

    This garden-style 10-plex in Tempe features eight studios averaging approximately 388 square feet, along with 1-bedroom units averaging approximately 550 square feet and 1/2-bedroom units averaging approximately 750 square feet. The property is of block construction, with building years noted as 1957 and 1963, and it is presented as an ownership-ready multifamily asset with pride of ownership referenced by the current management.

    The property is located at 425-427 West 5th Street, Tempe, AZ 85281, with an additional address noted as 511 S. Wilson St. The public remarks indicate it is a short distance to the ASU Main Campus and near major access routes including the 202 Freeway, as well as Sky Harbor Airport and a variety of restaurants and attractions.

    From a tenant and operator standpoint, the unit mix supports a range of household needs, from smaller studio layouts to larger 1/2-bedroom configurations. With the block-built, garden-style design and multiple unit sizes already in place, this property may appeal to buyers and investors seeking a straightforward residential income asset and a practical repositioning opportunity based on the configuration described in the offering materials.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Dental Office Restaurant Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.945571
    Latitude
    33.425243

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    FAQs

    What type of property is this?
    Apartment building - Garden-style 10-plex with studio to 1-2 bedroom units, offering an operator the chance to reposition a low-maintenance asset.
    Where is this apartment building located?
    The property is located at 425-427 West 5th Street Tempe, AZ.
    What is the asking price?
    The asking price for this property is $1,700,000.
    What are key features of this property?
    This property features: Garden‑style 10‑plex in Tempe’s Orth Subdivision with 10 total units in 3 buildings; Unit mix: 8 studios (~388 SF), 1/1‑bed (~550 SF), and 1/2‑bed (~750 SF); Block construction with roofs including composition and built‑up roofing; buildings constructed in 1957 and 1963
    (520) 336-2456
    We can help!
    Listing Contact
    Patrick Teske
    Real Estate License ID: BR505976000
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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