10-Unit Garden-Style Apartment
For Sale
$1,700,000
Pending
425 427 W 5th St, Tempe, AZ 85281
Tempe multifamily property with a defined studio, one-bedroom, and two-bedroom unit mix near ASU Main Campus.
Property Size4,414 SF
Days on Market289
Property Features for 425 427 W 5th St
General Information
Standard status
Pending
Size
4,414 SF
Property subtype
Commercial
Site & Location
Neighborhood
Riverside
Highway Access
Yes
Units
Unit Mix
8 x studio, 1 x 1BR, 1 x 2BR
Multifamily Units
10
Building Details
Year Built
1957
Construction
garden-style
Listing Agency:
Tierra Antigua Realty
Listed By:
Mark Hays · License #AZ BR556215000
(520) 444-5401
Source:
Seetucsonhouses
Added: Jan 18
Changed: Nov 1
Last Checked: Nov 1 at 5:39AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This garden-style multifamily property contains 10 units in block construction, with a reported total property size of 4,414 square feet. The unit mix includes eight studio apartments of approximately 388 square feet, one one-bedroom apartment of approximately 550 square feet, and one two-bedroom apartment of approximately 750 square feet.
The property is located at 425 and 427 W 5th St in Tempe’s Orth Subdivision, within a short walk of the ASU Main Campus. The surrounding area also provides proximity to the 202 Freeway, Sky Harbor Airport, restaurants, and attractions. The building dates to 1957, with additional block construction identified from 1963.
The property is located at 425 and 427 W 5th St in Tempe’s Orth Subdivision, within a short walk of the ASU Main Campus. The surrounding area also provides proximity to the 202 Freeway, Sky Harbor Airport, restaurants, and attractions. The building dates to 1957, with additional block construction identified from 1963.
Key Highlights
- 10‑unit garden‑style multifamily property
- Unit mix includes 8 studios, 1 one‑bedroom, and 1 two‑bedroom
- Reported property size of 4,414 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,825
Cap Rate
3.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,196,500
$1.2M
Cap Rate 7%
$854,643
$854.6K
Cap Rate 9%
$664,722
$664.7K
Market Conditions
NOI Build-Up for 4,414 SF
Gross rent
$115.5K $26.16/SF
− Vacancy
−$6.7K −$1.52/SF
EGI
$108.8K $24.64/SF
− OpEx
−$48.9K −$11.09/SF
NOI
$59.8K $13.55/SF
Area
Tempe, AZ
Vacancy
5.80%
Lease Rate
$26.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,196,500
Cap Rate 7%
$854,643
Cap Rate 9%
$664,722
Alternative Uses
Best Use
Apartment 5plus
$854.6K
$747.8K – $997.1K
NOI $59,825 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $97,163 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
10
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,334
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
Frequently Asked Questions
What type of property is this?
Apartment building - Tempe multifamily property with a defined studio, one-bedroom, and two-bedroom unit mix near ASU Main Campus.
Where is this apartment building located?
The property is located at 425 427 W 5th St 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: 10‑unit garden‑style multifamily property; Unit mix includes 8 studios, 1 one‑bedroom, and 1 two‑bedroom; Reported property size of 4,414 square feet
