Garden-Style 10-Plex Near
For Sale
Contact for pricing
427 W 5th St, Tempe, AZ 85281
Tempe 10-unit multifamily property, reposition opportunity, near ASU campus.
Property Size4,414 SF
Price / SF$385.14
Days on Market218
Property Features for 427 W 5th St
General Information
Standard status
Active
Size
4,414 SF
Class
C
Property subtype
Multifamily
Investment Type
Value Add
Building Details
Year Built
1957
Buildings
3
Stories
1
Units
10
Listing Agency:
Tierra Antigua Realty Foothills
Listed By:
Patrick Teske · License #AZ BR505976000
(520) 336-2456
Source:
Crexi
Added: Mar 2
Changed: Sep 30
Last Checked: Oct 5 at 7:29PM
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 Foothills
Investment Insights
Based on property information with market context.
This garden-style 10-plex is located in Tempe's Orth Subdivision. The property consists of three buildings constructed with block in 1957 and 1963. It features good parking and is situated a short distance from the ASU Main Campus, near the 202 Freeway, Sky Harbor Airport, and various restaurants and attractions. The property comprises eight studio apartments of approximately 388 square feet each, one 1-bedroom apartment of approximately 550 square feet, and one 2-bedroom apartment of approximately 750 square feet. The total property size is 4414 square feet. This property presents a reposition opportunity.
Key Highlights
- Garden‑style 10‑plex in Tempe's Orth Subdivision.
- Close proximity to ASU Main Campus.
- Convenient access to the 202 Freeway and Sky Harbor Airport.
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.
Property Analytics
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Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Tempe 10-unit multifamily property, reposition opportunity, near ASU campus.
Where is this apartment building located?
The property is located at 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: Garden‑style 10‑plex in Tempe's Orth Subdivision.; Close proximity to ASU Main Campus.; Convenient access to the 202 Freeway and Sky Harbor Airport.
