Updated Triplex with New
For Sale
$650,000
509 W 2nd Street, Tempe, AZ 85281
R3-zoned multifamily property near light rail, Tempe Town Lake, Arizona State University, and Mill Avenue amenities.
Property SizeContact for details
Days on Market10
Property Features for 509 W 2nd Street
General Information
Standard status
Active
Property subtype
Multi Family Home
Zoning
R3
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,468
Building Details
Year Built
1955
Buildings
1
Units
3
Listing Agency:
Congress Realty, Inc.
(888) 881-4118
Listed By:
Jared A English · License #0561973
(888) 881-4118
Source:
Aznewhorizonrealty
Added: Aug 13
Changed: Aug 21
Last Checked: Aug 21 at 2:11PM
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 Congress Realty, Inc.
Investment Insights
Based on property information with market context.
Built in 1955, this R3-zoned triplex offers three residential units in a well-maintained, low-maintenance building. Recent capital improvements include a new roof completed in 2024, along with two new A/C units and three tankless smart water heaters installed in 2026.
The property is positioned near Valley Metro Light Rail, Tempe Town Lake, the Tempe Streetcar, and Arizona State University. Mill Avenue’s dining, retail, and entertainment options are also nearby. The three-unit configuration supports both traditional rental ownership and an owner-occupant arrangement with additional units available for rental income.
The property is positioned near Valley Metro Light Rail, Tempe Town Lake, the Tempe Streetcar, and Arizona State University. Mill Avenue’s dining, retail, and entertainment options are also nearby. The three-unit configuration supports both traditional rental ownership and an owner-occupant arrangement with additional units available for rental income.
Key Highlights
- Three‑unit multifamily property built in 1955
- R3 zoning supports the triplex configuration
- New roof completed in 2024
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,239
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - R3-zoned multifamily property near light rail, Tempe Town Lake, Arizona State University, and Mill Avenue amenities.
Where is this triplex located?
The property is located at 509 W 2nd Street Tempe, AZ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three‑unit multifamily property built in 1955; R3 zoning supports the triplex configuration; New roof completed in 2024
