Tempe, AZ Multifamily Properties for Sale

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Updated: Jun 22, 2024

Renovated Quadplex Investment

1321 W 5th St, Tempe, AZ 85281

$950,000

2,760 sqft

4‑unit quadplex with a 2,760 SF building, built in 1970
Renovated in 2023
Fully occupied with 100% occupancy reported
R‑3R zoning provides versatile use for the property
2,760 SF multi‑family building designed as a 4‑unit structure

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Here's a quick look at some key insights for

1321 W 5th St, Tempe, AZ 85281

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Est. Cap Rate

4.3%
NOI ÷ price
Est. NOI

$41K
Annual
Mortgage

$266K
May 2017
Last Sold

Sep 2025
$827K
Property Type

Quadplex
Built 1970

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Updated: Feb 18

Tempe Garden-Style Apartment Complex

425,427 W 5th Street, Tempe, AZ 85281

$1,700,000

4,414 sqft 0.39 AC lot

10‑plex garden‑style multifamily property in Tempe’s Orth Subdivision
Unit mix includes 8 studios (~388 SF), 1/1 (~550 SF), and 1/2‑bed (~750 SF)
Block construction with years built noted as 1957 and 1963
Central A/C and electric forced‑air heating
Public water source

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Multifamily Property with Detached ADU

111 E BONITA Way, Tempe, AZ 85281

$850,000

Renovated four-bedroom main residence with a detached accessory dwelling unit under construction.

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Remodeled Duplex with Carports

625 W 12th Street, Tempe, AZ 85281

$675,000

Two refreshed rental units offer individual storage, appliances, and convenient access to ASU, shopping, dining, and transportation.

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Five-Unit Apartment Building

2214 South Granada Drive, Tempe, AZ 85282

$1,500,000

3,250 sqft

Individually metered apartments offer private patios and washer-dryer setups in every residence.

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Duplex With R-4 Zoning

1433 S JENTILLY Lane, Tempe, AZ 85281

$625,000

Leased month to month, the property requires renovation and is offered in its existing condition.

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Updated Duplex with Private Patios

421 S TERRY Lane, Tempe, AZ 85281

$769,999

Two-unit residential property with refreshed interiors, separate outdoor areas, and furnished kitchen and laundry appliances.

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Four-Unit Studio Quadplex

1033 S Mariana Street, Tempe, AZ 85281

$750,000

Each residence includes wall-mounted cooling, a range, and a refrigerator, with off-street parking available.

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Four-Unit Multifamily Property

115 W 10th St, Tempe, AZ 85281

$2,450,000

3,760 sqft 0.35 AC lot

R-2 property with updated interiors, private outdoor areas, and covered parking near Arizona State University.

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Furnished Triplex With Attached Garage

515 W PEBBLE BEACH Drive, Tempe, AZ 85282

$899,000

Three separate residences include a four-bedroom home and two matching two-bedroom units with individually metered utilities.

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Remodeled Duplex with Updated Kitchens

1610 S COLLEGE Avenue, Tempe, AZ 85281

$700,000

Both residences are occupied and share a laundry room equipped with a washer and dryer.

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Quadplex with Attached Retail Space

2423 E Apache Blvd, Tempe, AZ 85281

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7,750 sqft 1.00 AC lot

Fourplex and attached retail space on an acre lot, with the retail currently operating as a flower shop.

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High-Density Multifamily Property

1229 E Spence Avenue, Tempe, AZ 85281

$1,299,000

Two existing houses on an R-4-zoned parcel with frontage along Spence Avenue near Arizona State University.

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Garden-Style 10-Plex Apartment Building

425,427 W 5th Street, Tempe, AZ 85281

$1,700,000

4,414 sqft

Garden-style 10-plex with studio, one- and two-bedroom units, block construction from 1957 and 1963.

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Garden-Style 10-Plex Near ASU

427 W 5th St, Tempe, AZ 85281

Contact for pricing

4,414 sqft

Tempe 10-unit multifamily property, reposition opportunity, near ASU campus.

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Seven-Unit Multifamily Condo Portfolio

616 S Hardy Dr Unit 112, Tempe, AZ 85281

$1,299,900

Bulk condominium sale featuring six occupied units and one vacant unit available for floor-plan review.

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Remodeled Duplex with Shared Laundry

1610 South College Avenue, Tempe, AZ 85281

$850,000

Both residences are occupied, with one month-to-month tenancy and the other lease ending in May.

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Remodeled Quadplex

105 South Hardy Drive, Tempe, AZ 85281

$699,000

1,927 sqft

Updated interiors, dedicated parking, and a walkable Tempe setting support residential rental use.

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Short-Term Rental Property with Balcony

1111 W UNIVERSITY Drive 2012, Tempe, AZ 85281

$300,000

Furnished residence with in-unit laundry and access to a pool, spa, gym, and gated underground parking.

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Tenant-Occupied Income Property

200 E SOUTHERN Avenue 224, Tempe, AZ 85282

$249,900

Tenant-occupied condo with split-bedroom layout, inside laundry, and a private shaded balcony.

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Four-Unit Apartment Property with New Roof

1145 W SOUTHERN Avenue, Tempe, AZ 85282

$930,000

Four month-to-month residential leases offer flexible management within an extensively updated apartment property.

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Four-Unit Multifamily Property

1253 West Southern Avenue, Tempe, AZ 85282

$975,000

Fully leased residential income asset with R-3R zoning and central heating and cooling.

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Occupied Multifamily Property

401 West 5th Street, Tempe, AZ 85281

$895,000

R3-zoned property positioned within Tempe’s transportation overlay district near light rail and streetcar connections.

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5-Unit Apartment Building

1231 N OLEANDER Street, Tempe, AZ 85288

$1,200,000

Renovated multifamily property with updated interiors, private gated patios, and a mix of one- and two-bedroom residences.

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Tempe, AZ Multifamily Properties Market Trends and Statistics

Explore 56 multifamily properties for sale in Tempe, AZ, showcased through 38 active listings on our real estate platform. These investment opportunities span a total of 32,689 square feet of properties for sale, with an estimated market value of $26,396,799.

Sale prices for multifamily properties in Tempe, AZ start at $249,900, averaging $1,055,871, and reaching up to $2,450,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 192K

Population Growth (5Y) +0.9%

Median Household Income $79,956

College Educated 32.7%

High-Yield Neighborhoods for Investment

Identify Tempe submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
85282	$574.5K
85281	$1.4M

Taxes & Financing

Tax Rate (average for all types) 5.89%

Property Tax per SF $77.06 per SF

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Maricopa County

New Delisted

Total CRE Inventory on Market (SF)

Property Size Breakdown

The majority of commercial real estate listings in Tempe fall within the 100,000+ square foot range.

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