1214 South Farmer Avenue, Tempe, AZ, 85281

Description

1214 S Farmer Avenue is a fully occupied seven-unit multifamily property located in the highly desirable Tempe submarket. Originally constructed in 1947/1958, the property features a workforce housing unit mix consisting of six one-bedroom/one-bath units and one studio unit. Zoned R-3, the asset offers investors stable in-place occupancy with long-term upside potential in one of Metro Phoenix's most supply-constrained rental markets.

Situated just minutes from Arizona State University, Downtown Tempe, Tempe Town Lake, and major employment centers throughout the Southeast Valley, the property benefits from strong rental demand driven by a diverse population of students, professionals, and long-term residents. The location also offers convenient access to Loop 202, Loop 101, Interstate 10, and Phoenix Sky Harbor International Airport, providing exceptional connectivity throughout the region. Offered at $1,490,000 ($213,000/unit), the property presents an opportunity to acquire a stabilized multifamily asset in one of
Arizona's most established and economically vibrant submarkets.

Tempe is one of Metro Phoenix's most dynamic and sought-after commercial submarkets, driven by its central location, strong employment base, and continued population growth. Anchored by Arizona State University, the city benefits from a highly educated workforce, a diverse business environment, and a steady influx of students, professionals, and visitors. Major employers in technology, healthcare, education, and professional services contribute to a robust local economy and sustained demand for commercial real estate.

The submarket offers exceptional regional connectivity through Interstate 10, Loop 101, Loop 202, and US-60, providing convenient access to Downtown Phoenix, Scottsdale, Chandler, Mesa, and Phoenix Sky Harbor International Airport. Combined with strong demographics, limited infill development opportunities, and ongoing investment throughout the city, Tempe remains one of the Valley's premier locations for owner-users, investors, and businesses seeking long-term growth and stability.