421 W 5TH Street, Tempe, AZ 85281

• 3 beds |
• 1 bath |
• 1,000 sqft

Property Description

RARE opportunity to own a property just a few blocks away from Mill Ave! Located on one of the best streets - 5th St! Great R3 zoning! Large 8,300+ sf lot! New construction abounds! Urban infill at its best! - there is a new 50m+ upscale mid-rise project directly across the street that is just being completed! And less than 100 yards to the east is Farmer Ave, where hundreds of millions have been spent on a variety of commercial, multifamily, and mixed used developments, including the new Westin Vib hotel! Only a block to the Tempe Streetcar, which connects to the Light Rail, which is less than 2 min away! Walk to ASU, Mill Ave, Tempe Town Lake and more! This is a GREAT AREA!! R-3 ZONING, large/deep lot!! Perfect location for new condos/townhomes etc. Zoning should allow for 3 units but check with city as owner/agent makes no guarantees. Imagine the views from the 3rd floor rooftop balconies of the West 5 towers and the Tempe skyline, plus the mountain views!! Drive by only, do not disturb the tenants, Thx

Listing Status:

Active

Date Added:

May 18, 2026

Data Last Updated:

May 20, 2026 at 7:06AM

Listing Office:

Windermere Real Estate & Property Management : 602-319-5363

Listing Agent:

Bruce Swift : 480-766-6695

MLS ID:

7029919

Interior

• General: Eat-in KitchenNo Interior Steps
• Laundry: Wshr/Dry HookUp Only
• Flooring: Tile
• A/C: Central AirCeiling Fan(s)
• Heating: Natural Gas

Exterior

• General: None

Construction

• Roofing: Composition
• General: PaintedBlock

Location

• HOA Amenities: No Fees
• Originating MLS: Arizona Regional Multiple Listing Service 2
• School District: Tempe School District
• County: Maricopa

Lot

• Zoning: 12433006
• Fencing: BlockChain Link

Utilities

• Water: City Water
• Sewer: Public Sewer

Financial

• Source: Arizona Regional Multiple Listing Service 2