$1,649,500

508 S FARMER Avenue, Tempe, AZ 85281

Multi-Family Home
Built in 1960
—— sqft lot
—— car garage
$——/sqft
Listed 1 month ago

Property Description

PRIME REDEVELOPMENT OPPORTUNITY IN DOWNTOWN TEMPE. SURROUNDED BY A COLLECTION OF HIGH-END COMMERCIAL/OFFICE DEVELOPMENTS, A BOUTIQUE HOTEL, AND TRENDY URBAN MULTI USE CONDOMINIUMS, THIS PROPERTY IS ONE OF THE LAST BEST INFILL LOCATIONS AVAILABLE FOR LONG TERM INVESTMENT GROWTH. THE 2 PARCELS ARE ALSO LOCATED IN TEMPE'S TRANSPORTATION OVERLAY DISTRICT, ALLOWING ADDITIONAL DEVELOPMENT OPTIONS NOT FOUND IN OTHER R3 ZONED CITY NEIGHBORHOODS. IN ADDITION, THE EXISTING 8 RENTAL UNITS ARE 100% OCCUPIED OFFERING IMMEDIATE CASH FLOW DURING THE PLANNING PROCESS.

Listing Status:: Active
Date Added:: February 1, 2026
Data Last Updated:: April 2, 2026 at 5:09AM
Listing Office:: HomeSmart : 480-443-7400
Listing Agent:: Ron Fedri : 602-369-7994
MLS ID:: 6978065

Flooring: Other
A/C: Ceiling Fan(s)ElectricHeat PumpIndividual
Heating: Heat Pump

Parking: Off StreetDetached CarportAdd'l Parking AvailParking spaces: 8

Roofing: Built-Up
General: PaintedBlock

Road/Access: ConcreteGravel
Originating MLS: Arizona Regional Multiple Listing Service 2
School District: Tempe Union High School District
County: Maricopa

Zoning: R312433002A

Water: City Franchise
Sewer: Sewer-In & ConnectedPublic Sewer

Source: Arizona Regional Multiple Listing Service 2

This listing courtesy of Ron Fedri , HomeSmart

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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Location

Schools Nearby

Scales Technology Academy

1115 W 5th St, Tempe, AZ, 85281

Grades KG-5

0.62 miles away

Gililland Middle School

1025 S Beck Ave, Tempe, AZ, 85281

Grades 6-8

0.81 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.