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Bushnell Real Estate Solutions
508 S Farmer Avenue, Tempe, AZ 85281
- $1,400,000
- 8
- BD
- 8
- BA
Courtesy of HomeSmart. 480-443-7400 Selling Office: ABI Multifamily.
- Sold Price
- $1,400,000
- List Price
- $1,649,500
- Status
- CLOSED
- Closing Date
- May 28, 2026
- MLS#
- 6978065
- Subtype
- Multiple Dwellings
- Year Built
- 1960
- Bedrooms
- 8
- Bathrooms
- 8
- Subdivision
- Orth Sub
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.
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Additional Information
- Taxes
- $3,659
- Zoning
- R3
- Flooring
- Other
- Appliances
- Refrigerator, Free-Standing Gas Oven
- Heating
- Heat Pump
- Air Conditioning
- Heat Pump, Electric, Varies by Unit, Ceiling Fan(s)
- Exterior Construction
- Block, Painted
- Parking Features
- Detached Carport, Off Street
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