Marco LoPesio
Realty ONE Group
(612) 662-3777
7 Total Sales
1 in Mitchell Park East
$495,000 Price
1218 S Farmer Ave Tempe, AZ 85281
Mitchell Park East Neighborhood
--
Bed
--
Bath
888
Sq Ft
1960
Built
Highlights
- Community Playground
- Outdoor Storage
- Ceiling Fan
- Community Barbecue Grill
- Central Air
- Fenced
About This Home
As of July 2026Exceptional investment opportunity in this well-maintained 9-unit multifamily property! Conveniently located in a desirable, high-demand rental area of Tempe, ASU. This 9-plex features 8-1bedroom units and 1- studio with strong rental history and low vacancy. Each unit offers functional layouts, and 15 dedicated parking. All units have been tastefully updated attracting quality long-term tenants. The property sits on a generous lot with potential for future development (buyer to verify). On-site laundry, separate utility meters, This is a turnkey addition to any investor's portfolio. Easy access to transit, ASU, shopping, and major employment centers. Whether you're a seasoned investor or entering the multifamily market, this is a rare chance to acquire a stable, cash-flowing asset.
Last Agent to Sell the Property
Civic Center Real Estate License #BR641764000 Listed on: 09/15/2025
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Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,668
Year Built
- Built in 1960
Lot Details
- Fenced
- Additional Parcels
Home Design
- Wood Frame Construction
- Composition Roof
- Block Exterior
Interior Spaces
- Ceiling Fan
- Blinds
- Security Lights
Parking
- 6 Open Parking Spaces
- 16 Parking Spaces
- Carport
- Parking Available
- Additional Parking
Outdoor Features
- Outdoor Storage
Schools
- Holdeman Elementary School
- Geneva Epps Mosley Middle School
- Tempe High School
Utilities
- Central Air
- Heat Pump System
- Cable TV Available
Listing and Financial Details
- Tenant pays for electricity, gas
- The owner pays for water, sewer, trash collection
- Tax Lot 4
- Assessor Parcel Number 124-70-026
Community Details
Overview
- 3 Buildings
- 9 Units
- Building Dimensions are 9523
- State College Homes Lots 41 48 Subdivision
Amenities
- Community Barbecue Grill
Recreation
- Community Playground
Building Details
- Operating Expense $17,601
- Gross Income $119,700
- Net Operating Income $108,667
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Sep 15, 2025
Closed on
Jun 24, 2026
Sold by
Bought by
Seller's Agent
Chris Bianco
Civic Center Real Estate
Buyer's Agent
Chris Bianco
Civic Center Real Estate
List Price
$167,500
Sold Price
$1,610,000
Premium/Discount to List
$1,442,500
861.19%
Views
106
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-99.20%
Purchase Details
Listed on
Nov 23, 2019
Closed on
Dec 16, 2019
Sold by
Bought by
Seller's Agent
Sophia Willets
Grace CRE
Buyer's Agent
Chris Bianco
Civic Center Real Estate
List Price
$1,485,000
Sold Price
$1,400,000
Premium/Discount to List
-$85,000
-5.72%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.16%
Purchase Details
Closed on
Apr 16, 2019
Sold by
Bought by
Purchase Details
Listed on
Jul 28, 2015
Closed on
Oct 16, 2015
Sold by
Bought by
Seller's Agent
Eric Hegarty
Levrose Real Estate
Buyer's Agent
Non-MLS Agent
Non-MLS Office
List Price
$775,000
Sold Price
$748,000
Premium/Discount to List
-$27,000
-3.48%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.59%
Original Mortgage
$527,100
Interest Rate
3.85%
Mortgage Type
Commercial
Purchase Details
Closed on
Mar 22, 2004
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Mitchell Park East, AZ
-
Marco LoPesio
-
Hilary Sutter
Hilary Sutter
My Home Group Real Estate
(855) 519-0131
170 Total Sales
5 in Mitchell Park East
$401K - $790K Price Range
-
Douglas Royse
Douglas Royse
Keller Williams Realty Phoenix
(844) 721-6968
55 Total Sales
3 in Mitchell Park East
$440K - $465K Price Range
-
Ben Arredondo
Ben Arredondo
My Home Group Real Estate
(877) 764-1466
424 Total Sales
2 in Mitchell Park East
$675,000 Price Range
-
Lexi Duerst
Lexi Duerst
Compass
(623) 263-9459
70 Total Sales
2 in Mitchell Park East
$675,000 Price Range
-
Briette Hannappel
Briette Hannappel
Compass
(833) 621-0275
65 Total Sales
2 in Mitchell Park East
$675,000 Price Range
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $1,580,000 | Great American Title Agency | |
| Warranty Deed | $1,400,000 | Great American Title Agency | |
| Warranty Deed | $1,200,000 | Chicago Title Agency Inc | |
| Special Warranty Deed | $748,000 | North American Title Company | |
| Interfamily Deed Transfer | -- | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $527,100 | Commercial |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 07/03/2026 07/03/26 | Sold | $1,610,000 | +861.2% | $1,813 / Sq Ft | |
| 06/01/2026 06/01/26 | Pending | -- | -- | -- | |
| 09/15/2025 09/15/25 | For Sale | $167,500 | -88.0% | $189 / Sq Ft | |
| 12/20/2019 12/20/19 | Sold | $1,400,000 | -5.7% | $1,577 / Sq Ft | View Prior Sale |
| 11/23/2019 11/23/19 | For Sale | $1,485,000 | +98.5% | $1,672 / Sq Ft | |
| 10/24/2015 10/24/15 | Sold | $748,000 | -3.5% | $842 / Sq Ft | View Prior Sale |
| 08/24/2015 08/24/15 | Pending | -- | -- | -- | |
| 07/28/2015 07/28/15 | For Sale | $775,000 | -- | $873 / Sq Ft |
Source: Arizona Regional Multiple Listing Service (ARMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $2,855 | $23,817 | ||
| 2024 | $2,636 | $22,682 | ||
| 2023 | $2,636 | $81,700 | $16,340 | $65,360 |
| 2022 | $2,528 | $65,330 | $13,060 | $52,270 |
| 2021 | $2,546 | $55,480 | $11,090 | $44,390 |
| 2020 | $2,468 | $49,450 | $9,890 | $39,560 |
| 2019 | $2,422 | $39,650 | $7,930 | $31,720 |
| 2018 | $2,362 | $32,850 | $6,570 | $26,280 |
| 2017 | $2,291 | $27,100 | $5,420 | $21,680 |
| 2016 | $2,275 | $24,680 | $4,930 | $19,750 |
| 2015 | $2,185 | $24,810 | $4,960 | $19,850 |
Source: Public Records
Agents Affiliated with this Home
-
Chris Bianco
Seller's Agent in 2026
Chris Bianco
Civic Center Real Estate
(602) 291-2090
1 in this area
64 Total Sales
-
S
Seller's Agent in 2019
Sophia Willets
Grace CRE
-
Joshua Willets
Seller Co-Listing Agent in 2019
Joshua Willets
Get Multifamily
(561) 473-4477
1 in this area
15 Total Sales
-
Eric Hegarty
Seller's Agent in 2015
Eric Hegarty
Levrose Real Estate
(480) 329-6083
17 Total Sales
-
N
Buyer's Agent in 2015
Non-MLS Agent
Non-MLS Office
Map
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6919748
APN: 124-70-026
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393
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