1234 S Farmer Ave Tempe, AZ 85281
Mitchell Park East NeighborhoodEstimated payment $5,436/month
Highlights
- Cooling System Mounted To A Wall/Window
- Ceiling Fan
- Heating Available
- Ceramic Tile Flooring
About This Home
Incredible triplex in the heart of downtown Tempe—just a stone's throw from ASU! This well-maintained 1950 build sits on the corner of 13th & Farmer and includes two 2BR/1BA units (~900 sq ft each) and one ~600 sq ft studio. All three units are leased through July 2026, offering strong in-place cash flow. Updates include newer A/C units, a roof under 10 years old, and long-term ownership since 1996. Each unit has private access, with 410 W 13th featuring its own separate entrance. Prime walkable location near campus, Mill Ave, and Tempe Town Lake!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,979
Year Built
- Built in 1950
Home Design
- Composition Roof
- Block Exterior
Flooring
- Concrete
- Ceramic Tile
Parking
- 6 Parking Spaces
- 3 Covered Spaces
Schools
- Holdeman Elementary School
- Geneva Epps Mosley Middle School
- Tempe High School
Utilities
- Cooling System Mounted To A Wall/Window
- Central Air
- Heating Available
Additional Features
- Ceiling Fan
- Additional Parcels
Listing and Financial Details
- Tax Lot 7
- Assessor Parcel Number 124-70-031-B
Community Details
Overview
- 3 Units
- Building Dimensions are 100 x 70
- State College Homes Lots 41 48 Subdivision
Building Details
- Operating Expense $1,979
- Gross Income $45,600
- Net Operating Income $38,907
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| 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 | $13 | $120 | $120 | -- |
| 2024 | $13 | $114 | $114 | -- |
| 2023 | $13 | $440 | $440 | $0 |
| 2022 | $13 | $350 | $350 | $0 |
| 2021 | $13 | $300 | $300 | $0 |
| 2020 | $12 | $260 | $260 | $0 |
| 2019 | $12 | $220 | $220 | $0 |
| 2018 | $12 | $160 | $160 | $0 |
| 2017 | $12 | $150 | $150 | $0 |
| 2016 | $11 | $140 | $140 | $0 |
| 2015 | $11 | $130 | $130 | $0 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/30/2025 06/30/25 | For Sale | $949,995 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | -- | None Listed On Document | |
| Interfamily Deed Transfer | -- | None Available | |
| Warranty Deed | $115,000 | Capital Title Agency |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $100,000 | Credit Line Revolving | |
| Previous Owner | $74,235 | Commercial | |
| Previous Owner | $80,500 | Commercial |
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6887472
APN: 124-70-031B
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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