$949,995

1234 S Farmer Ave Tempe, AZ 85281

Mitchell Park East Neighborhood

Estimated payment $5,171/month

Total Views 5,111
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

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!

Listing Agent

Alan Kittelman

Venture REI, LLC License #BR549414000 Listed on: 06/30/2025

Venture REI, LLC

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

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,979

Year Built

Built in 1950

Lot Details

0

Listing Details

  • Cross Street: 13th St & Mill Ave
  • Legal Info Range: 4E
  • Property Type: Multiple Dwellings
  • Zoning: R3
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1950
  • Tax Year: 2024
  • Road Surface Type: Asphalt, Sidewalk(s)
  • Subdivision Name: STATE COLLEGE HOMES LOTS 41-48
  • Tax Parcel Letter: B
  • Cooling:Ceiling Fan(s): Yes
  • Cooling:Central Air: Yes
  • Roofing:Composition: Yes
  • Water Source City Franchise2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile, Concrete
  • Appliances: Refrigerator, Free-Standing Electric Oven, Microwave, Washer/Dryer, W/D Hookup
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:WD Hookup: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Block
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 3.0
  • Parking Features: 1 Space/Unit
  • Attached Garage: No
  • Open Parking Spaces: 3.0
  • Total Parking Spaces: 6.0
  • General Property Description:Covered Parking Spcs: 3.0
  • General Property Description:Uncvrd Parking Spcs: 3.0
  • General Property Description:Total Parking Spcs: 6.0

Utilities

  • Electric: SRP
  • Cooling: Central Air, Ceiling Fan(s), Window/Wall Unit, Electric
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Schools

  • Elementary School: Holdeman Elementary School
  • High School: Tempe High School
  • Junior High Dist: Tempe Union High School District
  • Middle Or Junior School: Geneva Epps Mosley Middle School

Lot Info

  • Lot Size: 100 x 70
  • Additional Parcels: Yes
  • Parcel #: 124-70-031-B

Multi Family

  • Owner Pays: None
  • Number Of Units Total: 3
  • Annual Gross Income: 45600.0
  • Property Net Operating Income: 38906.8
  • Annual Operating Expense: 1979.0

Tax Info

  • Tax Annual Amount: 1979.0
  • Tax Book Number: 124.00
  • Tax Lot: 7

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

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 $14 $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
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/30/2025 06/30/25 For Sale $949,995 -- --
Source: Arizona Regional Multiple Listing Service (ARMLS)

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
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $80,500 Commercial
Source: Public Records

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6887472

Arizona Regional Multiple Listing Service (ARMLS)

APN: 124-70-031B

Arizona Maricopa County Tempe 85281 Mitchell Park East

1234 S Farmer Ave, Tempe, AZ

For Sale

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.

Arizona Regional Multiple Listing Service (ARMLS) 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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Alan Kittelman
Listing Agent
Alan Kittelman
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Venture REI, LLC
(602) 820-8164