421 W 5th St Tempe, AZ 85281
Riverside NeighborhoodEstimated payment $4,464/month
Total Views
2,964
3
Beds
1
Bath
1,000
Sq Ft
$795
Price per Sq Ft
Highlights
- Transportation Service
- Property is near public transit
- Eat-In Kitchen
- 0.19 Acre Lot
- No HOA
- Patio
About This Home
Calling all investors and builders/developers!! This is a VERY RARE opportunity to own a property just a few blocks away from Mill Ave!! Located on one of the best streets - 5th St! Great R3 zoning! Large 8,300+ sf lot! New construction abounds! Urban infill at its best! - there is a new 50m+ upscale mid-rise project directly across the street that is just being completed! And less than 100 yards to the east is Farmer Ave, where hundreds of millions have been spent on a variety of commercial, multifamily, and mixed used developments, including the new Westin Vib hotel! Only a block to the Tempe Streetcar, which connects to the Light Rail, which is less than 2 min away! Walk to ASU, Mill Ave, Tempe Town Lake and more! This is a GREAT AREA R-3 ZONING, large/deep lot!! Perfect location for new condos/townhomes to build and sell. This is also a Great location to build luxury townhome rentals for students! There are models with 4 bed/5 bath that builders are constructing with huge cash flow and they are much further away from ASU and Mill Ave etc. Zoning should allow for 3 units but check with city as owner/agent makes no guarantees. Imagine the views from the 3rd floor rooftop balconies of the West 5 towers and the Tempe skyline, plus the mountain views!! At 900k that's just 300k per unit land cost (if you build 3 units)!
The home on this property was updated in 2021 when the current buyer purchased it, and it's currently rented for 2,250/mo, it's a mo to mo lease, tenants have been there for since current owner purchased the home. Drive by only, do not disturb the tenants! Thank you!!
5 min to 202 Freeway, 10 min to Sky Harbor Airport, 15 min to downtown Phoenix, and much more!
Listing Agent
Windermere Real Estate & Property Management License #SA642645000 Listed on: 05/08/2025
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $1,347
Year Built
- Built in 1954
Lot Details
- 8,375 Sq Ft Lot
- Block Wall Fence
- Chain Link Fence
Home Design
- Composition Roof
- Block Exterior
Interior Spaces
- 1,000 Sq Ft Home
- 1-Story Property
- Ceiling Fan
- Tile Flooring
- Washer and Dryer Hookup
Kitchen
- Eat-In Kitchen
- Gas Cooktop
Bedrooms and Bathrooms
- 3 Bedrooms
- 1 Bathroom
Parking
- 2 Open Parking Spaces
- 1 Carport Space
Location
- Property is near public transit
- Property is near a bus stop
Schools
- Scales Technology Academy Elementary School
- Geneva Epps Mosley Middle School
- Tempe High School
Utilities
- Central Air
- Heating System Uses Natural Gas
- Cable TV Available
Additional Features
- No Interior Steps
- Patio
Listing and Financial Details
- Tax Lot 6
- Assessor Parcel Number 124-33-006
Community Details
Overview
- No Home Owners Association
- Association fees include no fees
- Orth Subdivision
Amenities
- Transportation Service
Recreation
- Community Playground
- Bike Trail
Map
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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 | $1,347 | $12,024 | -- | -- |
| 2024 | $1,331 | $11,451 | -- | -- |
| 2023 | $1,331 | $32,850 | $6,570 | $26,280 |
| 2022 | $1,276 | $26,960 | $5,390 | $21,570 |
| 2021 | $1,285 | $24,720 | $4,940 | $19,780 |
| 2020 | $1,246 | $20,480 | $4,090 | $16,390 |
| 2019 | $1,223 | $15,830 | $3,160 | $12,670 |
| 2018 | $1,192 | $13,850 | $2,770 | $11,080 |
| 2017 | $1,157 | $11,530 | $2,300 | $9,230 |
| 2016 | $1,149 | $9,860 | $1,970 | $7,890 |
| 2015 | $1,103 | $8,700 | $1,740 | $6,960 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/06/2025 06/06/25 | Price Changed | $795,000 | -11.7% | $795 / Sq Ft |
| 05/08/2025 05/08/25 | For Sale | $900,000 | +91.5% | $900 / Sq Ft |
| 12/08/2021 12/08/21 | Sold | $470,000 | -5.8% | $547 / Sq Ft |
| 08/30/2021 08/30/21 | Price Changed | $499,000 | -44.6% | $581 / Sq Ft |
| 08/02/2021 08/02/21 | For Sale | $900,000 | -- | $1,048 / Sq Ft |
Source: Arizona Regional Multiple Listing Service (ARMLS)
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $470,000 | Clear Title Agency Of Az | |
| Interfamily Deed Transfer | -- | -- | |
| Quit Claim Deed | -- | Security Title Agency | |
| Interfamily Deed Transfer | -- | Security Title Agency |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $225,000 | New Conventional | |
| Previous Owner | $58,000 | Purchase Money Mortgage |
Source: Public Records
Similar Homes in the area
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6862698
APN: 124-33-006
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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