Seller's Agent in 2026
Ron Fedri
HomeSmart
(602) 369-7994
1 in this area
29 Total Sales
508 S Farmer Ave Tempe, AZ 85281
Downtown Tempe Neighborhood
--
Bed
--
Bath
2,148
Sq Ft
1960
Built
Highlights
- Cooling Available
- Detached Carport Space
- Ceiling Fan
About This Home
As of May 2026PRIME 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.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,659
Year Built
- Built in 1960
Lot Details
- Additional Parcels
Home Design
- Built-Up Roof
- Block Exterior
Interior Spaces
- Ceiling Fan
- Blinds
Parking
- 8 Parking Spaces
- Detached Carport Space
- Additional Parking
- Off-Street Parking
Utilities
- Cooling Available
- Air Source Heat Pump
- Separate Meters
- Individual Gas Meter
- Cable TV Available
Listing and Financial Details
- Tenant pays for water, sewer, gas, trash collection, landscaping
- Tax Lot 1
- Assessor Parcel Number 124-33-002-A
Community Details
Overview
- 2 Buildings
- 8 Units
- Building Dimensions are 167.5 X 100
- Orth Sub Subdivision
Building Details
- Operating Expense $3,659
- Net Operating Income $70,576
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
Feb 1, 2026
Closed on
May 29, 2026
Sold by
Bought by
Seller's Agent
Ron Fedri
HomeSmart
Buyer's Agent
Dallin Hammond
ABI Multifamily
List Price
$1,649,500
Sold Price
$1,400,000
Premium/Discount to List
-$249,500
-15.13%
Views
16
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
948.62%
Original Mortgage
$490,000
Outstanding Balance
$490,000
Interest Rate
5.88%
Mortgage Type
New Conventional
Estimated Equity
$1,122,000
Purchase Details
Closed on
Jan 9, 2013
Sold by
Bought by
Purchase Details
Closed on
Feb 28, 2008
Sold by
Bought by
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Home Values in the Area
Average Home Value in this Area
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 |
|---|---|---|---|
| Trustee Deed | $176,000 | None Available | |
| Quit Claim Deed | -- | Fidelity Title |
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 |
|---|---|---|---|---|
| 05/28/2026 05/28/26 | Sold | $1,400,000 | -15.1% | $652 / Sq Ft |
| 04/06/2026 04/06/26 | Price Changed | $1,649,500 | 0.0% | $768 / Sq Ft |
| 04/06/2026 04/06/26 | For Sale | $1,649,500 | 0.0% | $768 / Sq Ft |
| 03/30/2026 03/30/26 | Pending | -- | -- | -- |
| 02/11/2026 02/11/26 | Price Changed | $1,649,500 | -5.7% | $768 / Sq Ft |
| 02/01/2026 02/01/26 | For Sale | $1,749,500 | -- | $814 / 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 | $1,956 | $16,323 | -- | -- |
| 2024 | $1,806 | $15,546 | -- | -- |
| 2023 | $1,806 | $54,470 | $10,890 | $43,580 |
| 2022 | $1,733 | $41,960 | $8,390 | $33,570 |
| 2021 | $1,745 | $34,300 | $6,860 | $27,440 |
| 2020 | $1,692 | $30,130 | $6,020 | $24,110 |
| 2019 | $1,660 | $25,800 | $5,160 | $20,640 |
| 2018 | $1,619 | $19,180 | $3,830 | $15,350 |
| 2017 | $1,570 | $17,850 | $3,570 | $14,280 |
| 2016 | $1,559 | $16,160 | $3,230 | $12,930 |
| 2015 | $1,498 | $16,320 | $3,260 | $13,060 |
Source: Public Records
Agents Affiliated with this Home
-
Ron Fedri
-
Dallin Hammond
Buyer's Agent in 2026
Dallin Hammond
ABI Multifamily
(602) 714-1400
2 in this area
34 Total Sales
Map
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6978065
APN: 124-33-002A
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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