$1,420,000
Tempe, AZ 85281
MLS# 7011894
1 / 14
Property Description
This 7-unit, garden-style apartment property sits in an incredible location, approximately half a mile from ASU's main campus. Additionally, this property boasts proximity to Tempe Town Lake offices, Mill Avenue, the 202 freeway, and Sky Harbor Airport. Location isn't the only desirable characteristic of the Apartments on Farmer, as 5 of 7 units have been thoroughly remodeled in the past 5 years (the other two units are occupied by long-term tenants). Along with interior updates, the property's comprehensive renovation included significant roofing, plumbing, and electrical work, with 4 of 7 units now boasting their own laundry facilities. Six storage rooms also on site. Don't miss out on this incredible location!
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $1,420,000
List Price: $1,420,000
Status: Active
List Date: 2026-04-10
Location, Tax & Legal
Assessor's Map #: 70
Assessor's Parcel #: 19
Add'l Parcels: No
Tax Municipality: Tempe
Taxes: 2258
Legal: FARMERS LOT 6 & S 25' OF LOT 5 BLK 5
Marketing Name: Farmer
House Number: 1219
Compass: S
Street Name: Farmer
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
County Code: Maricopa
Subdivision: FARMERS ADDITION BLOCKS 1-2 & PART 3 & LOTS 1-5
Assessor Number: 124-70-019
Tax Year: 2025
General Property Description
# of Buildings: 3
Uncvrd Parking Spcs: 10
Lot Size Dimensions: 75' x 142.5'
Total # of Units: 7
Elementary School District: Tempe School District
High School District: Tempe Union High School District
Elementary School: Holdeman Elementary School
Jr. High School: Geneva Epps Mosley Middle School
High School: Tempe High School
Year Built: 1961
Zoning: R-3
Project Type
5 - 12 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Foam: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Other: 1
Sale Includes
Land & Building: 1
Laundry Equipment: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0
Pmt & Rate Info
Cap Rate: 5.34
Equity: 1420000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Text: 1
Email: 1
Phone Call: 1
Lockbox Type
See Private Remarks: 1
None: 1
Community Features
No Pool: 1
Heating
Individual: 1
Central: 1
Window/Wall Unit(s): 1
2 or More Units: 1
Cooling
Central Air: 1
Window/Wall Unit: 1
Individual: 1
2 or More Units: 1
Exterior Amenities
Desert Landscaping: 1
Partially Fenced: 1
Curb(s) & Gutter(s): 1
Sidewalk(s): 1
Separate Storage: 1
Interior Features
Unfurnished: 1
Tenant Pays
Gas: 1
Electricity: 1
Appliances Included
Microwave: 1
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
Road Access Type
City Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
>1 Space Per Unit: 1
Paved: 1
Electric
APS: 1
Individual Meter: 1
Gas
SW Gas: 1
Individual Meter: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Cash: 1
Conventional: 1
No Carry: 1
Existing 1st Loan
Treat as Free&Clear: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Efficiency Units
# Efficiency Units: 4
Avg Rent: 1128
Avg SqFt: 400
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 1395
Avg SqFt: 525
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1360
Avg SqFt: 650
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: Mill Ave & 13th St
Directions: From Mill Ave, turn west on 13th St. In approximately 1200 feet, turn north (right) on Farmer Ave. Property is on the east side of the street.
Geo Lat: 33.415267
Geo Lon: -111.943941
Legal Info
Lot Number: 6
Income Expenses
Net Operating Income: 75795.72
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition; Foam
Floors: Vinyl; Ceramic Tile; Other
Sale Includes: Land & Building; Laundry Equipment
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Partially Fenced; Curb(s) & Gutter(s); Sidewalk(s); Separate Storage
Interior Features: Unfurnished
Appliances Included: Free-Standing Range; Refrigerator; Microwave; Washer/Dryer
Heating: Individual; Central; Window/Wall Unit(s); 2 or More Units
Cooling: Window/Wall Unit; Individual; Central Air; 2 or More Units
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: SW Gas; Individual Meter
Parking Features: >1 Space Per Unit; Paved
Road Access Type: City Street
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Gas
Source of Fincl Data: Owner
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: See Private Remarks; None
Existing 1st Loan: Treat as Free&Clear
New Financing: Cash; Conventional; No Carry
Environmental: None
Listing Office: HomeSmart
Last Updated: April - 10 - 2026
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