$995,000
Tempe, AZ 85281
MLS# 7077345
1 / 4
Property Description
PRIME TEMPE DEVELOPMENT OPPORTUNITY | RARE MULTIFAMILY BUILD SITE NEAR ASU | TWO PARCELS, ENDLESS POTENTIAL A rare opportunity to secure a prime redevelopment site in the heart of Tempe, just minutes from ASU. Located in one of the Valley's most sought-after multifamily submarkets, this offering includes two parcels, 124-70-002 and 124-70-003, with R-3 zoning allowing medium-density multifamily development. Whether you're an investor or developer looking to capitalize on the area's strong student-housing demand and proximity to ASU, this site offers an opportunity to bring your vision to life. Purchase both parcels together or separately, providing flexibility to suit your development strategy. Opportunities of this scale and proximity to ASU are rare to find.
Details
Maps
Contract Information
Current Price: $995,000
List Price: $995,000
Status: Active
List Date: 2026-09-08
For Sale or Lease?: Sale
Type: Exclusive Right To Sell
Location Tax Legal
House Number: 1031
Compass: S
Street Name: Farmer Ave Lots 7 &
St Suffix: --
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 5501
Country: US
County Code: Maricopa
Assessor Number: 124-70-003
Subdivision: FARMERS ADDITION BLOCKS 1-2 PART 3 LOTS 1-5
Tax Year: 2025
General Property Description
Apx Total Acres: 0.16
Apx Total Acres G/N: G
Price Per Acre: 6218750
Apx SqFt: 7125
Price Per SqFt: 139.65
Apx SqFt G/N: G
Lot Size Dimensions: 142.5'x100'
Zoning: R-3
High School District: Tempe Union High School District
Remarks Misc
Cross Street: S Farmer Ave & 10th St
Geo Lat: 33.417768
Geo Lon: -111.943873
Legal Info
Township: 1N
Range: 4E
Section: 21
Lot Number: 8
Showing Notification Methods
Showing Service: Aligned Showings
Property Features
Special Listing Cond: N/A
Existing Land Use: Other (See Rmks)
Zoned Presently: Single Family; Multi-Family; Other (See Rmks)
Potential Use: Single Family; Multi-Family; Other; See Remarks
Parcel Size: .25 - .49 Acres
Development Status: Raw Land
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: None
Distance to Cable: Call Listing Office
Distance to Phone: Call Listing Office
Distance to Water: Call Listing Office
Distance to Electric: Call Listing Office
Distance to Gas: Call Listing Office
Distance to Sewer: Call Listing Office
New Financing: Cash; Conventional
Environmental: None
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Listing Office: eXp Realty
Last Updated: September - 08 - 2026
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