Exceptional investment opportunity in this well-maintained 9-unit multifamily property! Conveniently located in a desirable, high-demand rental area of Tempe, ASU. This 9-plex features 8-1bedroom units and 1- studio with strong rental history and low vacancy. Each unit offers functional layouts, and 15 dedicated parking. All units have been tastefully updated attracting quality long-term tenants. The property sits on a generous lot with potential for future development (buyer to verify). On-site laundry, separate utility meters, This is a turnkey addition to any investor's portfolio. Easy access to transit, ASU, shopping, and major employment centers. Whether you're a seasoned investor or entering the multifamily market, this is a rare chance to acquire a stable, cash-flowing asset.
Sold for $1,610,000
$1,610,000
1218 S FARMER Avenue, Tempe, AZ 85281
7beds
8baths
6,250sqft
Multi Family
Built in 1960
-- sqft lot
$-- Zestimate®
$258/sqft
$3,328 Estimated rent
Home value
Not available
Estimated sales range
Not available
$3,328/mo
Zestimate® history
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$7,357/mo
Est. payment
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Generous lotFunctional layouts
Zillow last checked:
Listing updated:
Listed by:
Chris Bianco 602-291-2090,
Civic Center Real Estate
Bought with:
Chris Bianco, BR641764000
Civic Center Real Estate
Source: ARMLS,MLS#: 6919748
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 8
Heating
- Heat Pump, Electric
Cooling
- Central Air, Ceiling Fan(s), Electric
Appliances
- Included: Disposal, Dishwasher, Refrigerator, Built-In Electric Oven, Microwave
Features
- Flooring: Vinyl
Interior area
- Total structure area: 6,250
- Total interior livable area: 6,250 sqft
Property
Parking
- Total spaces: 16
- Parking features: Add'l Parking Avail, 1 Space/Unit, Carport
- Has carport: Yes
- Covered spaces: 10
- Uncovered spaces: 6
Features
- Exterior features: Sidewalk(s)
Lot
- Size: 9,523 Square Feet
- Dimensions: 9523
Details
- Parcel number: 12470026
- Zoning: R-3
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Wood Frame, Painted, Block
- Roof: Composition
Condition
- Year built: 1960
Utilities & green energy
- Electric: APS
- Sewer: Public Sewer
- Water: City Franchise
Community & HOA
Community
- Features: Barbecue, Play Area, No Pool
- Security: Security Lights
- Subdivision: STATE COLLEGE HOMES LOTS 41-48
Location
- Region: Tempe
Financial & listing details
- Price per square foot: $258/sqft
- Tax assessed value: $859,800
- Annual tax amount: $2,668
- Date on market: 9/22/2025
- Cumulative days on market: 285 days
- Listing terms: Owner May Carry,Conventional,1031 Exchange
- Ownership: Fee Simple
- Electric utility on property: Yes
- Road surface type: Asphalt
Price history
| Date | Event | Price |
|---|---|---|
| 7/3/2026 | Sold | $1,610,000-3.9%$258/sqft |
Source:  ARMLS #6919748 Report a problem | ||
| 6/27/2026 | Pending sale | $1,675,000$268/sqft |
Source: ARMLS #6919748 Report a problem | ||
| 9/15/2025 | Listed for sale | $1,675,000+74.5%$268/sqft |
Source: ARMLS #6919748 Report a problem | ||
| 12/20/2019 | Listing removed | $960,000$154/sqft |
Source: Grace CRE #5987785 Report a problem | ||
| 10/5/2019 | Listed for sale | $960,000-20%$154/sqft |
Source: Grace CRE #5987785 Report a problem | ||
| 5/3/2019 | Sold | $1,200,000$192/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,843 +7% | $85,980 -2.7% |
| 2024 | $2,657 +1.2% | $88,400 +309.2% |
| 2023 | $2,625 +3.8% | $21,602 -66.9% |
| 2022 | $2,528 +2.4% | $65,330 +17.8% |
| 2021 | $2,468 +1.9% | $55,480 +12.2% |
| 2020 | $2,422 +2.5% | $49,450 +24.7% |
| 2019 | $2,362 | $39,650 +20.7% |
| 2018 | $2,362 +3.1% | $32,850 +21.2% |
| 2017 | $2,291 +4.9% | $27,100 +9.8% |
| 2016 | $2,185 | $24,680 -0.5% |
| 2015 | $2,185 | $24,810 +20.6% |
| 2014 | -- | $20,570 +75.7% |
| 2013 | -- | $11,710 -2.3% |
| 2012 | -- | $11,980 -50.1% |
| 2011 | -- | $24,008 -33.9% |
| 2010 | -- | $36,323 -4.1% |
| 2009 | -- | $37,880 +30.8% |
| 2008 | -- | $28,961 +5.4% |
| 2007 | -- | $27,472 +59.5% |
| 2006 | -- | $17,228 |
| 2005 | -- | $17,228 +53.5% |
| 2004 | -- | $11,224 |
| 2003 | -- | $11,224 |
Find assessor info on the county website
Neighborhood: Mitchell Park East
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Nearby schools
GreatSchools rating
- 4/10Holdeman Elementary SchoolGrades: PK-5Distance: 0.9 mi
- 2/10Geneva Epps Mosley Middle SchoolGrades: 6-8Distance: 0.7 mi
- 5/10Tempe High SchoolGrades: 9-12Distance: 0.5 mi
Schools provided by the listing agent
- Elementary: Holdeman Elementary School
- Middle: Geneva Epps Mosley Middle School
- High: Tempe High School
- District: Tempe School District
Source: ARMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Arizona
- Maricopa County
- Tempe
- 85281
- Mitchell Park East
- 1218 S FARMER Avenue
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