Rare opportunity to purchase a R-4 (High Density) zoned multi family land and homes with frontage on Spence Ave in the heart of ASU campus. Listing included two residential houses, next to each out, zoned for high density multifamily. Nestled in a robust infill Arizona State location, this property is a beacon for savvy investors seeking unparalleled opportunities. Walk to Campus. Unmatched demographics include over 350,000 population count within a five-mile radius. Parcel numbers 133-09-045 and 133-09-055 **Buyer to verify all facts, figures, schools & measurements**
For sale
Price cut: $76K (8/17)
$1,299,000
1229 E Spence Avenue, Tempe, AZ 85281
--beds
--baths
--sqft
Multi Family
Built in 1940
-- sqft lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
- 313 days
- 131
- 3
Zillow last checked:
Listing updated:
Listed by:
Jason Miszuk 602-363-5058,
Realty ONE Group,
Maggie Wu 480-828-2010,
Realty ONE Group
Source: ARMLS,MLS#: 6950797
Facts & features
Interior
Heating
- See Remarks
Cooling
- See Remarks
Appliances
- Included: See Remarks
Features
- Flooring: Concrete
Property
Parking
- Total spaces: 3
- Parking features: Paved, Free, 1 Space/Unit
- Covered spaces: 1
- Uncovered spaces: 2
Details
- Parcel number: 13309045
- Zoning: R-4
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Wood Frame, Painted
- Roof: Composition
Condition
- Year built: 1940
Utilities & green energy
- Electric: Other (See Remarks)
- Sewer: See Remarks
- Water: See Remarks
Community & HOA
Community
- Features: See Remarks, No Pool
- Subdivision: STANLEY PLAT & KENNETH PLACE
Location
- Region: Tempe
Financial & listing details
- Tax assessed value: $297,200
- Annual tax amount: $1,450
- Date on market: 11/10/2025
- Cumulative days on market: 300 days
- Ownership: Fee Simple
- Electric utility on property: Yes
- Road surface type: Asphalt
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 8/17/2026 | Price change | $1,299,000-5.5% |
Source:  ARMLS #6950797 Report a problem | ||
| 6/26/2026 | Price change | $1,375,000-5.2% |
Source: ARMLS #6950797 Report a problem | ||
| 2/15/2026 | Price change | $1,450,000-9.4% |
Source: ARMLS #6950797 Report a problem | ||
| 11/23/2025 | Listed for sale | $1,600,000+1003.4% |
Source: ARMLS #6950797 Report a problem | ||
| 3/11/2016 | Sold | $145,000 |
Source: ARMLS #5386786 Report a problem | ||
| 1/21/2016 | Listed for sale | $145,000 |
Source: R.O.I. Properties #5386786 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $940 +7% | $29,720 -9.8% |
| 2024 | $879 -0.2% | $32,960 +354.9% |
| 2023 | $880 +3.8% | $7,245 -67.7% |
| 2022 | $848 +2.4% | $22,400 +11% |
| 2021 | $828 +1.9% | $20,180 +15.6% |
| 2020 | $812 +2.6% | $17,460 +10.8% |
| 2019 | $792 | $15,760 +17% |
| 2018 | $792 -8.9% | $13,470 +11.1% |
| 2017 | $869 +18.6% | $12,120 +79% |
| 2016 | $733 +3.4% | $6,770 +34.6% |
| 2015 | $709 | $5,030 +7.7% |
| 2014 | -- | $4,670 -43.3% |
| 2013 | -- | $8,230 +10.3% |
| 2012 | -- | $7,460 -26.9% |
| 2011 | -- | $10,210 -20.9% |
| 2010 | -- | $12,910 +0.1% |
| 2009 | -- | $12,900 +12.2% |
| 2008 | -- | $11,500 +12.2% |
| 2007 | -- | $10,250 +24.2% |
| 2006 | -- | $8,250 |
| 2005 | -- | $8,250 +0.6% |
| 2004 | -- | $8,200 |
| 2003 | -- | $8,200 +29.1% |
| 2002 | -- | $6,350 |
Find assessor info on the county website
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Neighborhood: Jen Tilly Terrace
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