For sale

Price cut: $75K (6/26)

$1,375,000

1229 E Spence Avenue, Tempe, AZ 85281

--beds

--baths

--sqft

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Multi Family

Built in 1940

-- sqft lot

$-- Zestimate^®

$--/sqft

$-- HOA

What's special

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**

240 days

151

0

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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: 11/11/2025
Cumulative days on market: 228 days
Ownership: Fee Simple
Electric utility on property: Yes
Road surface type: Asphalt

Estimated market value

Not available

Estimated sales range

Not available

Price history

Date	Event	Price
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

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All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.

HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.

Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.

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