SoldMay 28, 2026

Listed by Ron Fedri from HomeSmart

Bought with Dallin Hammond from ABI Multifamily

Source: Arizona Regional Multiple Listing Service #6978065

508 South Farmer Avenue, Tempe, AZ, 85281

$1,400,000

8

MultiFam

•

30+ days on the market

Sold: May 28, 2026

What's around 508 South Farmer Avenue

About this property

PRIME REDEVELOPMENT OPPORTUNITY IN DOWNTOWN TEMPE. SURROUNDED BY A COLLECTION OF HIGH-END COMMERCIAL/OFFICE DEVELOPMENTS, A BOUTIQUE HOTEL, AND TRENDY URBAN MULTI USE CONDOMINIUMS, THIS PROPERTY IS ONE OF THE LAST BEST INFILL LOCATIONS AVAILABLE FOR LONG TERM INVESTMENT GROWTH. THE 2 PARCELS ARE ALSO LOCATED IN TEMPE'S TRANSPORTATION OVERLAY DISTRICT, ALLOWING ADDITIONAL DEVELOPMENT OPTIONS NOT FOUND IN OTHER R3 ZONED CITY NEIGHBORHOODS. IN ADDITION, THE EXISTING 8 RENTAL UNITS ARE 100% OCCUPIED OFFERING IMMEDIATE CASH FLOW DURING THE PLANNING PROCESS.

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