Incredible Tempe investment opportunity! This fully leased, single story 4-plex features long-term, reliable tenants & has been professionally managed for years. All tenants are current on rent, some under market. Major updates, including roof and all AC units, were completed in 2018. Ideally located minutes from ASU, downtown Tempe, Tempe Town Lake, major freeways (Loop 202, 101 & I-10) and multiple bus lines. Quick access to top area employers like State Farm, ADP, Amazon, and Wells Fargo. Covered and uncovered parking at rear of property and shared laundry facility on site. Plus, room to add Tenant value with some interior and exterior cosmetic updates, reflected in list price. This property offers strong value in one of the Valley's most sought-after rental markets.
For sale
$899,000
1321 W 5th St, Tempe, AZ 85281
8beds
4baths
2,800sqft
Est.:
Multi Family
Built in 1970
-- sqft lot
$-- Zestimate®
$321/sqft
$-- HOA
What's special
Covered and uncovered parking
- 49 days
- on Zillow |
- 525 |
- 29 |
Zillow last checked: 7 hours ago
Listing updated: August 12, 2025 at 10:13am
Listed by:
Joseph A Maggiore 602-418-2473,
Desert Dimensions Properties
Source: ARMLS,MLS#: 6885871

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
Heating
- Natural Gas
Cooling
- Ceiling Fan(s), Electric
Appliances
- Included: Refrigerator, Free-Standing Electric Oven
Features
- Flooring: Ceramic Tile, Vinyl
Interior area
- Total structure area: 2,800
- Total interior livable area: 2,800 sqft
Property
Parking
- Total spaces: 8
- Parking features: Assigned, >1 Space Per Unit
- Covered spaces: 4
- Uncovered spaces: 4
Lot
- Size: 0.26 Acres
- Dimensions: 11326
Details
- Parcel number: 12437004F
- Zoning: Multi-Family
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Painted, Stucco, Block
- Roof: Built-Up
Condition
- Year built: 1970
Utilities & green energy
- Electric: SRP
- Sewer: Public Sewer
- Water: City Franchise
Community & HOA
Community
- Features: No Pool
Location
- Region: Tempe
Financial & listing details
- Price per square foot: $321/sqft
- Tax assessed value: $802,100
- Annual tax amount: $2,641
- Date on market: 6/27/2025
- Listing terms: No Carry,Conventional,FHA,VA Loan
- Ownership: Fee Simple
- Electric utility on property: Yes
- Road surface type: Asphalt
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