1145 W SOUTHERN Avenue, Tempe, AZ 85282
$940,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$940,000
List Date:
7/11/2025
Last Modified:
2/20/2026
Description
DO NOT DISTURB TENANTS. BRAND NEW ROOF FEB 2026!
Exceptional opportunity to acquire a high-visibility, turnkey Tempe 4-plex positioned on a premium, oversized lot directly on Southern Ave--an unbeatable location with strong rental demand and long-term appreciation potential. This meticulously maintained asset offers four spacious 2-bed, 1-bath units, all on month-to-month leases, creating immediate income with significant upside through rent optimization.
The property reflects true pride of ownership and is primed for seamless operation. Major capital improvements have already been completed, including brand new roof, new ABS plumbing, updated AC units, fresh interior and exterior paint, modern appliances, and updated finishes--making this a true plug-and-play investment.
Supplements: Situated on a nearly 11,000 sq ft lot--one of the largest among neighboring 4-plexes-- this property offers gigantic long-term potential, whether held for cash flow, repositioned for higher rents, or leveraged for future redevelopment. Rare scale, premier exposure, and turnkey condition in the heart of Tempe make this an extraordinary multifamily opportunity.
More Information MLS# 6888728
Contract Info
Ownership: Fee Simple
Current Price: $940,000
List Price: $940,000
Status: Active
List Date: 2025-07-04
Location, Tax & Legal
Assessor's Map #: 42
Legal Description (Abbrev): WESTWAY PARK
Assessor's Parcel #: 72
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319705
Taxes: 2779
Tax District: T
Legal: WESTWAY PARK
Marketing Name: 1145 W Southern
House Number: 1145
Compass: W
Street Name: SOUTHERN
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85282
Zip4: 4528
County Code: Maricopa
Subdivision: WESTWAY PARK
Assessor Number: 123-42-072
Tax Year: 2024
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 5
Lot Size Dimensions: 106x125
Flood Zone: No
Total # of Units: 4
Elementary School District: Tempe School District
High School District: Tempe Union High School District
High School: Tempe High School
Year Built: 1970
Zoning: R-3R
Project Type
Four Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Foam: 1
Floors
Vinyl: 1
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Maint Exp: 3000
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 5779
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 58596
Total Monthly Rental Income: 5140
Pmt & Rate Info
Cap Rate: 6.18
Equity: 950000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Heat Pump: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Exterior Amenities
Desert Landscaping: 1
Partially Fenced: 1
Separate Storage: 1
Interior Features
Fire/Smoke Alarm(s): 1
Mini Blinds: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Disposal: 1
Microwave: 1
Refrigerator: 1
Built-In Range: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
>1 Space Per Unit: 1
Paved: 1
Add'l Parking Avail: 1
Assigned: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Cash: 1
VA: 1
Conventional: 1
FHA: 1
1031 Exchange: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1285
Avg SqFt: 750
# Baths: 4
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: Southern & Priest
Directions: From Priest, east on Southern. Property located on the SE corner of Southern and S Shafer Dr.
Geo Lat: 33.392536
Geo Lon: -111.956612
Legal Info
Lot Number: 072
Income Expenses
Gross Annual Sch Inc: 61680
Net Operating Income: 58680
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted
Roofing: Foam
Floors: Vinyl; Carpet
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Partially Fenced; Separate Storage
Interior Features: Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: Built-In Range; Refrigerator; Disposal; Microwave; Washer/Dryer
Heating: Heat Pump
Cooling: Ceiling Fan(s); Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: Carport; >1 Space Per Unit; Add'l Parking Avail; Assigned; Paved
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner
Lockbox Type: None
New Financing: Cash; VA; FHA; Conventional; 1031 Exchange
Environmental: None
Listing Office:
Citiea
Last Updated: February - 20 - 2026
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