1301 W 3RD Street, Tempe, AZ 85281
$825,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$825,000
Last Modified:
8/14/2025
Description
Prime Tempe 4-Plex - Great investment opportunity in a highly sought-after Tempe location! The property features two spacious 2-bedroom/1-bath units and two 1-bedroom/1-bath units, each with its own front patio. The one-bedroom units also enjoy private enclosed yards, perfect for added tenant appeal. Shared amenities include an on-site laundry room and rear parking. Nestled on a quiet, well-kept street with numerous remodeled homes, this property is just minutes from ASU campus, Carvana Headquarters, Phoenix Sky Harbor International Airport, the 202 freeway. With some long-term tenants already in place, there's significant upside potential for upgrades and market rent increases. Exceptional Value-Add Potential. Please do not disturb residents!
More Information MLS# 6905604
Contract Info
Current Price: $825,000
List Price: $825,000
Status: Active
List Date: 2025-08-13
Ownership: Fee Simple
Location Tax Legal
House Number: 1301
Compass: W
Street Name: 3RD
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 2466
County Code: Maricopa
Subdivision: GRIFFITH ESTATES
Assessor Number: 124-28-038
Tax Year: 2024
General Property Description
Lot Size Dimensions: 8359
Year Built: 1979
Uncvrd Parking Spcs: 6
Total # of Units: 4
# of Buildings: 1
Zoning: R3
Flood Zone: No
Elementary School District: Tempe School District
High School District: Tempe Union High School District
Elementary School: Scales Technology Academy
Jr. High School: Geneva Epps Mosley Middle School
High School: Tempe High School
Remarks Misc
Cross Street: PRIEST & UNIVERSITY
Directions: from 202 exit to Priest, South of Rio Salado Pkwy to 3rd Street, East to property on the right.
Geo Lat: 33.427056
Geo Lon: -111.958969
Legal Info
Township: 1N
Range: 4E
Section: 16
Lot Number: 1
Income Expenses
Gross Annual Sch Inc: 44700
Net Operating Income: 38520
Showing Notification Methods
Showing Service: Aligned Showings
1 Bedroom Units
# 1 Bedroom Units: 2
Avg Rent: 1050
Avg SqFt: 650
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1400
Avg SqFt: 750
# Baths: 1
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted
Roofing: Other
Floors: Vinyl; Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Fenced; Separate Storage
Interior Amenities: Unfurnished
Appliances Included: Refrigerator; Washer/Dryer; Other
Cooling: Ceiling Fan(s); Electric; Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: Paved
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity
Source of Fincl Data: Projected Proforma
Showing Notification Methods: Text; Phone Call
Lockbox Type: Supra
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional
Environmental: Other (See Remarks)
Listing Office: Real Broker
Last Updated: August - 14 - 2025
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