1321 W 5th Street, Tempe, AZ 85281
$899,000
Property Type:
Multiple Dwellings
Status:
Pending
Current Price:
$899,000
Last Modified:
9/18/2025
Description
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.
More Information MLS# 6885871
Contract Info
Current Price: $899,000
List Price: $899,000
Status: Pending
List Date: 2025-06-27
Ownership: Fee Simple
Location Tax Legal
House Number: 1321
Compass: W
Street Name: 5th
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
County Code: Maricopa
Assessor Number: 124-37-004-F
Tax Year: 2024
General Property Description
Lot Size Dimensions: 11326
Year Built: 1970
Uncvrd Parking Spcs: 4
Total # of Units: 4
# of Buildings: 1
Zoning: Multi-Family
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 Dr & Rio Salado Parkway
Directions: S on Priest to 5th St. E on 5th to (3rd) 4plex on Right- 1321. Follow around to alley in rear for parking.
Geo Lat: 33.42519
Geo Lon: -111.960096
Status Change Info
Off Market Date: 2025-08-20
Under Contract Date: 2025-08-20
Legal Info
Lot Number: 38
Income Expenses
Gross Annual Sch Inc: 4490
Net Operating Income: 53880
Showing Notification Methods
Showing Service: Aligned Showings
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1122
Avg SqFt: 700
# Baths: 1
Contact Info
List Agent Home Phn: 602-418-2473
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted; Stucco
Roofing: Built-Up; Rolled
Floors: Vinyl; Ceramic Tile
Sale Includes: Land & Building; Laundry Equipment
Community Features: No Pool
Exterior Amenities: Landscape Wtr System; Desert Landscaping; Partially Fenced
Interior Amenities: Unfurnished
Appliances Included: Free-Standing Electric Oven; Refrigerator
Heating: Natural Gas
Cooling: Ceiling Fan(s); Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: >1 Space Per Unit; Assigned
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Gas
Source of Fincl Data: Owner
Lockbox Type: Supra
Existing 1st Loan: Treat as Free&Clear
New Financing: Cash; VA; FHA; Conventional; No Carry
Environmental: None
Listing Office: Desert Dimensions Properties
Last Updated: September - 18 - 2025
Copyright 2025 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.