48 W THOMAS Lane, 1, Tempe, AZ 85281
$350,000
Property Type:
Land
Lot Size (sq. ft.):
6,957
Status:
Closed
Current Price:
$350,000
List Date:
1/11/2025
Last Modified:
8/01/2025
Description
Walking distance to ASU and nearby hospital and business, this is a fantastic opportunity to develop a multi-family property or dream home. North south exposure, corner lot, quiet street, this lot has a ton of potential. AZ House Bill 2721 provides allowances to build mult family residential on land previously zones residential. Cities must have ordinances in place by 1/1/26.
More Information MLS# 6803583
Contract Information
Current Price: $350,000
Sold Price: $350,000
Status: Closed
List Date: 2025-01-11
For Sale or Lease?: Sale
Type: Exclusive Right To Sell
Location Tax Legal
House Number: 48
Compass: W
Street Name: THOMAS
St Suffix: Lane
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
County Code: Maricopa
Assessor Number: 133-18-022-B
Subdivision: College View
Tax Year: 2024
General Property Description
Apx Total Acres: 0.18
Apx Total Acres G/N: G
Price Per Acre: 1944444.44
Apx SqFt: 6957
Price Per SqFt: 50.31
Apx SqFt G/N: G
Lot Size Dimensions: 62.5X125
Horses: N
Zoning: R-2
Elementary School District: Tempe School District
High School District: Tempe Union High School District
Elementary School: Holdeman Elementary School
Jr. High School: Geneva Epps Mosley Middle School
High School: Tempe High School
Remarks Misc
Cross Street: Mill Ave & Broadway Rd
Directions: Head north on S Mill Ave, Turn left onto W Thomas Ln. The property will be on the right.
Geo Lat: 33.413863
Geo Lon: -111.942146
Status Change Info
Off Market Date: 2025-01-18
Under Contract Date: 2025-01-18
Close of Escrow Date: 2025-03-03
Sold Price: $350,000
Legal Info
Lot Number: 1
Showing Notification Methods
Showing Service: No Showing Service Used
Sold Info
Loan Type: Cash
Closing Cost Split: Normal - N
Buyer Concession to Seller: 1
Buyer Concession $/%: %
Seller Concession $/%: %
Property Features
Special Listing Cond: N/A
Existing Land Use: Residential Lot
Zoned Presently: Single Family
Potential Use: Single Family; Multi-Family
Parcel Size: .0 - .24 Acres
Development Status: Raw Land
Land Features: Corner Lot; North/South Exp
Vegetation: Natural Vegetation
Land Configuration: Square Rectangular; Irregular Shape
Road Responsibility: City Maintained Road
Topography: Level
Existing Structures: None
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Distance to Cable: Under 350 Feet
Distance to Phone: Under 350 Feet
Distance to Water: Under 350 Feet
Distance to Electric: Under 350 Feet
Distance to Gas: Under 350 Feet
Distance to Sewer: Under 350 Feet
Existing 1st Loan: Treat as Free&Clear
Existing 2nd Loan: Treat as Free&Clear
New Financing: Cash; Conventional
Environmental: None
Showing Notification Methods: No Notification Required to Show
Lockbox Type: None
Fencing: Chain Link
Listing Office: Real Broker
Last Updated: August - 01 - 2025
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