- $1.6M Price
508 S Farmer Avenue
PRIME REDEVELOPMENT OPPORTUNITY IN DOWNTOWN TEMPE. SURROUNDED BY A COLLECTION OF HIGH-END COMMERCIAL/OFFICE DEVELOPMENTS, A BOUTIQUE HOTEL, AND TRENDY URBAN MULTI USE CONDOMINIUMS, THIS PROPERTY IS ONE OF THE LAST BEST INFILL LOCATIONS AVAILABLE FOR LONG TERM INVESTMENT GROWTH. THE 2 PARCELS ARE ALSO LOCATED IN TEMPE'S TRANSPORTATION OVERLAY DISTRICT, ALLOWING ADDITIONAL DEVELOPMENT OPTIONS NOT FOUND IN OTHER R3 ZONED CITY NEIGHBORHOODS. IN ADDITION, THE EXISTING 8 RENTAL UNITS ARE 100% OCCUPIED OFFERING IMMEDIATE CASH FLOW DURING THE PLANNING PROCESS.
Essential Information
- MLS® #6978065
- Price$1,649,500
- Year Built1960
- TypeMultiple Dwellings
- StatusActive
Community Information
- Address508 S Farmer Avenue
- SubdivisionORTH SUB
- CityTempe
- CountyMaricopa
- StateAZ
- Zip Code85281
Amenities
- AmenitiesNo Pool
- Parking Spaces8
Parking
Off Street, Detached Carport, Add'l Parking Avail
Interior
- HeatingHeat Pump
Appliances
Refrigerator, Free-Standing Gas Oven
Cooling
Ceiling Fan(s), Electric, Heat Pump, Individual
Exterior
- RoofBuilt-Up
- ConstructionPainted, Block
School Information
District
Tempe Union High School District
Additional Information
- ZoningR3
Listing Details
- OfficeHomeSmart
Price Change History for 508 S Farmer Avenue, Tempe, AZ (MLS® #6978065)
| Date | Details | Change |
|---|---|---|
| Price Reduced from $1,749,500 to $1,649,500 |
HomeSmart.
Information Deemed Reliable But Not Guaranteed. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. ARMLS Logo indicates that a property listed by a real estate brokerage other than Launch Real Estate LLC. Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved.
Listing information last updated on February 27th, 2026 at 9:49pm MST.