UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Westway Park
MLS Listing ID 6888728
Maintenance Fees $3,000
Year Built 1970
Annual Tax Amount $2,779
Tax Year 2024
Lot Dimensions 13250
Source Arizona Regional Multiple Listing Service (ARMLS)
Property Description
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. 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.
Location
State AZ
County Maricopa
Community Westway Park
Area Maricopa
Zoning R-3R
Direction From Priest, east on Southern. Property located on the SE corner of Southern and S Shafer Dr.
Interior
Heating Heat Pump
Cooling Central Air, Ceiling Fan(s)
Flooring Carpet
Appliance Built-In Range, Disposal, Refrigerator, Microwave, Washer/Dryer
Exterior
Parking Features Paved, Assigned, Add'l Parking Avail, >1 Space Per Unit, Carport
Community Features No Pool
Roof Type Foam
Private Pool No
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Schools
High Schools Tempe High School
School District Tempe Union High School District
Others
Senior Community No
Tax ID 123-42-072
Acceptable Financing Conventional, 1031 Exchange, FHA, VA Loan
Disclosures None
Listing Terms Conventional, 1031 Exchange, FHA, VA Loan
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