1229 E Spence Avenue, Tempe, AZ 85281

$1,600,000
Property Type: Multiple Dwellings Status: Active
Current Price: $1,600,000 Last Modified: 11/23/2025

Description

Rare opportunity to purchase a R-4 (High Density) zoned multi family land and homes with frontage on Spence Ave in the heart of ASU campus. Listing included two residential houses, next to each out, zoned for high density multifamily. Nestled in a robust infill Arizona State location, this property is a beacon for savvy investors seeking unparalleled opportunities. Walk to Campus. Unmatched demographics include over 350,000 population count within a five-mile radius. Parcel numbers 133-09-045 and 133-09-055 **Buyer to verify all facts, figures, schools & measurements**

More Information MLS# 6950797

Contract Info

Ownership: Fee Simple Current Price: $1,600,000 List Price: $1,600,000 Status: Active List Date: 2025-11-10

Location, Tax & Legal

Assessor's Map #: 9 Assessor's Parcel #: 45 Add'l Parcels: Yes Tax Municipality: Tempe Taxes: 1450 Legal: STANLEY PLAT MCR 5617 & KENNETH PL LOT 6 N 120ft OF W 60ft OF LOT 6 Marketing Name: STANLEY PLAT & KENNETH PL House Number: 1229 Compass: E Street Name: Spence St Suffix: Avenue City/Town Code: Tempe State/Province: AZ Zip Code: 85281 County Code: Maricopa Subdivision: STANLEY PLAT & KENNETH PLACE Assessor Number: 133-09-045 Tax Year: 2025

General Property Description

# of Buildings: 2 Uncvrd Parking Spcs: 2 Lot Size Dimensions: Irregual Flood Zone: No Total # of Units: 2 Year Built: 1940 Zoning: R-4

Project Type

Other (See Remarks): 1

Other Type

House + Rental Units: 1 Packaged Offering: 1 Other (See Remarks): 1

Construction

Wood Frame: 1

Const - Finish

Painted: 1

Roofing

Composition: 1

Floors

Concrete: 1

Sale Includes

Land & Building: 1

Income & Expenses

Owner Association: No Annual Ownr Asoc Fee: 0 Operating Exp: 1450 Other Income: 0 Vacancy Allowance: 0 Adjusted Gross Inc: 0

Pmt & Rate Info

Equity: 1600000 Down Payment %: 100 Monthly Payments: 0 Total Owed: 0

Showing Notification Methods

Showing Service: Aligned Showings

Lockbox Type

None: 1

Community Features

No Pool: 1 See Remarks: 1

Heating

See Remarks: 1

Cooling

See Remarks: 1

Exterior Amenities

Fenced: 1 Other (See Remarks): 1

Interior Features

Other (See Remarks): 1

Tenant Pays

Other (See Remarks): 1

Appliances Included

See Remarks: 1

Road Access Type

City Street: 1

Road Surface Type

Asphalt: 1

Source of Fincl Data

Other (See Remarks): 1

Water Source

See Remarks: 1

Sewer

See Remarks: 1

Parking Features

Free: 1 1 Space/Unit: 1 Paved: 1

Electric

Other (See Remarks): 1

Gas

Other (See Remarks): 1

Owner Pays

See Remarks: 1

New Financing

Cash: 1

Existing 1st Loan

Treat as Free&Clear: 1

Existing 1st Loan Type

Not Applicable: 1

Existing 1st Loan Terms

Not Applicable: 1

Existing 2nd Loan

Treat as Free&Clear: 1

Existing 2nd Loan Type

Not Applicable: 1

Existing 2nd Loan Terms

Not Applicable: 1

Existing 3rd Loan

Treat as Free&Clear: 1

Existing 3rd Loan Type

Not Applicable: 1

Reports/Disclosures

None: 1

Existing 3rd Loan Terms

Not Applicable: 1

Environmental

None: 1

Existing Othr Ln Trm

Not Applicable: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

2 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Remarks Misc

Cross Street: Rural and Apache Directions: South on Rural, East on Sp Geo Lat: 33.412616 Geo Lon: -111.918924

Legal Info

Lot Number: 5 & 6

Property Features

Project Type: Other (See Remarks) Other Type: House + Rental Units; Packaged Offering; Other (See Remarks) Construction: Wood Frame Const - Finish: Painted Roofing: Composition Floors: Concrete Sale Includes: Land & Building Community Features: No Pool; See Remarks Exterior Amenities: Fenced; Other (See Remarks) Interior Features: Other (See Remarks) Appliances Included: See Remarks Heating: See Remarks Cooling: See Remarks Water Source: See Remarks Sewer: See Remarks Electric: Other (See Remarks) Gas: Other (See Remarks) Parking Features: 1 Space/Unit; Free; Paved Road Access Type: City Street Road Surface Type: Asphalt Owner Pays: See Remarks Tenant Pays: Other (See Remarks) Source of Fincl Data: Other (See Remarks) Lockbox Type: None Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Cash Environmental: None
Listing Office: Realty ONE Group
IDX
Last Updated: November - 23 - 2025
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