1145 W SOUTHERN Avenue, Tempe, AZ 85282 (MLS# 6888728)

1145 W SOUTHERN Avenue, Tempe, AZ 85282

$930,000

Property Type: Multiple Dwellings Status: Active

Current Price: $930,000 List Date: 7/11/2025 Last Modified: 4/07/2026

Overview

Description

DO NOT DISTURB TENANTS. BRAND NEW ROOF FEB 2026! 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.

Supplements: 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 o ... (Read more)

Listing Details MLS# 6888728

Location, Tax & Legal

House Number: 1145
Compass: W
Street Name: SOUTHERN
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85282
Zip4: 4528
County Code: Maricopa
Subdivision: WESTWAY PARK
Assessor Number: 123-42-072
Tax Year: 2024
Assessor's Map #: 42
Legal Description (Abbrev): WESTWAY PARK
Assessor's Parcel #: 72
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319705
Taxes: 2779
Tax District: T
Legal: WESTWAY PARK
Marketing Name: 1145 W Southern

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 13250
Year Built: 1970
Uncvrd Parking Spcs: 5
Total # of Units: 4
# of Buildings: Yes
Zoning: R-3R
Flood Zone: No
Elementary School District: Tempe School District
High School District: Tempe Union High School District
High School: Tempe High School

Remarks Misc

Cross Street: Southern & Priest
Directions: From Priest, east on Southern. Property located on the SE corner of Southern and S Shafer Dr.

Legal Info

Lot Number: 072

Income Expenses

Gross Annual Sch Inc: 61680
Net Operating Income: 58680

More Information

Showing Notification Methods

Showing Service: No Showing Service Used

2 Bedroom Units

# 2 Bedroom Units: 4
Avg Rent: 1360
Avg SqFt: 750
# Baths: 4

Project Type

Four Plex: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Foam: Yes

Floors

Vinyl: Yes
Carpet: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Annual Maint Exp: 3000
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 5779
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 58596
Total Monthly Rental Income: 5140

Pmt & Rate Info

Cap Rate: 6.28
Equity: 935000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Heat Pump: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes

Exterior Amenities

Desert Landscaping: Yes
Partially Fenced: Yes
Separate Storage: Yes

Interior Features

Fire/Smoke Alarm(s): Yes
Mini Blinds: Yes

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

Disposal: Yes
Microwave: Yes
Refrigerator: Yes
Built-In Range: Yes
Washer/Dryer: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes
>1 Space Per Unit: Yes
Paved: Yes
Add'l Parking Avail: Yes
Assigned: Yes

Electric

SRP: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Cash: Yes
VA: Yes
Conventional: Yes
FHA: Yes
1031 Exchange: Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: Four Plex Construction: Block Const - Finish: Painted Roofing: Foam Floors: Vinyl; Carpet Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Desert Landscaping; Partially Fenced; Separate Storage Interior Features: Fire/Smoke Alarm(s); Mini Blinds Appliances Included: Built-In Range; Refrigerator; Disposal; Microwave; Washer/Dryer Heating: Heat Pump Cooling: Ceiling Fan(s); Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: Carport; >1 Space Per Unit; Add'l Parking Avail; Assigned; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Lockbox Type: None New Financing: Cash; VA; FHA; Conventional; 1031 Exchange Environmental: None

Listing Office: Citiea

Last Updated: April - 07 - 2026