1229 E Spence Avenue, Tempe, AZ 85281
$1,450,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$1,450,000
Last Modified:
3/18/2026
Overview
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**
Listing Details MLS# 6950797
Location, Tax & Legal
- 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
- 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
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- Irregual
- Year Built
- 1940
- Uncvrd Parking Spcs
- 2
- Total # of Units
- 2
- # of Buildings
- 2
- Zoning
- R-4
- Flood Zone
- No
Remarks Misc
- Cross Street
- Rural and Apache
- Directions
- South on Rural, East on Sp
Legal Info
- Lot Number
- 5 & 6
Showing Notification Methods
- Showing Service
- Aligned Showings
More Information
Project Type
- Other (See Remarks)
- Yes
Other Type
- House + Rental Units
- Yes
- Packaged Offering
- Yes
- Other (See Remarks)
- Yes
Construction
- Wood Frame
- Yes
Const - Finish
- Painted
- Yes
Roofing
- Composition
- Yes
Floors
- Concrete
- Yes
Sale Includes
- Land & Building
- Yes
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
- 1450000
- Down Payment %
- 100
- Monthly Payments
- 0
- Total Owed
- 0
Lockbox Type
- None
- Yes
Community Features
- No Pool
- Yes
- See Remarks
- Yes
Heating
- See Remarks
- Yes
Cooling
- See Remarks
- Yes
Exterior Amenities
- Fenced
- Yes
- Other (See Remarks)
- Yes
Interior Features
- Other (See Remarks)
- Yes
Tenant Pays
- Other (See Remarks)
- Yes
Appliances Included
- See Remarks
- Yes
Road Access Type
- City Street
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Other (See Remarks)
- Yes
Water Source
- See Remarks
- Yes
Sewer
- See Remarks
- Yes
Parking Features
- Free
- Yes
- 1 Space/Unit
- Yes
- Paved
- Yes
Electric
- Other (See Remarks)
- Yes
Gas
- Other (See Remarks)
- Yes
Owner Pays
- See Remarks
- Yes
New Financing
- Cash
- Yes
Existing 1st Loan
- Treat as Free&Clear
- Yes
Existing 1st Loan Type
- Not Applicable
- Yes
Existing 1st Loan Terms
- Not Applicable
- Yes
Existing 2nd Loan
- Treat as Free&Clear
- Yes
Existing 2nd Loan Type
- Not Applicable
- Yes
Existing 2nd Loan Terms
- Not Applicable
- Yes
Existing 3rd Loan
- Treat as Free&Clear
- Yes
Existing 3rd Loan Type
- Not Applicable
- Yes
Reports/Disclosures
- None
- Yes
Existing 3rd Loan Terms
- Not Applicable
- Yes
Environmental
- None
- Yes
Existing Othr Ln Trm
- Not Applicable
- Yes
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
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
Last Updated: March - 18 - 2026
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