1201 S Farmer Avenue Unit 1, Tempe, AZ 85281
- $352,500
- Sold Price
- $352,500
- List Price
- $395,000
- Closing Date
- Apr 22, 2026
- Days on Market
- 48
- Status
- CLOSED
- MLS#
- 6994729
- City
- Tempe
- Lot Size
- 8,755
- Subdivision
- Farmers Addition Blocks 1-2 & Part 3 & Lots 1-5
Property Description
This offering represents a rare opportunity to acquire a prime infill development site located 1/2 mile from Arizona State University's Main Campus, positioned squarely in the heart of Tempe's most active residential corridor. With Medium-Density Residential zoning already in place, the property supports the development of four townhome units, the configuration most aligned with demand trends, buildability, and exit value in this submarket. The site is ideally situated within a high-barrier-to-entry area characterized by persistent land scarcity, escalating construction activity, and stable long-term growth. Its proximity to ASU ensures a strong, consistent student housing demand base, while also attracting young professionals seeking well-located urban housing near employment, entertainment, transit, and the Mill Avenue District.
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Additional Information
- Elementary School
- Getz School
- High School
- Tempe High School
- Middle School
- Getz School
- Acres
- 0.20
- Electric
- SRP
- Lot Size
- 8,755
- New Financing
- Cash, Conventional, 1031 Exchange
- Subdivision
- Farmers Addition Blocks 1-2 & Part 3 & Lots 1-5
- Taxes
- $2,864
- Tax Year
- 2025
- Vegetation
- Natural Vegetation
- Water
- City Franchise
- Zoning
- R-3
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Listing courtesy of Compass. Selling Office: Non-MLS Office.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved.