$1,677,000
Active
2
Beds
2
Baths
1863
Sqft
0.05
Acres
140 E Rio Salado Pw #1101, Tempe, AZ 85281
MLS#: 7092004
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Overview
Location
Mortgage
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Sold for $1,400,000
Sold for $1,400,000
508 S Farmer Ave Tempe, AZ 85281
$1,400,000
CLOSEDBeds
8
Baths
8
Sqft
Year
1960
Close Date
May 28, 2026
Property Type
Multiple Dwellings
Sub Type
Date Listed
Feb 1, 2026
Description of 508 S Farmer Ave, Tempe, AZ 85281
Listing details for 508 S Farmer Ave, Tempe, AZ 85281 : PRIME REDEVELOPMENT OPPORTUNITY IN DOWNTOWN TEMPE. SURROUNDED BY A COLLECTION OF HIGH-END COMMERCIAL/OFFICE DEVELOPMENTS, A BOUTIQUE HOTEL, AND TRENDY URBAN MULTI USE CONDOMINIUMS, THIS PROPERTY IS ONE OF THE LAST BEST INFILL LOCATIONS AVAILABLE FOR LONG TERM INVESTMENT GROWTH. THE 2 PARCELS ARE ALSO LOCATED IN TEMPE'S TRANSPORTATION OVERLAY DISTRICT, ALLOWING ADDITIONAL DEVELOPMENT OPTIONS NOT FOUND IN OTHER R3 ZONED CITY NEIGHBORHOODS. IN ADDITION, THE EXISTING 8 RENTAL UNITS ARE 100% OCCUPIED OFFERING IMMEDIATE CASH FLOW DURING THE PLANNING PROCESS.
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Listing Updated : 10-23-2026 at 8:15 PM MST
Listing Provided By : Ron Fedri, 602-369-7994, HomeSmart
Properties displayed may be listed or sold by various participants in the MLS
Source :
ARMLS, MLS#: 6978065
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.
Property Details
Property Overview
Listing Price
$1,649,500
MLS #ID
6978065
Close Price
$1,400,000
Close Date
May 28, 2026
Bedrooms
8
Bathrooms
8
Square Footage
Year
1960
Days on Site
269 Days
Property Type
Multiple Dwellings
Property Sub Type
Price per Sq Ft
$0
Date Listed
Feb 1, 2026
Location
Schools
School District
Home Specification
Bedrooms
8
Construction / Architecture
Year Built
1960
Construction Materials
Painted and Block
Roof
Built-Up
New Construction
No
Price per Sq Ft
$0
Lot Dimensions
167.5 X 100
Zoning
R3
Interior Details
Flooring
Other
Fireplace
No
Heating
Heat Pump
Cooling
Ceiling Fan(s), Electric, Heat Pump and Varies by Unit
Exterior Details
Garage
No
Total Parking
8
Parking Features
Off Street, Detached Carport and Add'l Parking Avail
Fencing
None
Water Source
City Franchise
Sewer
Public Sewer and Sewer-In & Connected
Community Features
No Pool
Additional Features
Road Surface Type
Concrete,Gravel
Taxes, HOA & Financing
Annual Property Tax
$3,659.00
HOA Fee Includes
None
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Property History
DateEventPrice
5/28/2026
Sold
$1,400,000 -15.1%
Source:ARMLS #6978065
ARMLS #6978065 4/6/2026
Pending sale
$1,649,500 -5.7%
Source:ARMLS #6978065
ARMLS #6978065 2/1/2026
Listed for sale
$1,749,500
Source:ARMLS #6978065
ARMLS #6978065Location of 508 S Farmer Ave, Tempe, AZ 85281
Streetview of 508 S Farmer Ave, Tempe, AZ 85281
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