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. 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 opportunity.
Listed by:
Realty ONE Group
Listing provided courtesy of Arizona Regional Multiple Listing Service, Inc. (ARMLS)| Date | Days Ago | Event | New Price |
|---|---|---|---|
| Apr 7, 2026 | 2 mos ago | Price decreased5,000 (1%) | $930,000 |
| Mar 16, 2026 | 3 mos ago | Price decreased5,000 (1%) | $935,000 |
| Feb 20, 2026 | 3 mos ago | Price decreased10,000 (1%) | $940,000 |
| Jan 1, 2026 | 5 mos ago | Price decreased15,000 (2%) | $950,000 |
| Nov 4, 2025 | 7 mos ago | Price decreased10,000 (1%) | $965,000 |
| Aug 18, 2025 | 10 mos ago | Price decreased20,000 (2%) | $975,000 |
| Jul 22, 2025 | 11 mos ago | Price decreased5,000 (1%) | $995,000 |
| Jul 11, 2025 | 11 mos ago | New on market | $1,000,000 |