1031 S Farmer Ave Lots 7 & 8, Tempe, AZ 85281 (MLS# 7077345)

1031 S Farmer Ave Lots 7 & 8, Tempe, AZ 85281

$995,000

Property Type: Land Lot Size (sq. ft.): 7,125 Status: Active

Current Price: $995,000 List Date: 9/08/2026 Last Modified: 9/08/2026

Overview

Description

PRIME TEMPE DEVELOPMENT OPPORTUNITY | RARE MULTIFAMILY BUILD SITE NEAR ASU | TWO PARCELS, ENDLESS POTENTIAL A rare opportunity to secure a prime redevelopment site in the heart of Tempe, just minutes from ASU. Located in one of the Valley's most sought-after multifamily submarkets, this offering includes two parcels, 124-70-002 and 124-70-003, with R-3 zoning allowing medium-density multifamily development. Whether you're an investor or developer looking to capitalize on the area's strong student-housing demand and proximity to ASU, this site offers an opportunity to bring your vision to life. Purchase both parcels together or separately, providing flexibility to suit your development strategy. Opportunities of this scale and proximity to ASU are rare to find.

Listing Details MLS# 7077345

Location, Tax & Legal

House Number: 1031
Compass: S
Street Name: Farmer Ave Lots 7 &
St Suffix: --
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 5501
Country: US
County Code: Maricopa
Assessor Number: 124-70-003
Subdivision: FARMERS ADDITION BLOCKS 1-2 PART 3 LOTS 1-5
Tax Year: 2025

Contract Information

For Sale or Lease?: Sale
Type: Exclusive Right To Sell

General Property Description

Apx Total Acres: 0.16
Apx Total Acres G/N: G
Price Per Acre: 6218750
Apx SqFt: 7125
Price Per SqFt: 139.65
Apx SqFt G/N: G
Lot Size Dimensions: 142.5'x100'
Zoning: R-3
High School District: Tempe Union High School District

Remarks Misc

Cross Street: S Farmer Ave & 10th St

Legal Info

Township: 1N
Range: 4E
Section: 21
Lot Number: 8

Showing Notification Methods

Showing Service: Aligned Showings

More Information

Property Features

Special Listing Cond: N/A Existing Land Use: Other (See Rmks) Zoned Presently: Single Family; Multi-Family; Other (See Rmks) Potential Use: Single Family; Multi-Family; Other; See Remarks Parcel Size: .25 - .49 Acres Development Status: Raw Land Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: None Distance to Cable: Call Listing Office Distance to Phone: Call Listing Office Distance to Water: Call Listing Office Distance to Electric: Call Listing Office Distance to Gas: Call Listing Office Distance to Sewer: Call Listing Office New Financing: Cash; Conventional Environmental: None Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None

Listing Office: eXp Realty

Last Updated: September - 08 - 2026

1031 S Farmer Ave Lots 7 & 8, Tempe, AZ 85281 (MLS# 7077345)