1253 W SOUTHERN Avenue, Tempe, AZ 85282
$975,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$975,000
Last Modified:
3/18/2026
Overview
Description
INCREDIBLE INVESTOR OPPORTUNITY -- RARE 4-PLEX IN TEMPE WITH A 9.08% CAP RATE! This high-performing multi-family asset is located just minutes from Arizona State University (ASU), Tempe Town Lake, major employment corridors, and Phoenix Sky Harbor International Airport. Properties in this pocket remain in constant demand, offering extremely low vacancy rates and consistent rental strength year-round. Fully leased and cash-flowing from day one, this 4-plex delivers one of the highest cap rates available in Tempe for a property of its kind--9.08%. Strong tenant base, stable rent rolls, and immediate income make this an ideal acquisition for buy-and-hold investors, 1031 buyers, or portfolio builders seeking reliable returns. Opportunities with this level of return in Tempe are extremely rare!
Listing Details MLS# 6973787
Location, Tax & Legal
- House Number
- 1253
- Compass
- W
- Street Name
- SOUTHERN
- St Suffix
- Avenue
- City/Town Code
- Tempe
- State/Province
- AZ
- Zip Code
- 85282
- Zip4
- 4521
- County Code
- Maricopa
- Subdivision
- WESTWAY PARK
- Assessor Number
- 123-42-063
- Tax Year
- 2025
- Assessor's Map #
- 42
- Legal Description (Abbrev)
- WESTWAY PARK
- Assessor's Parcel #
- 63
- Add'l Parcels
- No
- Tax Municipality
- Tempe
- Census Tract
- 319705
- Taxes
- 2670
- Legal
- WESTWAY PARK
- Marketing Name
- WESTWAY PARK
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 7,206
- Year Built
- 1970
- Uncvrd Parking Spcs
- 4
- Total # of Units
- 4
- # of Buildings
- 4
- Zoning
- R-3R
- Flood Zone
- No
- Elementary School District
- Tempe School District
- High School District
- Tempe Union High School District
- Elementary School
- Carminati School
- Jr. High School
- Connolly Middle School
- High School
- Tempe High School
Remarks Misc
- Cross Street
- Southern & Priest
- Directions
- From Priest, east on Southern, the property is right on the corner of Margo and Southern.
Legal Info
- Township
- 1N
- Range
- 4E
- Section
- 33
Income Expenses
- Net Operating Income
- 88560
More Information
Showing Notification Methods
- Showing Service
- Non-MLS Showing Service - See Private Remarks
2 Bedroom Units
- # 2 Bedroom Units
- 4
- Avg SqFt
- 750
- Avg Rent
- 0
Project Type
- Four Plex
- Yes
Construction
- Block
- Yes
Const - Finish
- Painted
- Yes
Roofing
- Foam
- Yes
Floors
- Vinyl
- Yes
- Carpet
- Yes
Sale Includes
- Laundry Equipment
- Yes
Income & Expenses
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Operating Exp
- 2670
- Other Income
- 0
- Vacancy Allowance
- 0
- Adjusted Gross Inc
- 0
- Total Monthly Rental Income
- 7380
Pmt & Rate Info
- Cap Rate
- 9.08
- Equity
- 975000
- Down Payment %
- 0
- Monthly Payments
- 0
- Total Owed
- 0
Lockbox Type
- None
- Yes
Community Features
- No Pool
- Yes
Heating
- Central
- Yes
Cooling
- Heat Pump
- Yes
Tenant Pays
- Electricity
- Yes
- Cable TV
- Yes
Appliances Included
- Dishwasher
- Yes
- Built-In Range
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Owner
- Yes
Water Source
- City Franchise
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- Carport
- Yes
Electric
- SRP
- Yes
Gas
- None
- Yes
Owner Pays
- Water
- Yes
- Trash Collection
- Yes
New Financing
- Cash
- Yes
- VA
- Yes
- Conventional
- Yes
- FHA
- Yes
- No Carry
- Yes
Reports/Disclosures
- None
- Yes
Environmental
- None
- Yes
Efficiency Units
- Avg Rent
- 0
1 Bedroom Units
- Avg Rent
- 0
3 Bedrooms Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
Property Features
Project Type:
Four Plex
Construction:
Block
Const - Finish:
Painted
Roofing:
Foam
Floors:
Vinyl; Carpet
Sale Includes:
Laundry Equipment
Community Features:
No Pool
Appliances Included:
Built-In Range; Dishwasher
Heating:
Central
Cooling:
Heat Pump
Water Source:
City Franchise
Sewer:
Sewer - Public
Electric:
SRP
Gas:
None
Parking Features:
Carport
Road Surface Type:
Asphalt
Owner Pays:
Water; Trash Collection
Tenant Pays:
Electricity; Cable TV
Source of Fincl Data:
Owner
Lockbox Type:
None
New Financing:
Cash; VA; FHA; Conventional; No Carry
Environmental:
None
Listing Office:
Realty ONE Group
Last Updated: March - 18 - 2026
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