1033 S Mariana Street, Tempe, AZ 85281, Tempe, 85281 - 0 bed, 1 bath
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Tempe, AZ 85281
This Fourplex Residential Asset is a Strong Value Opportunity, listed at $750,000—positioned well above the $692,410 Fair Market Value by 8%. While the list price exceeds the current estimate, the property offers a unique Condition Rating of 3 with recent interior renovations, including modern cabinetry and flooring. This turnkey House Hack potential allows an owner to offset mortgage costs via three rental units. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-demand location near ASU.
Property is move-in ready.
Although built in 1962, the property has undergone recent interior renovations including updated grey cabinetry, modern tile backsplashes, and new flooring. The units appear well-maintained and move-in ready, though the use of wall-mounted AC/heat units instead of central HVAC and older appliances prevents an 'Excellent' rating.
The property qualifies for FHA and VA loans, offering a rare opportunity for an owner-occupant to 'house hack' by living in one unit while three others offset the mortgage.
Located in a high-demand Tempe area near ASU with very low inventory, ensuring a consistent tenant pool and strong potential for long-term appreciation.
Meticulously maintained and updated by the current owner, the units feature individual electric meters and updated systems, reducing immediate capital expenditure needs.
Consisting entirely of studio apartments, the property may face higher tenant turnover and a more restricted demographic compared to units with separate bedrooms.
Water and gas are metered together for the entire building, which can complicate expense management and potentially increase owner overhead costs.
Fourplex with 4 studio apartments available as an investment or owner-occupied income producing property! Very few buildings become available in this area, making it a great opportunity to expand your portfolio! This home can qualify with an FHA or VA loan for any owner looking to move in and offset their mortgage costs by renting out the other 3 units! Build equity while reducing your living costs! All 4 units have been meticulously maintained by this owner and updated throughout the years. Each unit has a wall AC/Heat system, Refrigerator and Gas Stove. Water and Gas are metered all together, APS meters each unit separately. Looking to help an ASU student as an alternative to the student housing, while maintaining cash flow? This is a win!
No exterior & parking available.
Grades K-5 • 2.2 mi
Grades PK-5 • 2.4 mi
Grades K-8 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 1.0 | 0.0 |
| Square foot | 1,620 | - |
| Lot Size | 9,212 | - |
| Price | $750.0K | $315.5K |
| Price per sq ft | $463 | $270 |
| Built year | 1962 | 0 |
| HOA | $0 | $0 |
| Days on market | 32 | 2203 |
Jun 20, 2026
$750,000
Initial Listing