1281 E HERMOSA Drive, Tempe, AZ 85282, Tempe, 85282 - 6 bed, 3 bath
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Tempe, AZ 85282
This High-Yield Rental Asset is listed at $599,000, representing a stable entry point at its $599,000 Fair Market Value with $0 in Instant Equity. Optimized for high-occupancy demand near ASU, the rare 6-bedroom, 3-bathroom layout features a Condition Rating of 3 with upgrades including a newer roof, dual-zone AC, and a private pool. With a secured lease through July 2026 and proximity to Hudson Elementary, the property offers a stable ROI. This is a strategic acquisition for Buy-and-Hold Investors or Student Housing Specialists.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1281 E HERMOSA Drive Subject | $599,000* List Price | 6 | 3 | 2,302 | $260 | - |
A 429 E GREENWAY Drive Sold | $689,000 List Price | 6 | 2 | 2,790 | 0.8 mi | |
B 4526 S Terrace Road Sold | $525,000 | 4 | 2 | 1,732 | $303 | 0.3 mi |
C 506 E ELLIS Drive Sold | $675,000 | 4 | 2 | 2,274 | $297 | 0.9 mi |
D 1502 E MINTON Drive Sold | $555,000 | 4 | 2 | 2,083 | $266 | 0.4 mi |
E 1502 E MINTON Drive Sold | $555,000 | 4 | 2 | 2,083 | $266 | 0.4 mi |
F 1266 E LA JOLLA Drive Active | $689,500 List Price | 5 | 2 | 2,199 | $314 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1965, the property is move-in ready and has undergone significant updates including a newer roof, dual-zone AC units, and consistent tile flooring throughout. The bathrooms feature modern tile surrounds and updated fixtures, and the overall interior condition reflects well-maintained systems and finishes suitable for immediate occupancy.
The rare six-bedroom, three-bathroom layout is specifically optimized for high-occupancy rental demand, making it an ideal asset for student housing near ASU.
With a lease already secured through July 2026, this property offers investors guaranteed income and zero vacancy risk from day one of ownership.
The inclusion of a newer roof, dual-zone AC units, and carpet-free flooring minimizes capital expenditure and simplifies the turnover process between tenants.
The long-term lease agreement through mid-2026 prevents traditional buyers from occupying the home as a primary residence for nearly two years.
Built in 1965, the property may require more frequent maintenance of original underlying systems, such as plumbing or electrical, compared to newer builds.
Amazing opportunity for investors. 6 Bedroom 3 Bath home in Tempe with lease in place through 7/31/2026. Have a student at ASU? Looking for a good investment property? This is it. Rare 6 bed, 3 Full bath home with a pool in a great location in Tempe. Plenty of parking and tons of upgrades. No carpet for easy turnovers, lots of upgrades including a newer roof and 2 AC units for separate zones in the house. These don't come up often, don't miss the opportunity!
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades 6-8 • 1.6 mi
Grades 9-12 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 6.0 | 3.0 | 98% |
| Baths | 3.0 | 2.0 | 90% |
| Square foot | 2,302 | 1,763.5 | 87% |
| Lot Size | 7,775 | 8,355 | 31% |
| Price | $599.0K | $404.5K | 86% |
| Price per sq ft | $260 | $251 | 52% |
| Built year | 1965 | 1969 | 30% |
| HOA | $0 | $0 | 50% |
| Days on market | 247 | 2155 | 22% |
Aug 18, 2025
$599,000
Initial Listing