914 S FARMER Avenue, Tempe, AZ 85281, Tempe, 85281 - 2 bed, 1 bath
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Tempe, AZ 85281
Analysis of 914 S FARMER Avenue, Tempe, AZ 85281 is currently available with a list price of $1,395,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the Tempe Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is land value only, full reconstruction required.
The property is marketed strictly as a development opportunity for multi-family housing, with the listing focusing on R-3 zoning and architectural plans for a new 9-unit project. Built in 1945, the existing 590 sqft structure is obsolete; no photos of the current interior or exterior are provided, only renderings of the proposed redevelopment, indicating the value is entirely in the land.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10000, living area = 590.
The property is zoned R-3 for multi-family development, offering a rare opportunity to capitalize on Tempe's high demand for increased housing density.
The sale includes existing plans and drawings for a 9-unit single-family home project across two lots, significantly reducing the lead time and soft costs for an investor.
The high list price is based on land value and development potential rather than the existing 1945 structure, requiring a sophisticated buyer with significant capital.
The assigned elementary, middle, and high schools all carry low ratings (3/10), which may be a deterrent for future residents or families looking to purchase the finished units.
Fantastic investor opportunity in one of the most desirable areas of Tempe! This property is zoned R-3 for multi-family development. This lot is being sold in combination of 915 S Wilson (mls 7005734) Plans and drawings available for 9 SFH on the 2 lots. A quick drive around the neighborhood and you'll see all of the new multifamily developments being built. Be a part of the changing landscape and capitalize on a lucrative opportunity. Buyer to verify all facts
No exterior & parking available.
Grades PK-5 • 1.1 mi
Grades 6-8 • 0.6 mi
Grades 9-12 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 13% |
| Baths | 1.0 | 2.0 | 13% |
| Square foot | 590 | 1,548 | 3% |
| Lot Size | 10,000 | 7,355 | 83% |
| Price | $1.40M | $266.0K | 97% |
| Price per sq ft | $2.4K | $186 | 97% |
| Built year | 1945 | 1958 | 7% |
| HOA | $0 | $0 | 50% |
| Days on market | 24 | 2129 | 3% |
Mar 29, 2026
$1,395,000
Initial Listing