
Tempe, AZ 85288
This Turnkey Development Opportunity is a versatile Hybrid Asset listed at $399,000, currently positioned at a premium relative to the $366,287 Fair Market Value. The property boasts an Excellent Condition Rating following a comprehensive 2021 Interior Remodel featuring all-new flooring, kitchen cabinetry, and appliances. Its standout value is the rare R-2 Zoning on an expansive 7,610 sqft Lot, offering immediate potential to add a rental unit with permits already in place. Located in North Tempe, it is perfectly suited for Buy-and-Hold Investors or Owner-Occupants seeking a move-in-ready home with significant long-term development upside.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 933 E HARRY Street Subject | $398,000* List Price | 2 | 1 | 900 | $442 | - |
A 708 E TAYLOR Street Sold | $431,000 List Price | 3 | 2 | 1,129 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property underwent a complete interior renovation in 2021, which is within the 5-year threshold for extensive renovations. The updates include all-new flooring, kitchen cabinets, countertops, appliances, plumbing, and bathroom fixtures, ensuring all components meet current quality standards with no deferred maintenance.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7610, living area = 900.
The rare R-2 zoning on a large 7,610 sqft lot provides a significant value-add opportunity to build an additional rental unit or expand the existing structure with permits already in place.
Completely remodeled in 2021, the home features all-new flooring, kitchen cabinets, countertops, plumbing, and appliances, ensuring a turnkey experience for the next owner.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 900, other record living area = 832.
The 'drive-by only' restriction and presence of tenants prevent immediate interior inspections, which increases the initial risk and complicates the due diligence process for buyers.
At only 900 square feet with a single bathroom, the current footprint is relatively small, which may limit appeal for families or buyers not looking to undergo immediate expansion.
Do NOT disturb tenants, drive-by Only! Looking for updated, like-new home that's in move-in condition? Or a great investment opportunity? Look no further! This beautiful home was upgraded/remodeled by the city of Tempe in 1990 as part of their community plan, and then Completely updated by current owner in 2021! HUGE LOT, with rare R-2 ZONING! PLENTY of land and adequate zoning to add a rental property!! PLUS, opportunity to add more sf to the existing homes to increase value etc., and seller has plans with permits ready to go, buyer to verify all with city of Tempe. 2021 updating/Interior: all new flooring, kitchen cabinets/countertops, plumbing, bathroom, light fixtures and ceiling fans, doors, baseboards, paint, blinds, hardware; kitchen appliances and more
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 18% |
| Baths | 1.0 | 2.0 | 18% |
| Square foot | 900 | 1,374 | 24% |
| Lot Size | 7,610 | 6,787 | 53% |
| Price | $398.0K | $408.0K | 47% |
| Price per sq ft | $442 | $325 | 82% |
| Built year | 1990 | 1961 | 94% |
| HOA | $0 | $0 | 50% |
| Days on market | 42 | 1985 | 6% |
Apr 19, 2026
$398,000
$399,000
+0% Price Increase
Initial Listing
Mar 11, 2026
$399,000
Initial Listing