Homes for sale - 421 W 5TH Street, Tempe, AZ 85281

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Rachel Eberspacher

rachel@rachelazhomes.com +1(480) 206-5873

$900,000

Est. payment - /mo

3 Beds

1 Bath

1,000 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,000 sqft

Price per Sqft $900

Subdivision Orth Subdivision

MLS Listing ID 6862698

Bedrooms 3

HOA Y/N No

Originating Board Arizona Regional Multiple Listing Service (ARMLS)

Year Built 1954

Annual Tax Amount $1,347

Tax Year 2024

Lot Size 8,375 Sqft

Acres 0.19

Property Sub-Type Single Family Residence

Property Description

Calling all investors and builders/developers!! This is a VERY RARE opportunity to own a property just a few blocks away from Mill Ave!! Located on one of the best streets - 5th St! Great R3 zoning! Large 8,300+ sf lot! New construction abounds! Urban infill at its best! - there is a new 50m+ upscale mid-rise project directly across the street that is just being completed! And less than 100 yards to the east is Farmer Ave, where hundreds of millions have been spent on a variety of commercial, multifamily, and mixed used developments, including the new Westin Vib hotel! Only a block to the Tempe Streetcar, which connects to the Light Rail, which is less than 2 min away! Walk to ASU, Mill Ave, Tempe Town Lake and more! This is a GREAT AREA R-3 ZONING, large/deep lot!! Perfect location for new condos/townhomes to build and sell. This is also a Great location to build luxury townhome rentals for students! There are models with 4 bed/5 bath that builders are constructing with huge cash flow and they are much further away from ASU and Mill Ave etc. Zoning should allow for 3 units but check with city as owner/agent makes no guarantees. Imagine the views from the 3rd floor rooftop balconies of the West 5 towers and the Tempe skyline, plus the mountain views!! At 900k that's just 300k per unit land cost (if you build 3 units)!

The home on this property was updated in 2021 when the current buyer purchased it, and it's currently rented for 2,250/mo, it's a mo to mo lease, tenants have been there for since current owner purchased the home. Drive by only, do not disturb the tenants! Thank you!!

5 min to 202 Freeway, 10 min to Sky Harbor Airport, 15 min to downtown Phoenix, and much more!

Location

State AZ

County Maricopa

Community Orth Subdivision

Direction From Mill Ave, take 5th St, go 3 blocks west and the property is the 3rd property on your left past Farmer Ave.

Rooms

Other Rooms Family Room

Den/Bedroom Plus 4

Separate Den/Office Y

Interior

Interior Features Eat-in Kitchen, No Interior Steps

Heating Natural Gas

Cooling Central Air, Ceiling Fan(s)

Flooring Tile

Fireplaces Type None

Fireplace No

Appliance Gas Cooktop

SPA None

Laundry Wshr/Dry HookUp Only

Exterior

Carport Spaces 1

Fence Block, Chain Link

Pool None

Community Features Transportation Svcs, Near Light Rail Stop, Near Bus Stop, Playground, Biking/Walking Path

Amenities Available None

View City Light View(s)

Roof Type Composition

Porch Patio

Private Pool No

Building

Lot Description Alley, Dirt Front, Dirt Back, Gravel/Stone Front, Gravel/Stone Back

Story 1

Builder Name Unknown

Sewer Public Sewer

Water City Water

New Construction No

Schools

Elementary Schools Scales Technology Academy

Middle Schools Geneva Epps Mosley Middle School

High Schools Tempe High School

School District Tempe Union High School District

Others

HOA Fee Include No Fees

Senior Community No

Tax ID 124-33-006

Ownership Fee Simple

Acceptable Financing Cash, Conventional, 1031 Exchange, FHA, VA Loan

Horse Property N

Listing Terms Cash, Conventional, 1031 Exchange, FHA, VA Loan

Special Listing Condition FIRPTA may apply

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Listed by Windermere Real Estate & Property Management

Learn More About LPT Realty

Rachel Eberspacher

+1(480) 206-5873

REALTOR® | License ID: SA669309000

REALTOR® License ID: SA669309000

421 W 5TH Street Tempe, AZ 85281

Rachel Eberspacher

Key Details

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Interior

Exterior

Building

Schools

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421 W 5TH Street