1201 S Farmer Ave
- Zoned R-3
- Located in Tempe
- Prime investment opportunity
- Strong potential for multifamily development
- Desirable location for renters
- Proximity to amenities and transportation
Property Description
Seize a rare Urban Infill Opportunity in Tempe's sought-after Farmer Arts District—with immediate access to the Light rail and Tempe Streetcar it is a walkable, thriving neighborhood perfect for ASU Students. It's near the Mill Avenue/Apache Blvd Bend, Tempe Town Lake, and Arizona State University. This lot is ready to build and *fully entitled from the City of Tempe in January 2025 for a proposed 3-Story 4-plex residential apartment project. The plans allow for a 7,315 SF four-plex consisting of 4 THREE BEDROOM UNITS with 12 BEDROOMS TOTAL and COVERED PARKING BELOW.(Illustrations Attached) Located near the valley's most sought-after retail center, residents will enjoy close access to an extensive selection of top retailers. The neighborhood offers a blend of vintage appeal and redevelopment flexibility. Surrounded by record-setting investment activity and continued urban growth, this location is ideal for multi-family residential, office, or mixed-use potential. This is a strategic chance to build, or invest, in one of Tempe's most energized districts.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Land/Development |
| Price: | $595,000 |
| Year Built: | 1960 |
| Lot Size: | 0.20 Acres |
| Opportunity Zone: | No |
| Property Website | Click Here |
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