115 W 10th St
- Prime location within walking distance to Arizona State University and approximately 1,200 feet from ASU Gammage Auditorium
- Four spacious units (3,760 SF total), each 940 SF with highly desirable two-bedroom floor plans
- Three 2 Bed / 1 Bath units and one 2 Bed / 2 Bath unit
- Individually metered electric (APS), reducing owner utility exposure
- Updated interiors featuring modern kitchens, in-unit washer/dryer, covered patios, and private fenced yards
- Exceptional parking ratio with 16 total spaces (4 covered carports + 12 uncovered)
- Situated on approximately 15,182 SF of infill land in a supply-constrained university corridor
- Zoned R-2 (Multi-Family), offering long-term flexibility and redevelopment potential (subject to City approval)
- Strong, renewable tenant demand driven by ASU students, faculty, university staff, and Airbnb
- Rare opportunity to acquire a small-scale multifamily asset combining stabilized income, land value, and walkable university proximity
Property Description
Just steps from Arizona State University, Tenth and Ash Place presents a rare opportunity to acquire a well-positioned four-unit multifamily asset in the immediate ASU corridor. Properties within true walking distance to campus seldom become available, making this offering particularly compelling for investors seeking both stable income and long-term appreciation. Built on approximately 15,182 square feet of land and zoned R-2 (Multi-Family) with 16 total parking spaces, including four covered carports, the property offers meaningful value and long-term flexibility. Forth and Ash Place consists of four 940-square-foot units, including three 2-bedroom/1-bath layouts and one 2-bedroom/2-bath unit. Each residence features updated kitchens with modern appliances, in-unit washer and dryer, covered patios, and private fenced yard areas—amenities that differentiate the property from larger apartment communities and consistently attract strong tenant interest from students, faculty, and university staff. Situated approximately 1,200 feet from ASU Gammage and within walking distance to multiple campus facilities, the location supports durable leasing demand year-round. Residents also enjoy immediate access to the Mill Avenue District, Tempe Town Lake, and a wide array of dining, retail, and entertainment options. Convenient connectivity to Scottsdale, Downtown Phoenix, and Sky Harbor Airport further enhances the property’s appeal. Whether positioned as a stabilized income property, a strategic long-term hold, or a future redevelopment opportunity (subject to city approval), this offering combines walkability, land value, and scarcity in one of Tempe’s most resilient rental submarkets.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $2,450,000 |
| No. of Units: | 4 |
| Year Built: | 1977 |
| Lot Size: | 0.35 Acres |
| Opportunity Zone: | No |
| Price per unit: | $612,500 |
| Property Website | Click Here |
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