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$1,749,500 Just Listed

  • For Sale
  • Active
  • Multi-Family
  • Updated 1 hour ago
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Prime Opportunity To Participate in Tempe's Downtown Renaissance. Surrounded By A Collection Of High-End Commercial/Office Developments, A Boutique Hotel, and Trendy Urban Multi Use Condominiums, This Property Is One Of The Best Locations For Long Term Investment Growth. The Parcels Are Also Located in Tempe's Transportation Overlay District Which Adds A Whole Other Layer Of Development Potential Not Found Elsewhere. in Addition, The Existing 8 Rental Units Are 100% Occupied Offering Immediate Cash Flow.

Full Property Details for 508 S Farmer Ave

General

  • Price: $1,749,500
  • Taxes: $3,659 (2024)
  • Status: Active
  • Type: Multi-Family
  • Source: ARMLS_Arizona_MLS_Phoenix_Area
  • MLS ID: 6978065
  • Updated: Today (2/1/2026)
  • Added to Site: Today

Interior

  • Appliances: Refrigerator, Free-Standing Gas Oven
  • Flooring: Other

Parking

  • Parking Features: Off Street, Detached Carport, Add'l Parking Avail

Location

  • County: Maricopa
  • Township: 1N
  • Subdivision: ORTH SUB
  • Cross Streets: 5TH ST AND FARMER

Heating & Cooling

  • Air Conditioning: Yes
  • Cooling Type: Ceiling Fan(s), Electric, Heat Pump, Individual
  • Heating Type: Heat Pump

Utilities

  • Water: City Franchise

Structural Information

  • # Buildings: 2
  • Exterior Const.: Painted, Block
  • Roof: Built-Up
  • Year Built: 1960

Unit Information

  • Vacancy %: .02

Lot Features

  • Lot Dimensions: 167.5 x 100
  • Frontage: Concrete, Gravel
  • Zoning: R3

Financial Considerations

  • Tax Amount: $3,659
  • Tax Year: 2024
  • Terms: Owner May Carry
  • Owner Pays: Other

Disclosures and Reports

  • Multiple Parcels: Yes
  • Legal Description: ORTH SUB S2 LOTS 1 & 2 BLK 1
  • Property ID: 124-33-002-A
  • Range: 4E
  • Section: 16
  • Lot Number: 1

Listed by HomeSmart

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— 508 S Farmer Ave —

  • HomeSmart

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NMLS#: 1598647

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Be ready to buy your new home!

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NMLS#: 1598647

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Schools serving 508 S Farmer Ave

School Districts:Tempe School District, Tempe Union High School District
NameGradesDistance
Scales Technology Academy
1115 West 5th Street, Tempe, AZ 85281
K-50.6 mi
Geneva Epps Mosley Middle School
1025 South Beck Avenue, Tempe, AZ 85281
6-80.8 mi
Tempe High School
1730 S Mill Ave, Tempe, AZ 85281
9-121.1 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 508 S Farmer Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
2/01/2026
Listed
$1,749,500
894.03%
MLS
1/02/2013
Sold
$176,000
—
Public Record
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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 508 S Farmer Ave

Year
Property Taxes
Change
Tax Assessment
Change
2025
$1,956
7%
$65,550
6%
2024
$1,828
1%
$61,700
1%
2023
$1,806
4%
$61,160
12%
2022
$1,733
—
$54,470
30%
2022
$1,733
-1%
$41,960
22%
2021
$1,745
3%
$34,300
14%
2020
$1,692
2%
$30,130
17%
2019
$1,660
3%
$25,800
35%
2018
$1,619
3%
$19,180
7%
2017
$1,570
1%
$17,850
10%
2016
$1,559
4%
$16,160
-1%
2015
$1,498
-11%
$16,320
17%
2014
$1,686
32%
$13,920
56%
2013
$1,282
—
$8,950
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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508 S Farmer Avenue, Tempe, AZ 85281 (MLS# 6978065) is a Multi-Family property with 8 units containing 0 bedrooms and 0 full bathrooms. 508 S Farmer Avenue is currently listed for $1,749,500 and was received on February 01, 2026. Want to learn more about 508 S Farmer Avenue? Do you have questions about finding other Multi-Family real estate for sale in Tempe? You can browse all Tempe real estate or contact a Coldwell Banker agent to request more information.

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