Tempe, AZ Homes for Sale
$749,999
6 Beds 8 Baths 7057410 MLS
Attention aspiring SHORT TERM RENTAL owners!! This is an amazing opportunity to turn a profit and own an investment property. Numbers for only ONE side of the duplex provide a $39K revenue. To help ease the new owners worries there are new roofs on both sides, new AC unit on one side, new water heater on one side, both units come with W/D, refrigerators and blinds. This Is a prime Tempe investment opportunity! This beautifully updated duplex is located in one of the Valley's strongest rental markets, just minutes from Arizona State University, Sky Harbor International Airport, Downtown Tempe, Tempe Town Lake, and major employment hubs. With easy access to Loop 202, SR-143, and I-10, this is an ideal location for attracting long and short-term tenants. Each unit offers a modern, open-concept layout with designer finishes, granite countertops, stainless steel appliances, wood-look tile flooring, spacious bedrooms, private patios, and low-maintenance outdoor space. All features that help attract and retain quality tenants. The property has demonstrated strong rental demand and offers an excellent opportunity for investors seeking immediate income with long-term appreciation potential. Whether you're looking to expand your portfolio, complete a 1031 exchange, or live in one unit while generating rental income from the other, this property checks all the boxes. Opportunities to own a well-maintained duplex in this highly sought-after Tempe location are few and far between. Don't miss your chance to own an income-producing asset in one of Arizona's most consistently desirable rental markets.

421 S Terry Lane, Tempe

Courtesy of Realty ONE Group. 480-321-8100

$470,000
6761938 MLS
Excellent investment opportunity, this Duplex is located in the highly sought after area of Tempe North (South Scottsdale), which is an up and coming, high growth area of N Tempe. Both units are 2 bedrooms,1 bath, carport with private storage areas, both have units have fenced yards. Zoning is desirable R-2! Stated rents ($1,250/mo. per unit) and current market comps are $1,300-1,600/mo. per unit, but landlord hasn't raised rents to market value as tenants have been there over a decade, so current rents are well below market comps; buyer to verify all facts and figures. Tenants have been on a month-to-month rental basis for over a decade. Separate electric meters for each unit. Owner will consider a Seller-Carry with 30% down for 3 years. Well maintained, remodeled just over a decade ago with low E windows, Trane ACs, roof, underground cast iron plumbing replaced, and more. 2018: - roof was completely redone. 2024 Improvements: Aug - entire roof was recoated with Elastomeric. Sept - new Trane AC, front unit #1. Dec - new interior paint including cabinets, all new door hardware/hinges, bathroom hardware (Brushed Nickel), lighting, rear door. Exterior painting. There is potential opportunity to add more sf to increase rents etc., on unit #2, buyer to verify with city of Tempe. Multiple comps in area around 500k and this property might be better as it's located on Weber Dr. with beautiful 3 story newer homes located across the street! COMPS - 4 duplexes have sold in the Immediate area in the last 18 months: 1124 E TEMPE DR, Tempe, MLS #6570114, $475,000 930 E HENRY ST, Tempe, MLS# 6457594, $519,000 1019 N HAROLD ST, Tempe, MLS #6529794, $545,000 1010 E HENRY ST, Tempe, MLS #6547427, $ 599,000 LOTS of new construction and rehabs abound. Location, Location, Location: less than a mile to 202/101/Tempe Town Lake/ASU and more; just blocks to mass transit, less than 4 miles to: Phoenix Sky Harbor Airport; 2 mi to Old Town Scottsdale and more!

1127 E Weber Drive, Tempe

Courtesy of Windermere Real Estate & Property Management. 602-319-5363 Selling Office: HomeSmart.

$485,000
6634148 MLS
Investors DREAM property!! Location, Location, Location!! RARE R2 Zoning!! So, you can add a ADU per code for additional income if you want! Current tenants are renting the main house (west 3/4 of the of the home) and the adjacent studio apartment (east 1/4 of the home) for $2k/mo, which is slightly below the market rate. Current tenants' relative lives in the studio (which currently has no bathroom, so they use the main home bathroom) and that's why it is listed as a 4 bed/1 bath. LESS than a mile to Hwy 202 & Tempe Town Lake! A GREAT BUY & HOLD INVESTMENT to collect cashflow and to be in a HIGH GROWTH area! Highest and best use is to: add a bathroom to the east side studio (see captions on photos for info) and then rent the main house (est $1.8k/mo) and the studio separately (est $ 1k/mo) and/or build a separate rental property in the backyard, check with City for full info. Home was cosmetically remodeled in Jan 2021. Home is the first home on the North side of Weber Dr off Scottsdale Rd., directly next to the convenience store with the newer Best Western Hotel located directly behind the home. Tax records indicate the hotel recently sold for $20m in Nov 2023; and the tax value for the apartment complex to be around $100m; and the Del Taco across from this property sold for nearly $4m in 2022; etc. Drive by ONLY - do NOT disturb the tenants, thank you.

912 E Weber Drive, Tempe

Courtesy of Windermere Real Estate & Property Management. 602-319-5363 Selling Office: West USA Realty.

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Duplex for Sale in Tempe, AZ