Listing provided courtesy of Realty ONE Group- MLS# 6950797
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1229 E Spence AvenueTempe, AZ 85281
Multi-Family$1,375,000
Active
1229 E Spence Avenue Overview
- Time on Site:
- 219 days
- Visits:
- 0
Rare opportunity to purchase a R-4 (High Density) zoned multi family land and homes with frontage on Spence Ave in the heart of ASU campus. Listing included two residential houses, next to each out, zoned for high density multifamily. Nestled in a robust infill Arizona State location, this property is a beacon for savvy investors seeking unparalleled opportunities. Walk to Campus. Unmatched demographics include over 350,000 population count within a five-mile radius. Parcel numbers 133-09-045 and 133-09-055 **Buyer to verify all facts, figures, schools & measurements**
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1229 E Spence Avenue Facts & Features
- Type Multi-Family
Details
General
Income/Expenses
- Operating Expense: 1450.0
Building Information
- Year Built: 1940
Location/Region
- Country: US
- County Or Parish: Maricopa
- Postal City: Tempe
- Subdivision Name: STANLEY PLAT & KENNETH PLACE
Community/Development
- Community Features: See Remarks,No Pool
Tax Information
- Tax Annual Amount: $1,450.00
- Tax Year: 2025
General Information
- Disclosures: None
- Ownership: Fee Simple
- Parcel Number: 133-09-045
- Property Type: Multiple Dwellings
- Zoning: R-4
Interior
Beds/Baths
- Bathrooms Total: 0
General Information
- Cooling: See Remarks
- Electric: Other (See Remarks)
- Flooring: Concrete
- Heating: See Remarks
Exterior
Parking Information
- Open Parking Spaces: 2.0
- Parking Features: Paved,Free,1 Space/Unit
Lot Information
- Additional Parcels: true
- Lot Size Dimensions: Irregual
- Number Of Buildings: 2
- Road Surface Type: Asphalt
- Water Source: See Remarks
Building Exterior/Construction
- Attached Garage: false
- Construction Materials: Wood Frame,Painted
- Roof: Composition
General Information
- Covered Spaces: 1.0
- Number Of Units Total: 2
- Sewer: See Remarks
1229 E Spence Avenue Neighborhood
Community
85281 (Tempe) Demographics
25
Median Age
5,130
Population Density (per sq. mile)
50%
College Educated
$42,545
Estimated Median Income
5,503
Estimated Total Home Owners
20,386
Estimated Total Renters
21% / 79%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Schools
School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.1229 E Spence Avenue Monthly Cost
1229 E Spence Avenue Market Data
Based on the last 30 days in this zip code
$566,243
Average List Price
$387
Average Price per Square Foot
18
Properties Sold
80
Average Days on Market
149
Properties for Sale
1229 E Spence Avenue History
| Date | Value | Agent |
|---|---|---|
| 6/25/2026Source: ARMLS - Greater Phoenix Area, Casa Grande, and Sierra Vista Area | $1,375,000 -5.2% |
|
| 2/15/2026Source: ARMLS - Greater Phoenix Area, Casa Grande, and Sierra Vista Area | $1,450,000 -9.4% |
|
| 11/23/2025Source: ARMLS - Greater Phoenix Area, Casa Grande, and Sierra Vista Area | $1,600,000 900.0% |
|
| 11/23/2025Source: ARMLS - Greater Phoenix Area, Casa Grande, and Sierra Vista Area | November 23, 2025 |