# 1027 S FARMER Avenue #7, Tempe, AZ 85281

> **TL;DR:** land, $495,000. Est. $2,647/mo. Listed 53 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $495,000 |
| Lot Size | 7,126 sqft (0.16 acres) |
| Property Type | Land (Other) |
| Status | Active |
| Days on Market | 53 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Principal & Interest (20% down, 30-year at 6.5%) | $2,503 |
| Estimated Insurance | $144 |
| **Total** | **$2,647** |

## Property Highlights

- 0.16 acre lot

## Description

### Agent Description
PRIME TEMPE DEVELOPMENT OPPORTUNITY | RARE MULTIFAMILY BUILD SITE NEAR ASU | TWO PARCELS, ENDLESS POTENTIAL This parcel may be purchased individually or together with the adjacent parcel 124-70-003, offering the opportunity for a larger redevelopment site. See MLS #7077345 for the adjacent parcel. A rare opportunity to secure a prime redevelopment site in the heart of Tempe, just minutes from ASU. Located in one of the Valley's most sought-after multifamily submarkets, with R-3 zoning allowing medium-density multifamily development. Whether you're an investor or developer looking to capitalize on the area's strong student-housing demand and proximity to ASU, this site offers an opportunity to bring your vision to life. Opportunities of this scale and proximity to ASU are rare to find

## Location

- **Address:** 1027 S FARMER Avenue #7, Tempe, AZ 85281
- **County:** Maricopa
- **Neighborhood:** FARMERS ADDITION BLOCKS 1-2 PART 3 LOTS 1-5
- **Coordinates:** 33.417917, -111.943889
- **Google Maps:** https://www.google.com/maps?q=33.417917,-111.943889

## Listing Agent

- **Name:** Katherine R Ortmeier
- **Brokerage:** eXp Realty, LLC
- **Broker Phone:** (602) 525-3224
- **Listing URL:** [View original listing](https://www.realtor.com/realestateandhomes-detail/1027-S-Farmer-Ave-Lot-7_Tempe_AZ_85281_M92909-25513?f=listhub&s=ARMLSAZ&m=7077357&c=propsimple)

## Photos

![1027 S FARMER Avenue #7 - Photo 1](http://lh.rdcpix.com/c93b9c3f833e6f152a8173ccf149ef2fl-f25063698r.jpg)

![1027 S FARMER Avenue #7 - Photo 2](http://lh.rdcpix.com/c93b9c3f833e6f152a8173ccf149ef2fl-f2721161744r.jpg)

![1027 S FARMER Avenue #7 - Photo 3](http://lh.rdcpix.com/c93b9c3f833e6f152a8173ccf149ef2fl-f4227784616r.jpg)

---

**MLS#:** 7077357 | **Updated:** 2026-10-20
**Source:** listhub

*Copyright © 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.ai/listing/1027-s-farmer-avenue-tempe-az-85281-58121d0a747f4a619c6ec8c0bf2d0cf7)

---

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