# 1031 S Farmer Ave Lots 7 & #8, Tempe, AZ 85281

> **TL;DR:** land, $995,000. Est. $5,321/mo. Listed 52 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $995,000 |
| Lot Size | 7,126 sqft (0.16 acres) |
| Property Type | Land (Other) |
| Status | Active |
| Days on Market | 52 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Principal & Interest (20% down, 30-year at 6.5%) | $5,031 |
| Estimated Insurance | $290 |
| **Total** | **$5,321** |

## Property Highlights

- 0.16 acre lot

## Description

### Agent Description
PRIME TEMPE DEVELOPMENT OPPORTUNITY | RARE MULTIFAMILY BUILD SITE NEAR ASU | TWO PARCELS, ENDLESS POTENTIAL 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, this offering includes two parcels, 124-70-002 and 124-70-003, 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. Purchase both parcels together or separately, providing flexibility to suit your development strategy. Opportunities of this scale and proximity to ASU are rare to find.

## Location

- **Address:** 1031 S Farmer Ave Lots 7 & #8, Tempe, AZ 85281
- **County:** Maricopa
- **Neighborhood:** FARMERS ADDITION BLOCKS 1-2 PART 3 LOTS 1-5
- **Coordinates:** 33.417768, -111.943873
- **Google Maps:** https://www.google.com/maps?q=33.417768,-111.943873

## 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/1031-S-Farmer-Ave-Unit-8_Tempe_AZ_85281_M98892-54096?f=listhub&s=ARMLSAZ&m=7077345&c=propsimple)

## Photos

![1031 S Farmer Ave Lots 7 & #8 - Photo 1](http://lh.rdcpix.com/2833619f5df6f8450c4cb57dac10875dl-f1851302143r.jpg)

![1031 S Farmer Ave Lots 7 & #8 - Photo 2](http://lh.rdcpix.com/2833619f5df6f8450c4cb57dac10875dl-f3598162711r.jpg)

![1031 S Farmer Ave Lots 7 & #8 - Photo 3](http://lh.rdcpix.com/2833619f5df6f8450c4cb57dac10875dl-f4227784616r.jpg)

![1031 S Farmer Ave Lots 7 & #8 - Photo 4](http://lh.rdcpix.com/2833619f5df6f8450c4cb57dac10875dl-f3851227335r.jpg)

---

**MLS#:** 7077345 | **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/1031-s-farmer-ave-lots-7-tempe-az-85281-75b105c2411348e98ef514bbcf9dda89)

---

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