For Sale Multi-Family MLS# 7057410

421 S TERRY Lane

Tempe, AZ 85281

$749,999

About 421 S TERRY Lane

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.

Property details

Property

Type
multi
MLS type
Multi Family Home
Status
Active
Year built
1985
Original price
$769,999
MLS #
7057410

Interior

Features
Central Air, Electric, Carpet, Ceramic Tile
Flooring
Carpet, Ceramic Tile
Heating
Electric
Cooling
Central Air

Exterior & lot

Features
Paved, Assigned, >1 Space Per Unit, Parking spaces: 8
Construction
Wood Frame, Painted, Stucco, Tile, Built-Up
Roof
Tile, Built-Up
Lot
R-3, 12429001K
Parking
Paved, Assigned, >1 Space Per Unit

Schools

District
Tempe School District
Elementary
Scales Technology Academy
Middle
Geneva Epps Mosley Middle School
High
Tempe High School

Utilities

Utilities
Public Sewer, City Franchise
Water
City Franchise
Sewer
Public Sewer

Financial

Financial
Arizona Regional Multiple Listing Service 2
Annual tax
$1,729
Tax year
2025
Parcel
12429001K

Location

Subdivision
MERCADO HOMES
County
Maricopa
Neighborhood
Sunset
Community
Maricopa, Asphalt, Arizona Regional Multiple Listing Service 2, Tempe School District
Directions
From Loop 202, exit south on Priest Dr. Turn right (west) on 5th St., then left on Terry Ln. Property is located on the right-hand side.

Location

Neighborhood
Sunset
Subdivision
MERCADO HOMES
School district
Tempe School District

Ask about this property

Questions on 421 S TERRY Lane, Tempe, AZ 85281, or want to see it in person?

Listed by Nicole John, Realty ONE Group

Listing information is provided by the participating MLS / IDX program and is deemed reliable but not guaranteed. All information should be independently verified. Equal Housing Opportunity.