1229 E Spence Avenue, Tempe, AZ, 85281
About This Home
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**
Getting Around
Very Walkable
Good Transit
Biker's ParadiseSchools
Construction
Condition
- Year built: 1940
Materials
- Roof: Composition
- Construction materials: Wood Frame,Painted
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Appliances included: See Remarks
Features
- Flooring: Concrete
Heating & Cooling
- Heating features: See Remarks
- Cooling features: See Remarks
Property
Details
- Parcel number: 13309045
- Zoning: R-4
Lot
- Lot size dimensions: Irregual
Parking
- Total spaces: 3
- Parking features: Paved,Free,1 Space/Unit
- Covered spaces: 1
- Has uncovered spaces: Yes
- Uncovered spaces: 2
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Heat Wave
- Inland Flooding
- Hail
How This Home’s Risks Compare
FEMA Declared Disasters in Maricopa County and Arizona
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $6,952 | $83,424 |
| Home Insurance | $396 | $4,752 |
| Property Taxes | $504 | $6,048 |
| Electricity | $216 | $2,603 |
| Total | $8,068 | $96,816 |
Income You'd Need if You Spent...
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-02-15 | Price change | $1,450,000 |
| 2025-11-23 | Listed for sale | $1,600,000 |
| 2016-03-11 | Sold | $145,000 |
| 2016-01-21 | Listed for sale | $145,000 |
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