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Residential Land for Sale in Tempe, Arizona

1061 W 5th St, Tempe, AZ 85281

$299,000
0.24 acres
Active
$900 drop
Est $2,069/mo

Awesome opportunity to build housing a mile from ASU! Easement from 5th St is in place. The other 3 APN's are 124-36-188, 124-36-189, and 124-36-191. All 4 lots total 0.24 AC. Whatever is built, the footprint of the buildings should not cover more than 5000sf, with max height - 30 feet. Please check with Lucas at City of Tempe Planning before writing offer. He tells us a pre-planning review can be done over the phone or in person. Prior escrows fell out because (1) buyer wanted to do 8 units which was not approved, and (2) buyer could not figure cost of construction. Parents are selling this land after son moved out of state. (Continued in Supplement) Updated info - seller found out from Tempe City Planning FYI: (Please verify for yourself of course - not to be relied upon.) He said the property is now zoned R3 (3 dwellings) but could be changed to R4 (4 dwellings), with preliminary review and a rezoning application. On the Master Community Development plans they already have property as an R4, so it should be a routine matter to change it to R4. Seller also learned that if garages were part of the footprint sq ft, it could lend itself to be 4 units rather than 3 units, because of the parking ratio. Hurry before someone else grabs this! ALL FIGS/MEAS/INFO/SF/SCHOOLS APPROX. BUYER TO VERIFY ALL INFO OF IMPORTANCE TO THEM.

Location

Street address
1061 W 5th St, Unit 3
Community
Treble
School district
Tempe Union High School District
Elevation
1,152 feet
Coordinates
33.4248, -111.9544

Directions

On south side of 5th St between Beck and Hardy, just one mile west of ASU. East of Scales Technology Academy Elementary School. Use the adjacent condo entrance/easement access road.

Property details

Lot size
0.24 acres10,454 sq ft
Zoning
R-3
MLS #
ARMLS 6846759
Posted

Property taxes

2024
$333

Parcels

  • 124-36-190

Legal description

Details and features

Listing

Type
Land

Lot

Features
East/ West Exposure

Nearby schools

NameTypeDistrict
Tempe High SchoolHighTempe Union High School District

Listing history

DateEventPriceChangeSource
Feb 20, 2026Price drop$299,000$900 -0.3%ARMLS
Feb 12, 2026Relisted$299,900ARMLS
Feb 1, 2026Listing removed$299,900Listing agent
Jan 2, 2026Under contract$299,000ARMLS
Dec 4, 2025Price drop$299,000$75,950 -20.3%ARMLS
Oct 17, 2025Price drop$374,950$50 -0.01%ARMLS
Oct 7, 2025Price increase$375,000$63,000 20.2%ARMLS
Sept 13, 2025Price drop$312,000$12,000 -3.7%ARMLS
July 24, 2025Price drop$324,000$900 -0.3%ARMLS
June 30, 2025New listing$324,900ARMLS
Apr 26, 2025Listing removed$325,000Listing agent
Apr 13, 2025Price drop$325,000$24,900 -7.1%ARMLS
Apr 5, 2025New listing$349,900ARMLS
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This 0.24-acre property is located at 1061 W 5th St Unit 3 in Tempe, AZ 85281. The property is available for sale for $299,000.

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