421 S Terry Lane, Tempe, AZ 85281
- $769,999
- List Price
- $769,999
- Days on Market
- 5
- Status
- ACTIVE
- MLS#
- 7057410
- City
- Tempe
- Subdivision
- Mercado Homes
- Year Built
- 1985
Property Description
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.
Additional Information
- Elementary School
- Scales Technology Academy
- High School
- Tempe High School
- Middle School
- Geneva Epps Mosley Middle School
- Community Features
- No Pool
- Construction
- Wood Frame, Painted, Stucco
- Cooling
- Central Air
- Electric
- APS
- Flooring
- Ceramic Tile
- Heating
- Electric
- New Financing
- VA Loan, FHA, Conventional, 1031 Exchange, Cash
- Parking Features
- Paved, >1 Space Per Unit, Assigned
- Roofing
- Tile, Built-Up
- Subdivision
- Mercado Homes
- Taxes
- $1,729
- Tax Year
- 2025
- Tenant Pays
- See Remarks
- Units
- 2
- Water
- City Franchise
- Zoning
- R-3
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Listing courtesy of Realty ONE Group.
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