10th and Ash Place
Multi-Family Fourplex
Marketing description
Tenth and Ash Place presents a rare opportunity to acquire a four-unit multifamily asset in the heart of Tempe’s highly sought-after ASU corridor. Located at 115, 117, 121, and 123 W 10th Street, this condominium-structured property offers unmatched flexibility, allowing investors or owner-users to scale their investment or occupy a unit while generating income. Just steps from Arizona State University, the property benefits from strong, year-round demand driven by students, faculty, and staff, along with walkable access to Mill Avenue, Tempe Town Lake, and surrounding amenities.
The property consists of four approximately 940-square-foot units (3,760 SF total) on a 15,182 SF lot, featuring updated interiors, private yard areas, covered patios, and individually metered utilities. With 16 parking spaces and R-2 zoning, the asset offers both operational efficiency and long-term redevelopment potential. Offering options provide maximum flexibility: purchase all four units for $2,450,000 or Unit 115 for $590,000, Unit 117 for $645,000, or Units 115 & 117 together for $1,235,000.
Investment highlights
- Prime location within walking distance to Arizona State University
- Four spacious 940 SF units with two-bedroom floor plans
- Three 2 Bed / 1 Bath units and one 2 Bed / 2 Bath unit
- Individually metered electric (APS)
- Updated interiors featuring modern kitchens, in-unit washer/dryer, covered patios, and private fenced yards
- Exceptional parking ratio with 16 total spaces (4 covered carports + 12 uncovered)
- 15,182 SF of land in a supply-constrained university corridor
- Zoned R-2 (Multi-Family), offering long-term flexibility and redevelopment potential (subject to City approval)
- Strong tenant demand driven by ASU students, faculty, university staff, and Airbnb
- Multifamily asset combining stabilized income, land value, and walkable university proximity
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