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Rob & Pam Schabatka

Broker/Owner

(928) 282-4166 (o)

(928) 821-3508 (c)

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$749,999
62 Days On Site

421 S TERRY Lane
Tempe, AZ 85281

For Sale|Multi Family|Active
6
Beds
8
Total Baths
1985
Built
Subdivision:
MERCADO HOMES
County:
Maricopa

Due to the health concerns created by Coronavirus we are offering personal 1-1 online video walkthough tours where possible.

Call Now: (928) 282-4166 x 253
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(928) 282-4166 x 253
421 S TERRY Lane421 S TERRY Lane421 S TERRY Lane421 S TERRY Lane
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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.

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Listing Snapshot
Price 
$749,999
Days On Site 
62 Days
Bedrooms 
6
Inside Area (SqFt) 
N/A
Total Baths 
8
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
N/A
Year Built 
1985
MLS® Number 
7057410
Status 
Active
Property Tax 
$1,729
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
7 days agoListing updated with changes from the MLS®
3 weeks agoPrice changed to $749,999
2 months agoListing first seen on site
General Features
Cross Street 
Priest Dr & University Dr
Disclosures 
None
Parking 
PavedAssigned
Parking Spaces 
8
Property Sub Type 
Multi Family
Water Source 
Public
Zoning 
R-3
Interior Features
Appliances 
RefrigeratorDisposalMicrowaveWasher/DryerFree-Standing Electric Oven
Cooling 
Central Air
Flooring 
Ceramic Tile
Heating 
Electric
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Exterior Features
Construction Details 
Stucco
Roof 
TileBuilt-Up
Community Features
School District 
Tempe Union High School District
Township 
1N
Financing Terms Available 
FHAConventional1031 ExchangeCash
Roads 
Asphalt
Schools
School District
Tempe Union High School District
Elementary School
Scales Technology Academy
Middle School
Geneva Epps Mosley Middle School
High School
Tempe High School
Listing courtesy of Realty ONE Group.



All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved.
Last checked: 2026-09-24 01:08 AM UTC

Neighborhood & Commute
Source: Walkscore
Disclosure: Community information and market data powered by Constellation Data Labs. Information is deemed reliable but not guaranteed.
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