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About this home
Looking to start the year off with a great investment opportunity or to house hack in one of the city's strongest rental markets? Look no further than 1224 S Smith Rd. This well-located 4-plex sits in a high-demand rental corridor minutes from ASU, light rail, downtown Tempe, major freeways, and employment hubs. Surrounded by major education, transportation, and lifestyle anchors that drive consistent tenant demand year-round. With strong tenant demand, low vacancy risk, and value-add upside through rental optimization makes this a rare opportunity in one of Tempe's most desirable investment locations.
Alegre, located between South Priest Drive and South Hardy Drive, is a residential and suburban Tempe neighborhood with low-slung townhomes and pocket greenbelts. The neighborhood’s character concentrates around the Baseline Road and Priest Drive corridor, where traffic, storefront signage, and late-day patio chatter set the tempo. Nearby pillars include Tempe History Museum, Tempe Center for the Arts, and the ASU Gammage cultural calendar. Streets read as mid-century Tempe with block walls, desert landscaping, and shaded sidewalks. Canal paths and parks shape a walk-and-roll routine, while Mill Avenue’s dining and music scene sits a short drive away.
Provided by Walk Score and Local Logic
Market insights
1224 S Smith Rd · $1,000,000
DAYS ON MARKET
218 days
The average home goes pending in 58 days.
SALE-TO-LIST
97.1%
Most homes are selling 3% below list price.
LIST PRICE
$1,000,000
Median list price in this area is $600,000. (40% lower than this home)
PRICE DROP
2 price drops
16% of homes in this area have had a price drop in the past month.
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Interior features
Free-standing range
Disposal
Dishwasher
Refrigerator
Microwave
Washer and dryer
Tile and ceramic tile flooring
Ceiling fans
Electric cooling
Electric heating
Bathrooms
4 bathrooms
Kitchen
Free-standing range
Dishwasher
Refrigerator
Microwave
Disposal
Laundry & utility
Washer and dryer included
Flooring
Tile
Ceramic tile
Heating & cooling
Electric heating
Electric cooling
Ceiling fan(s)
Exterior features
Asphalt road access
No community pool
Home design
Fee simple ownership
Parking
4 parking spaces
More than 1 space per unit
Construction
Brick veneer and painted block construction
Foam roof
1 building on the property
Utilities
SRP electric service
Public sewer
City franchise water
Financial info
Annual tax listed (not included per instructions)
Electricity and solar
View estimated energy costs and solar savings for this home
Fully occupied 4plex, in heart of Tempe, located walking distance from Smith/Apache Light rail stop. All units are 2bed/1bath. All units have new kitchen cabinets, granite counter tops. All units feature in-unit laundry, with stackable washer-dryer. Exterior of building recently painted, 3 of units interior also got painted in last one year. All 4 units gets Section 8 assistance, monthly rent from City of Tempe is usually deposited 10 days before rent is due. Extra storage at back, that can be used for Coin laundry for extra income. No showing until accepted offer. Pictures taken when units were vacant. Currently drawing $4458 total monthly rent. 2 leases are month to month, one 10/31/20 and last is 12/31/20: Rents are : $1250, $1130, $1020, $1058 Buyer to verify all information
ARMLS #6053215
Apr 15, 2020
Listing Removed
—
Mar 19, 2020
Listed
$722,000
Public Records
Mar 30, 2018
Sold
$367,500
ARMLS #5705725
Mar 30, 2018
Sold
$365,000
Mar 21, 2018
Pending
—
Mar 1, 2018
Contingent
—
Feb 13, 2018
Price Changed
$385,000
Jan 20, 2018
Relisted
—
Jan 14, 2018
Contingent
—
Jan 7, 2018
Listed
$395,000
Public Records
Aug 26, 2016
Sold
$300,000
ARMLS #5467663
Aug 17, 2016
Sold
$310,000
Jul 18, 2016
Pending
—
Jul 8, 2016
Listed
$299,000
ARMLS #5331592
Sep 29, 2015
Listing Removed
—
Sep 8, 2015
Listed
$275,000
ARMLS #5230722
Mar 30, 2015
Listing Removed
—
Mar 18, 2015
Price Changed
$273,999
Feb 2, 2015
Listed
$275,000
ARMLS #5148709
Nov 12, 2014
Listing Removed
—
Oct 3, 2014
Price Changed
$265,000
Sep 24, 2014
Relisted
—
Aug 19, 2014
Listing Removed
—
Jul 24, 2014
Listed
$275,000
ARMLS #4883392
Jun 4, 2013
Listing Removed
—
May 14, 2013
Pending
—
Apr 30, 2013
Price Changed
$169,900
Apr 30, 2013
Relisted
—
Jan 31, 2013
Listing Removed
—
Jan 31, 2013
Listed
$150,000
ARMLS #2060665
Jan 31, 2004
Sold
$192,000
Dec 4, 2003
Listing Removed
—
Nov 10, 2003
Listed
$192,000
ARMLS #1941398
Jun 27, 2003
Sold
$182,000
Apr 29, 2003
Listing Removed
—
Feb 23, 2003
Listed
$188,000
ARMLS #1548795
Feb 15, 2001
Sold
$140,000
Sep 12, 2000
Listed
$144,900
Public Records
Mar 16, 1989
Sold
$88,500
Year
Property tax
Land + Additions
Assessment*
2025
$1,694 (+7.0%)
2024
$1,583 (+1.2%)
2023
$1,564 (+4.3%)
2022
$1,501 (−0.7%)
$9,260 + $37,040
$46,300
2021
$1,511 (+3.1%)
$7,740 + $30,980
$38,720
2020
$1,465 (+1.9%)
$6,750 + $27,010
$33,760
2019
$1,437 (+2.6%)
$5,550 + $22,230
$27,780
2018
$1,402 (+3.1%)
$5,550 + $22,230
$27,780
2017
$1,360 (+0.7%)
$4,550 + $18,230
$22,780
2016
$1,350 (+4.1%)
$4,250 + $17,020
$21,270
2015
$1,297 (−6.2%)
$3,160 + $12,640
$15,800
2014
$1,382 (+21.5%)
$2,120 + $8,500
$10,620
2013
$1,138 (−10.5%)
$1,490 + $5,990
$7,480
2012
$1,271
$1,840 + $7,390
$9,230
2011
$1,270 (−6.7%)
$2,160 + $8,650
$10,810
2010
$1,361 (−6.4%)
$2,680 + $10,740
$13,420
2009
$1,454
$4,070 + $16,300
$20,370
Public record
Public record
Zoning
Beds
—
Baths
—
Stories
1
Lot width
—
Lot depth
—
Lot size
7,187 Sq. Ft.
Year renovated
1963
Finished Sq. Ft.
—
Unfinished Sq. Ft.
—
Total Sq. Ft.
2,576
Year built
1963
Style
Multi-Family (2-4 Unit)
County
Maricopa County
APN
13267062L
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 8, 2026.
CSS
Commercial Shopping And Service District
The CSS district is intended to meet the daily shopping and service needs of Tempe's neighborhoods
Permitted uses
Include but are not limited to:
Convention center
Religious facility
Bank
Convenience store
Garden center
General retail
Restaurant
Warehouse
Office
Medical office
Climate risks
4/10 Flood Factor
Estimated 13-19% chance of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
9/10 Heat Factor
7 days above 111° expected this year, 19 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 1 days in 30 years
Provided by First Street
Historical weather
Tempe, AZ • 85281
Average low and high temperatures (°F)
69
47
78
55
84
61
86
64
94
72
105
82
106
85
107
87
102
81
92
69
76
55
74
51
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
91/ 100
Exceptional sunlight
Sunscore
This home receives average direct sun exposure in the zip code. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
10.5 hrs
6.7 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 1224 S Smith Rd
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $475,000 and $720,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $475K to $720K.