For sale Home

Listed May 18, 2026

$790,000 Est. $5,225/mo

421 West 5th Street

  • 3

    Beds

  • 1

    Baths

  • 1,000

    Sq ft

The story

R3 zoning near Mill Ave, on 5th! RARE opportunity to own a property just a few blocks away from Mill Ave! Large 8,300+ sf lot! Located on one of the best streets - 5th St! New construction abounds! Urban infill at its best! - there is a new 50m+ upscale mid-rise project directly across the street that is just being completed! And less than 100 yards to the east is Farmer Ave, where hundreds of millions have been spent on a variety of commercial, multifamily, and mixed used developments, including the new Westin Vib hotel! Only a block to the Tempe Streetcar, which connects to the Light Rail, which is less than 2 min away! Walk to ASU, Mill Ave, Tempe Town Lake and more! This is a GREAT AREA!! Do NOT disturb tenants, drive-by Only! R-3 ZONING, large/deep lot!! Perfect location for new condos/townhomes etc. Zoning should allow for 3 units but check with city as owner/agent makes no guarantees. Imagine the views from the 3rd floor rooftop balconies of the West 5 towers and the Tempe skyline, plus the mountain views!! Drive by only, do not disturb the tenants, Thx

Facts & features

Home type

Home

Year built

1954

Floors

1

Price per sq ft

$790

Included features

  • Cooling

    Central Air, Ceiling Fan(s)

  • Heating

    Natural Gas

  • Appliances

    Gas Cooktop

  • Flooring

    Tile

  • Roof

    Composition

  • Lot Information

    North/South Exposure, Alley, Dirt Front, Dirt Back, Gravel/Stone Front, Gravel/Stone Back

  • Water Source

    Public

  • Sewer

    Public Sewer

  • View

    City

Mortgage calculator

Estimated monthly payment

$5,225 /mo

7% rate · 30-yr fixed · 20% down

  • Principal & interest $4,205
  • Property tax $790
  • Insurance $230

Includes principal, interest, taxes & insurance.

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Listing Broker

Windermere Real Estate & Property Management

Broker Name

Windermere Real Estate & Property Management

Agent

Bruce Swift