Garden Style Apartment Homes for Sale in Tempe

Studio 710 represents a rare investment opportunity in one of the Phoenix MSA’s most sought-after multifamily markets. Situated on over 9 acres of Opportunity Zone land in Tempe, the property features a low-density, campus-style layout that is increasingly difficult to replicate. Constructed in 1980 and 1975, the asset has been well maintained by long-term ownership and offers day one cash flow.

Visit our property website to learn more and to request the offering memorandum.

The property’s premier location—approximately 1/2 mile from Arizona State University (ASU) and adjacent to the Tempe Town Lake Employment Corridor—positions it at the epicenter of tenant demand. With over 70,000 students enrolled at ASU and 67% of graduates remaining in Arizona, the submarket benefits from a steady influx of 21,000+ new workers annually, creating enduring fundamentals for long-term growth.

Ideally situated near ASU, Studio 710 serves the broader market as a traditional multifamily community. Its 16% student concentration complements a stable tenant base, resulting in exceptional 98%+ occupancy levels. The asset features individual utility metering, individual AC units, large water heaters feeding multiple units (no boilers), and oversized studio layouts with some units with half-wall configurations that function more like one-bedroom units.

The value-add opportunity is immediately executable, with an estimated $230,000 in additional income through upgrading 52 partially renovated units and installing in-unit washer/dryers across all homes. The low-density site supports an exceptional amenity package that rivals newer Class A product, including indoor and outdoor gyms, a running track, two swimming pools, and sports courts.

Combining its low-density infill location, stable cash flow, and clear value-creation path, Studio 710 offers an attractive investment profile in one of the Southwest’s premier multifamily markets.