920 S KENWOOD Circle Tempe, AZ 85281
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Malaran Park 2
MLS Listing ID 6894124
Maintenance Fees $100
Year Built 1962
Annual Tax Amount $969
Tax Year 2024
Lot Dimensions 6,534
Source Arizona Regional Multiple Listing Service (ARMLS)
Property Description
This well-maintained property features two spacious 2-bedroom, 1-bathroom units—each approximately 672 square feet—with huge pie shaped private backyards, with each having carport parking, and long-term tenancy in place.
Investment Highlights:
Both units are currently rented below market rates, offering significant upside potential. Unit A is leased at $1,305 per month through January 2026, while Unit B is on a month-to-month lease at $1,090. The average rent across both units is $1,197/month, with comparable market rents in the area suggesting potential increases with minor improvements or upon turnover. A major value-add feature of this property is the rare utility structuretenants pay all utilities, including water, sewer, trash, and electricity, minimizing owner operating expenses and maximizing NOI.
Originally purchased in 2014, the property was fully remodeled and has been well maintained. Both units feature tile flooring throughout and include each washer/dryer. Unit A has been occupied since 2020, while the tenants in Unit B have been in place since acquisition.
Location Benefits:
Situated on a quiet cul-de-sac that backs up to a park, 920 S Kenwood Circle is ideally positioned near Arizona State University, the Tempe Streetcar and light rail system, the Loop 101 and 202 freeways, and Phoenix Sky Harbor International Airport. This location attracts steady rental demand from students, professionals, and long-term tenants alike.
Whether you're seeking a stable, low-maintenance investment or a value-add opportunity in one of the Valley's most dynamic rental submarkets, 920 S Kenwood delivers strong fundamentals with additional upside.
All facts and figures are approximate, buyer to verify the MLS.
Location
State AZ
County Maricopa
Community Malaran Park 2
Zoning R-3
Interior
Heating Electric
Cooling Electric
Flooring Carpet, Ceramic Tile
Appliance Free-Standing Range
Exterior
Parking Features Assigned, On Street, Carport
Community Features No Pool
Roof Type Built-Up,Foam
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Schools
School District Tempe Union High School District
Others
Senior Community No
Tax ID 132-64-028
Acceptable Financing Other (See Remarks), Conventional, 1031 Exchange, FHA, VA Loan
Listing Terms Other (See Remarks), Conventional, 1031 Exchange, FHA, VA Loan
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