920 S KENWOOD Circle, Tempe, AZ 85281 - MLS#6894124 - Ryan Ney

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Ryan Ney

My Home Group Real Estate

ryan@realscottsdalehomes.com +1(480) 566-9249

$550,000

Est. payment - /mo

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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

Sunrise at Kenwood | Duplex Investment Opportunity in a Prime Tempe Location

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

Private Pool No

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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Listed by Grace CRE

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Ryan Ney

+1(480) 566-9249

Realtor® ~ Team Leader | SASA548713000

Realtor® ~ Team Leader SASA548713000

Scottsdale Speciality Searches

920 S KENWOOD Circle Tempe, AZ 85281

Ryan Ney

Key Details

Location

Interior

Exterior

Building

Schools

Others

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