Regency Apartment Homes | 1100 East Lemon Street, Tempe, AZ 85281 | 44 Units | Built 1963 | Repositioned 2009 | $8,300,000 | $188,636 Per Unit | $407.38 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ. (September 30, 2026) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $8,300,000 / $188,636 Per Unit / $407.38 Per SF sale of Regency Apartment Homes, a 44-unit multifamily apartment community located in Tempe, Arizona. ABI Multifamily's Phoenix-based Institutional Arizona Team - Alon Shnitzer, Rue Bax, Eddie Chang, Doug Lazovick, and Tyler Bruggman facilitated the transaction.
The Buyer is based in Arizona and the Seller is based in California.
Situated on the northeast corner of East Lemon Street and South Terrace Road within the North Tempe submarket, the Regency Apartment Homes is a condo-mapped 44-unit, garden-style multifamily community consisting of five two-story buildings on a ±1.12-acre lot. The property is within walking distance of the Valley Metro light rail and minutes from Arizona State University’s Tempe campus and Phoenix Sky Harbor International Airport. Residents enjoy convenient access to the greater Phoenix metropolitan area via the Superstition Freeway (US 60), Maricopa Freeway (Interstate 10), Red Mountain Freeway (Loop 202), Hohokam Expressway (State Route 143), Piestewa Freeway (State Route 51), and Loop 101. Nearby neighborhood conveniences include Trader Joe’s, Safeway, Walgreens, Whole Foods, and Ace Hardware.
The property is surrounded by numerous dining, entertainment, and shopping hubs, including Tempe Marketplace, one of the Valley’s premier combination lifestyle and power centers, with over 100 shops and restaurants across approximately 1.3 million square feet of retail space, including Target, Best Buy, JCPenney, Barnes & Noble, H&M, Dave & Buster’s, and Harkins Theatres. The Mill Avenue entertainment district in downtown Tempe is just minutes away, while Scottsdale Fashion Square, Chandler Fashion Center, and the many event venues and dining options in downtown Phoenix are all within approximately a 20-minute drive.
Constructed in 1963 of block construction and flat roofs, the property was completely repositioned in 2009. It offers a unit mix of 10 studio and 34 one-bedroom / one-bathroom units with a weighted average of 463 square feet. Each unit is individually metered for electricity, features roof-mounted HVACs, and a master boiler for hot water serves all the units. Interior amenities include air conditioning / heating, granite countertops, custom Italian cabinetry, polished porcelain tile flooring (select units), alpine maple wood flooring (select units), private patio or balcony, and fully equipped kitchens with stainless steel appliance packages. Community amenities include a saltwater swimming pool, laundry facility, gated entry, and covered parking.
The surrounding employment base is anchored by Arizona State University, Amazon, Carvana, GoDaddy, ADP, State Farm, Salt River Project, and JPMorgan Chase.
ABI Multifamily (https://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Las Vegas, San Diego, and Tucson, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.