$490,000
Phoenix, AZ 85034
MLS# 6622364
Status: Pending
1 / 8
Property Description
These are 2 lots are ready for development! APN 116-46-074 and 116-46-075. Two adjacent parcels in downtown Phoenix. Both lots are 50' x 140' or 7,000 square feet. Total is 100' x 140' for a combined 14,000 square feet or .32 acres. 1537 E. Monroe is zoned R5 and 1539 is zoned C3 which allows for residential use. The lots are located in one of the hottest redevelopment areas of Phoenix with nearby light rail, employment, education and entertainment centers. Lots are in designated Opportunity Zone and within several other special zoning, development and transportation schemes. Lot is fenced on 3 sides with a large gate providing alley access. There are currently 5 small structures on the commercial lot (vacant). These structures are approximately 300 square feet
Details
Maps
Contract Information
Current Price: $490,000
List Price: $490,000
Status: Pending
List Date: 2023-10-25
For Sale or Lease?: Sale
Type: ER
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Comp to Buyer Broker: 2.5
Variable Commission: N
Location, Tax & Legal
House Number: 1537
Compass: E
Street Name: MONROE
St Suffix: Street
Lot #: 3
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85034
Zip4: 1119
Country: USA
County Code: Maricopa
Assessor's Map #: 46
Assessor's Parcel #: 75
Assessor Parcel Ltr: A
Add'l Parcels: Yes
Assessor Number: 116-46-075-A
Legal Description (Abbrev): LOT 3 BLOCK 8 COLLINS ADDITION PHOENIX BLOCKS 31-34 & 39-40 MCR 000111
Subdivision: COLLINS ADDITION PHOENIX BLOCKS 31-34 & 39-40
Census Tract: 114000
Tax Municipality: Phoenix
Taxes: 593
Tax Year: 2023
General Property Description
Apx Total Acres: 0.32
Apx Total Acres G/N: G
Price Per Acre: 1531250
# Lots in Listing: 2
Apx SqFt: 14000
Price Per SqFt: 35
Apx SqFt G/N: G
Lot Size Dimensions: 280x100
Zoning: R5
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Cross Street: 16th st and Jefferson
Directions: North on 16th street
West on Monroe to lots.
Geo Lat: 33.450159
Geo Lon: -112.048231
Status Change Info
Status Change Date: 2024-05-08
Off Market Date: 2024-05-08
Under Contract Date: 2024-05-08
Legal Info
Township: 1N
Range: 3E
Section: 9
Lot Number: 3
Pmt & Rate Info
Equity: 550000
Assoc/Prop Info
HOA Y/N: N
PAD Fee Y/N: N
HOA 2 Y/N: N
Property Features
Special Listing Cond: N/A
Existing Land Use: Residential Lot
Zoned Presently: Multi-Family
Parcel Size: .25 - .49 Acres
Water: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Distance to Cable: On Property
Distance to Phone: On Property
Distance to Water: On Property
Distance to Electric: On Property
Distance to Gas: On Property
Distance to Sewer: On Property
Existing 1st Loan: Treat as Free&Clear
New Financing: Cash; Conventional
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None
Lockbox Type: None
Supplements
each with a toilet and sink. Tenant improvements would be required to make these tenantable but, a couple have been leased to commercial tenants in the recent past by the prior owner (current owner does not have information on terms).
Prior owner commissioned site plan which allows for 16 - 21 residential units across three stories above 28 parking spaces on the ground level. Current owner has also reviewed an alternative duplex development on each lot with a local developer of duplexes in the area.
{buyer to confirm all calculations and measurements}
Listing Office: My Home Group Real Estate
Last Updated: May - 08 - 2024
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Wednesday 15th of May 2024 11:04 PM