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Map
$490,000
↓ $11K (2.2%)
●
Land -
For Sale
1537 E MONROE Street #3
Phoenix, AZ 85034
Studio
0 Bath
$2,456
Estimated Monthly
$0
HOA / Fees
1.75%
Cap Rate
About This Property
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 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}
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 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}
Unit Size
-
Days on Market
189 days
Land Size
0.32 acres
Price per sqft
-
Property Type
Land
Property Taxes
$49
HOA Dues
-
Year Built
2009
Listed By
Last updated: 16 days ago (ARMLSAZ #6622364)
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Apr 16, 2024 | Price Decreased |
$490,000
↓ $11K
(2.2%)
|
|
Price Decreased | |||
Apr 6, 2024 | Relisted | $501,000 | |
Relisted | |||
Jan 31, 2024 | No longer available | - | |
No longer available | |||
Jan 6, 2024 | Price Decreased |
$501,000
↓ $49K
(8.9%)
|
|
Price Decreased | |||
Dec 28, 2023 | Relisted | $550,000 | |
Relisted |
Show More
Property Highlights
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Active
Other
Loft
2
Baths
1,395 ft²
$358/ft²
$499,000
Nov 27, 2023
-
$90/mo
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|
Building Info
1537 East Monroe Street
1537 East Monroe Street, Phoenix, AZ 85034
- 1 Unit for Sale