4.18 Acres of Multifamily Land
Land | 4.18 acres
Marketing description
Marcus & Millichap is pleased to exclusively present for sale +/- 4.18 acres at 2125 E. Southern Avenue, Phoenix, Arizona 85040. This infill development site is currently zoned single family residential (R1-6) by the City of Phoenix. Based on preliminary discussions with city staff, rezoning from R1-6 the R-3 (multifamily) may be a reasonable expectation. R-3 allows up to 12 DUs/AC.
The area around the subject property consists of single family home subdivisions, townhomes communities as well as retail, restaurants, grocery store located on Southern Avenue. The current population within 2 and 5 miles are +/- 50.5k and 224.4k, respectively. Avg household incomes within 2 and 5 miles are +/- $83.7k and $77.9k, respectively.
The property is essentially rectangular shaped with +/- 330 ft of frontage on W. Southern Avenue and +/- 554 ft deep with level topography. City of Phoenix water and sewer lines are located in W. Southern Avenue near the northern boundary of the property. All utility locations, access and treatment capacity are to be verified by the buyer during due diligence.
Investment highlights
Limited # of Infill Residential Parcels.
Easy Access to Major Employment Corridors, Downtown Phoenix & Tempe and Phoenix Sky Harbor International Airport.
Near Recreation Areas - South Mountain Park, Hermoso Park and Golf Course.
Average Household Income Within 2 and 5 Miles are $83.7k and $77.9k, Respectively.
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