Listed by ABI Multifamily LLC
$320,000
23rd Street Fourplex - Development Opportunity
Details
APN 116-01-041-B
Property Type Land, Multifamily
Sub Type Apartment Building, Residential
Units 4
Beds 2
Tenancy Vacant
Price per SqFt $67
Buildings 1
Stories 2
Acreage 0.110
Zoning R-4
Investment Type Redevelopment
Sale Condition Bank owned foreclosure
Land | 0.11 acres
Marketing description
510 North 23rd Street offers an elite opportunity to build in a high-velocity, in-fill market situated between Downtown Phoenix and the booming Edison-Eastlake revitalization area. This project serves as a key development spot, providing direct access to the urban core, major employment hubs, and the PHX Biomedical Campus.
This project represents a turnkey opportunity for investors looking for quick entry into Phoenix's expanding rental market, backed by strong location fundamentals and significant tax advantages.
Investment highlights
- Ready-To-Build: Preliminary Site Plan Approved for (4) 2-Bedroom / 1-Bathroom Units (688 SF Each)
- Plug & Play: Preliminary Grading & Drainage, Water & Sewer, & Paving Plans Complete—Significantly Reducing Development Timeline
- Flexible Strategy: Utilize Existing Approved Plans for a "Stacked Apartment" Design or Create Your Own, Offering (4) Functional Units With In-Suite Laundry & Open-Concept Layouts
- Incentive Zones: Located Within an Opportunity Zone (OZ), Difficult Development Area (DDA), & Qualified Census Tract (QCT), Maximizing Tax Benefits & Developer Incentives
- Unbeatable Location: 0.5 Miles From Valley Light Rail (24th St/Washington), 2.8 Miles From Downtown, & Minutes From PHX Sky Harbor Airport
Listing Contacts
Listed by ABI Multifamily LLC
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