Development Potential - Zoned R-5. Duplex built in 1926 on a 8,700 square foot lot (0.2 acres) in the Oakland subdivision. Each unit includes 2 bedrooms and 1 bathroom. The property also includes a detached residential garage. Construction is masonry and reinforced concrete tilt up frame. Both units are currently… Read More leased and produce rental income. Zoning is R-5 (multiple family residential), and the lot sits directly beside 324 N 18th Ave, a single family home under the same seller. Purchased together, the two parcels total 0.4 acres of R-5 land, positioned for redevelopment into multiple rental units. 324 N 18th Ave and 326 N 18th Ave sit side by side, share R-5 zoning, and total 0.4 acres. Both properties generate income under current use, which lets a buyer hold and collect rent while pursuing entitlements. A developer building to R-5 density standards could redevelop the combined site into as many as 10 rental units, 5 per parcel. Confirm current development standards, parking requirements, and permitted density with the City of Phoenix Planning and Development Department before finalizing a redevelopment plan. Buyer to perform all due diligence. Read Less
Courtesy of Cadaci Realty 623-866-4221
Listing Snapshot
Days Online
0
Last Updated
Property Type
Multiple Dwellings
Year Built
1926
MLS Number
7055964
30 Days Snapshot Of 85007
$627k
+20%
(avg) sold price
5
-37%
homes sold
79
-18%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Refrigerator, Free-Standing Electric Oven, Washer/Dryer
Building
Built in 1926, Construction materials: "Stucco", "Block", 2 total units
Cooling
Central Air
Expenses
Water sewer: $1,800
Floors
Tile, Laminate, Vinyl
Heating
Forced Air, Electric
Parking
Add'l Parking Avail, Carport, 5 total parkings
Property
Zoning: R-5
Roof
Built-Up, Foam
Sewer
Public Sewer
Taxes
Annual amount: $928, Lot: 15
Utilities
APS
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