$399,000
Excellent development opportunity near the Valley Metro light rail B Line. This oversized 0.44-acre lot measures approximately 110 feet by 174 feet and is zoned R-5, one of Phoenix's higher-density multifamily residential zoning classifications. R-5 zoning may accommodate apartments, condominiums, townhomes, attached housing, or multiple residential units on a single property, subject to City of Phoenix approval, development standards, parking, setbacks, access, and site-plan requirements. The city's published zoning guidance identifies a base multifamily density of approximately 43.5 dwelling units per gross acre, with potential density bonuses available for qualifying developments. Utilities are already located on or adjacent to the property, including an electric pole at the northwest corner, a water meter at the sidewalk, and a capped sewer line near the tree and pedestrian gate, identified by a concrete block. The property is enclosed by a block fence and offers a compelling opportunity for a multifamily infill project, income-producing development, or custom residential concept in a transit-accessible location. Buyer to independently verify zoning, density, utilities, lot dimensions, development feasibility, and all information material to the buyer.
7042737
MLS
⋅
85040
Zip Code
4622 S 7th Street Unit 3, Phoenix