Key Details
Property Type Multi-Family
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 6736946
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1941
Annual Tax Amount $1,883
Tax Year 2023
Lot Dimensions 16,570
Property Description
The property is in great condition, is consistently occupied and provides immediate return on investment. For the new owner, there is still a massive amount of value to be added. A new owner can greatly benefit by further improving the interiors, adding in unit washer/dryers and potentially adding more units. The exterior common areas have plenty of room to add more private yards or add additional tenant amenities.
The Prez Apartments are nestled in the vibrant urban neighborhood known as The Triangle, just west of downtown and mere blocks from the acclaimed Grand Avenue Arts District and Roosevelt Row. Residents enjoy seamless access to downtown amenities, including top-rated restaurants, bars, nightlife, coffee shops, ASU's downtown campus, and major employment centers.
In addition the property has big potential for a new development project. The dynamic zoning allows for multifamily, commercial, hospitality or mixed-use development projects, catering to diverse market demands. And with over a 30,000 daily traffic count along 7th Ave, visibility for the intended use is ideal.
Location
State AZ
County Maricopa
Zoning C-DT
Interior
Heating Individual, Central, Window/Wall Unit(s), Electric
Cooling Central A/C, Individual, Wall/Window Unit(s), Ceiling Fan(s)
Flooring Other, Ceramic Tile
Appliance F/S Oven/Range, Washer/Dryer
Exterior
Garage Free, Street Parking
Community Features See Remarks, No Pool
Waterfront No
Roof Type Tile
Parking Type Free, Street Parking
Building
Sewer Public Sewer
Water Master Meter
Schools
School District Phoenix Union High School District
Others
Senior Community No
Tax ID 111-30-062-A
Acceptable Financing Conventional, 1031 Exchange
Listing Terms Conventional, 1031 Exchange
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