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2532 E Washington St
Phoenix, AZ 85034

Sky Harbor Lofts Development Opportunity · Land For Sale · 1.87 AC

Investment Highlights

  • Currently operating as cash flowing multifamily
  • Positioned on Valley Metro Light Rail
  • Redevelopment value with mixed use zoning
  • Located in opportunity zone
  • Close proximity to Sky Harbor Airport

PROPERTY FACTS

Property Type Land
Property Subtype Residential
Total Lot Size 1.87 AC

Description

REI Marketing is pleased to offer for sale a one acre land parcel with the ability to purchase the adjacent parcel to the West. This would give you a total of 1.8 Acres. Both properties are in a Phoenix Opportunity Zone, in the Metro Light Rail overlay and in an area the city is very motivated to support redevelopment in. The main parcel is currently operating as a multifamily assemblage of 14 mobile homes and 18 residential units. The adjacent parcel currently has a vacant industrial building on site. The property delivers a strong cap rate as is and presents strong redevelopment potential. This is a rare opportunity to have cash flowing land while leveraging the latent value future development potential. *OPPORTUNITY TO PURCHASE ADJACENT .8 AC PARCEL. INQUIRE FOR PRICING.

PROPERTY TAXES

zoning

Zoning Code WU CODE T4:3 GW / WU COD (Commercial)
  • Listing ID: 21239582

  • Date on Market: 10/15/2020

  • Last Updated:

  • Address: 2532 E Washington St, Phoenix, AZ 85034