Courtesy of SERHANT.
Property Description
Exceptional value-add opportunity in the heart of Phoenix. Situated on an expansive 14,000 SF lot, this 5-unit multifamily property offers tremendous potential for investors, developers, and owner-operators seeking their next repositioning project. The property requires substantial renovation, creating a true blank canvas for value-add improvements, redevelopment, or adaptive reuse potential. Whether your strategy is long-term hold, multifamily investment, workforce housing, or reimagining the site for its highest and best use, this asset offers exceptional flexibility. Ideally located just minutes from Downtown Phoenix and the Arizona State Capitol, with convenient access to I-10, I-17, Sky Harbor International Airport, the Phoenix Bioscience Core, ASU’s Downtown Campus, and the city’s major sports and entertainment venues. Positioned within an evolving urban corridor experiencing continued public and private investment, this rare large-lot property combines location, density, and long-term upside. Investment opportunities with this combination of size, proximity to the urban core, and repositioning potential are becoming increasingly difficult to find. Bring your vision and unlock the possibilities.
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Property Details and Features
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Property Access
- Road Surface: Gravel
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Appliances & Equipment
- None
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Bathrooms
- 7 total bathrooms
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Bedrooms
- 14 total bedrooms
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Building
- Built in 1931
- 4 buildings
- Construction Materials: Wood Frame, Painted, Stucco
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Community
- No Pool
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Cooling
- None
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Disclosures
- None
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Expenses
- Operating: $1,299
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Floors
- Ceramic Tile
- Vinyl
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Heating
- None
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Listing
- Listing ID: 7048471
- Standard Status: Active
- MLS Status: Active
- On market as of 2026-07-03
- 69 days on market
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Location
- Subdivision: CAPITOL BLK 43, 44, 35-38, 29, 30
- County/Parish: Maricopa
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Lot
- Dimensions: 14,000
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Owner Pays
- Electricity
- Trash Collection
- Water
- Sewer
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Parking
- 1 Space/Unit
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Roof
- Composition
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Schools
- Elementary School: Capitol Elementary School
- Elementary School District: Phoenix Elementary District
- High School: Central High School
- High School District: Phoenix Union High School District
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Sewer
- Public Sewer
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Taxes
- Additional parcels description:
- Parcel Number: 109-49-101-A
- Public Survey Range: 2E
- Public Survey Section: 12
- Annual Amount: $1,299
- Tax Block: 43
- Tax Book Number: 109.00
- Legal Description: LOT 5 BLOCK 43 CAPITOL BLK 43, 44, 35-38, 29, 30 MCR 000213
- Lot: 5
- Parcel Letter: A
- Year: 2025
- Zoning: R-3
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Utilities
- Water Source: City Franchise
- APS
Property Map
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This content last updated on September 6, 2026 10:11AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.