917 N 8TH Street, Phoenix, AZ 85006

$1,100,000

Sale includes 917 & 921 N 8th St. 8th & Roosevelt consists of a historic home and additional land for development, located in the heart of the Garfield Historic District. The property sits on approximately a half-acre (gross) of land that is zoned R-5. The seller has a site plan… Read More to add (11) 1-bedroom units and (2) 2-bedroom units along with amenity space between the new units and the existing historic home. This would be a perfect small apartment community or short-term rental building in a ''Melrose Place'' type setting in downtown Phoenix. This is a fantastic, bite-sized opportunity for the seasoned investor or a local creative / artistic developer who wants to do a unique, fun project in the heart of one of the busiest, most dynamic, and eclectic areas in the entire Valley. 8th & Roosevelt is an awesome value-add / development opportunity in the heart of Downtown Phoenix. The property is located just east of 7th Street right off of Roosevelt in the heart of the gentrifying Garfield Historic District. Roosevelt and 7th Street is the east entrance to the happening Roosevelt Row district in the epicenter of Downtown Phoenix. It is minutes to the stadium district and a short bike ride / walk to the downtown ASU campus, Phoenix Burton Barr Library, and the Phoenix Art Museum. It is also minutes to Margaret T. Hance Park, which is the location of hundreds of activities including the McDowell Mountain Music Festival and many weekend food / craft festivals throughout the year. It is approximately a half mile to the I-10 Freeway to allow quick and easy access to all parts of the valley. This location is as central is it gets and allows residents to enjoy, with ease, so much of what Downtown and Midtown have to offer. With many dining, shopping, and entertainment options, as well as multiple freeway access points within minutes, 8th & Roosevelt Redevelopment Opportunity will prove to be a great place for residents to live as well as will be a very attractive parcel for a future class-A redevelopment in an A location. Phoenix is consistently on every national list for net influx of people and jobs, and the downtown area is expected to continue to explode with huge job growth in many different sectors; with Arizona State University's downtown campus rapidly expanding (already over 11,000 students and rapidly growing); with massive amounts of biotech investment and development in the area (the new Creighton University is approximately 2 miles away in midtown; the Phoenix Biomedical HUB is a couple blocks away; the stadium district is minutes away; the warehouse district is exploding around the corner to the south; and more). Opportunities like 8th & Roosevelt are rare and offer an investor a great value-add opportunity in one of the most active and desirable areas in the country. Read Less

Courtesy of ABI Multifamily, John Klocek, 602-714-1400

Listing Snapshot

Days Online

107

Last Updated

Nov 23, 2024

Property Type

Single Family Residence

Beds

Full Baths

Square Ft.

1,465

Lot Size

0.41 Acres

Year Built

1906

MLS Number

6741219

30 Days Snapshot Of 85006

$489k

+9%

(avg) sold price

homes sold

100

+25%

(avg) days on market

Snapshot

Area Map

Additional Details

Building

Built in 1906, Living area: 1465, Construction materials: "See Remarks", "Brick"

Cooling

"See Remarks"

Fence

"Chain Link"

Fireplaces

"Other (See Remarks)"

Heating

"See Remarks"

Home Owner's Association

Association fee includes: "Other (See Remarks)"

Lot

0.41 acres, 17,730 sqft

Pool

"None"

Roof

"See Remarks"

Sewer

"Public Sewer"

Taxes

Annual amount: $1,752, Lot: 5

Utilities

"Other (See Remarks)"

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917 N 8TH Street

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