1244 W Pierce Street (unit 15), Phoenix

$425,000

0 Bed
0 Bath
.3 Acre
0 Garage

Pierce Street Apartments is a prime development opportunity withcomplete plans for an 8-unit apartment community located on the westside of Downtown Phoenix. The property is located just west of 7thAvenue, on Pierce Street, in close proximity to a lot of redevelopmentactivity. It is just under one mile from Central Avenue and the nearestlight rail station in Downtown Phoenix and is also roughly a mile to theStadium District, Roosevelt Row, and the ASU Downtown Campus. It isalso less than a mile to the I-10 Freeway, giving residents easy accessto all areas of Metropolitan Phoenix. This location is as central as itgets and allows residents to enjoy, with ease, so much of what Phoenixhas to offer. With many dining, shopping, and entertainment options,as well as... ...multiple freeway access points and light rail stations within
minutes, this property will prove to be a phenomenal development
opportunity in a fantastic central location.

Pierce Street Apartments is a beautiful project featuring 8 well-planned units in a cool, mid-century building. The project features a good unit mix of (4) one-bedroom/one-bathroom and (4) two-bedroom/two bathroom units. The units will offer a rare, more affordable option to tenants who are seeking a brand-new, class A apartment community at a price point that is getting harder and harder to find. The project calls for surface parking and wood frame construction to keep costs at a reasonable level and is situated to capitalize on the phenomenal views of Downtown Phoenix. This is a rare, bite-sized development opportunity in the heart of one of the fastest growing metroplexes in the country. The site plan has been approved and full construction drawings are under review by the City of Phoenix. The seller is asking all prospective buyers to please perform their own due diligence with
regards to construction costs.

Essential Information
MLS® #6309466
Price$425,000
Acres0.30
TypeLand / Lot
StatusActive
Community Information
Address1244 W Pierce Street (unit 15)
SubdivisionUNIVERSITY ADDITION
CityPhoenix
CountyMaricopa
StateAZ
Zip Code85007
Exterior
Lot DescriptionNorth/South Exp
Zoning

Single Family, Multi-Family, Other (See Rmks)

Listing Details
OfficeABI Multifamily
Property History
Status Changed from Pending to Active
Status Changed from Active to Pending
Price Reduced from $500,000 to $425,000
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Listing information last updated on May 23rd, 2022 at 1:18am MST.