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1038 - 1048 N 48th Street - R-5 Rosedale & Greenhaven, Phoenix, AZ

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1038 - 1048 N 48th Street - R-5 Rosedale & Greenhaven

Phoenix, AZ 85008 - 44th Street Corridor Submarket

(9.5 MB)

Property Type:Land Parcel Size:4.78 Acres
For Sale Price:$3,550,000 Price/Acre:$743,455 Price/SF:$17.07

Proposed Use:MultiFamily

On-Site Improv:-

Sale Notes:
Excellent high density apartment land. Extremely prime for redevelopment. City of Phoenix anxious for more Apartment complexes to replace older style family MHP's. 2 combined lots of 300 foot frontage and 720
feet deep. Asking $17.00+ a square foot. $1.5 mil assumable loan. Current monthly income is 25K.
East Phoenix R-5 land has recently sold for all time record high prices of $24 to $30+ a sq foot for development of mid rise Office, multi story and multi family. Rosedale & Greenhaven Mobile Home Parks have their non-conforming use permits active and in good standing. These 2 properties could remain MH Parks until developing for higher and better use.

Near the 202 freeway and less than 5 minutes to Scottsdale.
10 minutes to Sky Harbor airport and downtown Phoenix.

Investors Commercial Realty
Mike Van Sickle
(602) 279-3000

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