This rare and exceptional investment or 1031 exchange opportunity is located at 338 E Portland St in the heart of the Roosevelt Row Arts District, one of Phoenix’s most dynamic and walkable neighborhoods. Zoned DTC-E-EV, this property allows for high-density, mixed-use development up to 250 feet tall with 100% lot coverage—ideal for luxury multifamily, boutique hotel, or live/work concepts. With no parking minimums and generous height allowances, it's one of the most flexible zoning designations in the city. Currently improved with 9 fully renovated 1BR/1BA units, the property generates steady income through Airbnb, travel nurses, and high-tech professionals, making it a cash-flowing asset while you prepare your redevelopment strategy. Roosevelt Row attracts a vibrant mix of artists, students, professionals, and entrepreneurs, and this is the only property currently available for sale within this zoning. Don’t miss out on one of the last remaining urban-core infill sites with built-in income and major vertical potential.