Apartment Redevelopment
For Sale
Contact for pricing
536 East Portland Street, Phoenix, AZ 85004
Redevelopment site with an existing 32-unit complex and plans for a 103-unit luxury apartment development.
Property SizeContact for details
Days on Market135
Property Features for 536 East Portland Street
General Information
Standard status
Active
Property subtype
Multifamily, Land
Additional Details
Multifamily Units
32
Listing Agency:
KW Commercial Integrity First Realty -- Mesa/Gilbert
Listed By:
Brock Danielson · License #AZ BR514988000
Source:
Crexi
Added: Apr 10
Changed: Aug 8
Last Checked: Jul 21 at 6:24AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial Integrity First Realty -- Mesa/Gilbert
Investment Insights
Based on property information with market context.
This redevelopment opportunity at the corner of 7th Street and Portland includes an existing 32-unit complex and a proposed highly efficient, modern 103-unit luxury apartment development. The redevelopment is described as “LEX on Portland,” designed by Humphrey’s and Partners Architects, with associated financials referenced in the materials for “Existing 32 Unit Complex” and “New Construction Stabilized.”
The property is located within the Artisan Arts District of downtown Phoenix. The remarks describe proximity to downtown dining and cultural attractions, including walking distance to the Heard Museum and the Phoenix Art Museum, and a light rail location approximately 3 blocks away.
As presented in the offering narrative, unit options include one- and two-bedroom layouts, and the community amenities listed include a fitness center, rooftop swimming pool, outdoor grilling area, and a game room.
The property is located within the Artisan Arts District of downtown Phoenix. The remarks describe proximity to downtown dining and cultural attractions, including walking distance to the Heard Museum and the Phoenix Art Museum, and a light rail location approximately 3 blocks away.
As presented in the offering narrative, unit options include one- and two-bedroom layouts, and the community amenities listed include a fitness center, rooftop swimming pool, outdoor grilling area, and a game room.
Key Highlights
- Redevelopment site at the corner of 7th Street and Portland in downtown Phoenix within the Artisan Arts District
- Existing 32‑unit apartment complex on the site (Lexington Apartments)
- Plans for a 103‑unit luxury apartment development (LEX on Portland)
Property Analytics
Property Profile
Current Use
Lease Details
32
Residential units
Location Intelligence
Trade Area within ½ mile
4,697
Businesses Nearby
Explore this area
Business Placement
Demographics for 85004, AZ
8,833
Population
6,455
Households
1.4
Avg Household Size
32
Median Age
59%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
4,206
Density / Sq Mi
$71,250
Median Household Income
$46,376
Median Earnings
$1,759
Median Rent
$365,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Redevelopment site with an existing 32-unit complex and plans for a 103-unit luxury apartment development.
Where is this apartment building located?
The property is located at 536 East Portland Street Phoenix, AZ.
What are key features of this property?
This property features: Redevelopment site at the corner of 7th Street and Portland in downtown Phoenix within the Artisan Arts District; Existing 32‑unit apartment complex on the site (Lexington Apartments); Plans for a 103‑unit luxury apartment development (LEX on Portland)
