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    833 2Nd Ave Phoenix, AZ 85003

    Sponsored
    For Sale
    $1,155,000

    Prime 0.24-acre lot, high-density zoning.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 0.24-acre lot, located at 833 N 2nd Ave in Phoenix, Arizona (APN 111-40-082), presents a remarkable development opportunity in the heart of Downtown Phoenix. The property is situated just south of Roosevelt Street and directly adjacent to the renowned Roosevelt Row Arts District, a vibrant cultural center celebrated for its thriving art galleries, distinctive street art, diverse culinary scene, lively nightlife, and burgeoning residential growth. The lot encompasses 10,500 square feet and is zoned DTC-E-ROO under the Downtown Code – Roosevelt East. This zoning designation permits a high density of up to 43.5 dwelling units per acre (DU/AC) and allows for a maximum building height of 65 feet. This presents developers with an unparalleled chance to create a significant multifamily project in one of Phoenix's most desirable and rapidly appreciating neighborhoods. The property's strategic location, combined with its favorable zoning, makes it an exceptional investment prospect for those seeking to capitalize on the ongoing revitalization and expansion of Downtown Phoenix. The asking price for this exceptional development opportunity is $1,155,000. This is a rare chance to acquire a prime parcel in a rapidly growing area.

    Property Features for 833 2Nd Ave

    General Information

    Property type
    Multifamily properties
    Lot Size
    10,454 SF

    HighLights

    • $1,155,000 asking price.
    • 0.24‑acre multifamily land parcel.
    • Located at 833 N 2nd Ave, Phoenix, AZ 85003 (APN: 111‑40‑082).
    • DTC‑E‑ROO zoning allows up to 43.5 dwelling units per acre and 65‑foot building height.
    • Prime location in the Roosevelt Row Arts District, offering high development potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Spa & Massage Dental Office Restaurant Hair Salon Nail Salon Building Supply Daycare Center Clothing Store Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.07603
    Latitude
    33.457921

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    FAQs

    What type of property is this?
    Multifamily property - Prime 0.24-acre lot, high-density zoning.
    Where is this multifamily property located?
    The property is located at 833 2Nd Ave Phoenix, AZ.
    What is the asking price?
    The asking price for this property is $1,155,000.
    What are key features of this property?
    This property features: $1,155,000 asking price.; 0.24-acre multifamily land parcel.; Located at 833 N 2nd Ave, Phoenix, AZ 85003 (APN: 111-40-082).
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    833 2Nd Ave Phoenix, AZ 85003
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