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    1141 Monterosa St Phoenix, AZ 85013

    For Sale
    $1,250,000

    Permit-ready, 0.472-acre lot in midtown.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 0.472-acre commercial lot, located at 1141 W Monterosa St in Phoenix, Arizona (zip code 85013), presents a unique investment opportunity. Situated in the desirable Woodlea Historic District, near the vibrant Melrose District, this property is zoned R-5 and offers significant potential for development. The site is already approved for an 18-unit, four-story garden-style apartment building, designed with a contemporary aesthetic and mid-century influences. Plans call for 18 well-appointed 600-square-foot, one-bedroom, one-bathroom units. The property's central location in midtown Phoenix provides easy access to a variety of amenities, businesses, and transportation options. This permit-ready project eliminates significant pre-construction hurdles, allowing for a streamlined development process. The asking price for this exceptional property is $1,250,000. Don't miss this chance to acquire a prime piece of land in a thriving Phoenix neighborhood. Maricopa County location.

    Property Features for 1141 Monterosa St

    General Information

    Property type
    Land
    Lot Size
    20,560 SF

    HighLights

    • $1,250,000 asking price.
    • 0.472‑acre commercial land parcel.
    • R‑5 zoning.
    • Located at 1141 W Monterosa St, Phoenix, AZ 85013.
    • Permit‑ready 18‑unit multifamily development project.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.08884563
    Latitude
    33.49581331

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    FAQs

    What type of property is this?
    Land - Permit-ready, 0.472-acre lot in midtown.
    Where is this land located?
    The property is located at 1141 Monterosa St Phoenix, AZ.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: $1,250,000 asking price.; 0.472-acre commercial land parcel.; R-5 zoning.
    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
    1141 Monterosa St Phoenix, AZ 85013
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