903 Roosevelt St Phoenix, AZ 85006
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 903 Roosevelt St
- Property type
- Commercial real estate
Description
This exceptional .36-acre corner lot in Downtown Phoenix, at the hard corner of 9th Street and Roosevelt Street, is approved for a 23-unit multifamily building. The property's strategic location offers unparalleled access to Arizona State University's downtown campus (0.7 miles), boasting over 75,000 students. Residents will enjoy proximity to the Roosevelt/Central Phoenix Metro Light Rail station, fostering easy commutes. The approved plans include 23 modern one-bedroom, one-bathroom units, each featuring private balconies, in-suite washer/dryers, and a rooftop entertainment area complete with sunshades, a BBQ station, and cornhole. This vibrant neighborhood is brimming with popular restaurants like Gallo Blanco and Welcome Diner, along with renowned entertainment venues such as the Orpheum Theater. Civic Space Park is also within walking distance. The property benefits from excellent freeway access via Interstates 10 and 17, connecting to Phoenix Sky Harbor International Airport and surrounding cities. Downtown Phoenix's robust economy, with over 11.4 million square feet of office space and billions invested in recent years, ensures strong rental demand and low vacancy rates. This is a rare opportunity to capitalize on the thriving Downtown Phoenix market, with approved plans ready for immediate development. The asking price is $1,575,000.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.061826
- Latitude
- 33.458508
