3146 E Angela Dr, Phoenix, AZ, 85032

3146 E Angela Dr Phoenix, AZ 85032

FOR SALE
Property Type:
Multifamily Land
Amount:
$1,975,000
Last Verified:
Dec 19, 2022

Highlights

  • Unapproved conceptual drawings provide for a 2-story, 24-unit (2-bedroom) apartment building.
  • Predominately residential area with commercial developments closer to Bell Road & Union Hills Road.
  • Highly attractive location with transportation ease to Kierland/Scottsdale Airpark and I-17/Deer Valley.

Description

R.O.I. Properties is pleased to offer this strategically located 1.55 AC multi-family redevelopment opportunity in the Northeast Phoenix submarket for sale. The property's zoning is 80% medium-density multi-family (R-3) and 20% general commercial (C-3). The property is currently used as a custom stone supplier, Architectural Stone Elements, and also has three single-family homes on the parcel adjacent to Saint John Road (APN: 214-03-123). The surrounding area is predominately a residential area with nearby multi-family developments and other recently completed commercial redevelopments closer to Bell Road & Union Hills Road along 32nd Street. This is an excellent opportunity to acquire a rare multi-family development opportunity just west of the SR-51. The properties submarket, The Northeast Phoenix submarket, through 2022, has continued to see strong multi-family sale transactions in addition to a plethora of commercial and multi-family development centered around 32nd Street & Bell Road.

MF Redevelopment Land

Lot Size: 1.55 acres

Map of 3146 E Angela Dr, Phoenix, AZ, 85032

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.