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20
Photos
2
beds
1
bath
1,465
sqft
Built in
1906
Sale includes 917 & 921 N 8th St. 8th & Roosevelt consists of a historic home and additional land for development, located in the heart of the Garfield Historic District. The property sits on approximately a half-acre (gross) of land that is zoned R-5. The seller has a site plan to add (11) 1-bedroom units and (2) 2-bedroom units along with amenity space between the new units and the existing historic home. This would be a perfect small apartment community or short-term rental building in a ''Melrose Place'' type setting in downtown Phoenix. This is a fantastic, bite-sized opportunity for the seasoned investor or a local creative / artistic developer who wants to do a unique, fun project in the heart of one of the busiest, most dynamic, and eclectic areas in the entire Valley. 8th & Roosevelt is an awesome value-add / development opportunity in the heart of Downtown Phoenix. The property is located just east of 7th Street right off of Roosevelt in the heart of the gentrifying Garfield Historic District. Roosevelt and 7th Street is the east entrance to the happening Roosevelt Row district in the epicenter of Downtown Phoenix. It is minutes to the stadium district and a short bike ride / walk to the downtown ASU campus, Phoenix Burton Barr Library, and the Phoenix Art Museum. It is also minutes to Margaret T. Hance Park, which is the location of hundreds of activities including the McDowell Mountain Music Festival and many weekend food / craft festivals throughout the year. It is approximately a half mile to the I-10 Freeway to allow quick and easy access to all parts of the valley. This location is as central is it gets and allows residents to enjoy, with ease, so much of what Downtown and Midtown have to offer. With many dining, shopping, and entertainment options, as well as multiple freeway access points within minutes, 8th & Roosevelt Redevelopment Opportunity will prove to be a great place for residents to live as well as will be a very attractive parcel for a future class-A redevelopment in an A location. Phoenix is consistently on every national list for net influx of people and jobs, and the downtown area is expected to continue to explode with huge job growth in many different sectors; with Arizona State University's downtown campus rapidly expanding (already over 11,000 students and rapidly growing); with massive amounts of biotech investment and development in the area (the new Creighton University is approximately 2 miles away in midtown; the Phoenix Biomedical HUB is a couple blocks away; the stadium district is minutes away; the warehouse district is exploding around the corner to the south; and more). Opportunities like 8th & Roosevelt are rare and offer an investor a great value-add opportunity in one of the most active and desirable areas in the country.
Features & Amenities
Interior
- A/C:
- See Remarks
- Heating:
- See Remarks
- Fireplace:
- Other (See Remarks)
Exterior
- General:
- None
- Pool:
- None
Construction
- Roofing:
- See Remarks
- General:
- See Remarks, Brick
Location
- HOA Amenities:
- Other, Other (See Remarks)
- Originating MLS:
- Arizona Regional Multiple Listing Service 2
- School District:
- Phoenix Elementary District
- County:
- Maricopa
Lot
- Zoning:
- 11632064
- Fencing:
- Other, Chain Link
Utilities
- Utilities:
- Other (See Remarks)
- Water:
- City Water
- Sewer:
- Public Sewer
Financial
- Source:
- Arizona Regional Multiple Listing Service 2
This listing courtesy of:
ABI Multifamily, John Klocek
Monthly Payment
Disabled 10% or more?
Used a VA Loan before?
Eligible for BAH?
Do you have dependents?
Your BAH amount is for the military housing area.
Loan term (number of years)
Property taxes are generally around 1.2% of the home’s value, but may vary based on location.
Annual homeowners insurance is typically 0.35% of the home’s value but can vary based on insurer.
$---
Est. Payment *
- Principal & Interest $--
- Taxes $--
- Insurance $--
- VA Funding Fee $--
$--- Est. Payment - $--- BAH = $--- Remaining
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About Phoenix, AZ
Housing
- Number of Units
- 596,932
- Median Home Value
- $290,395
- Median Rent
- $952
46.44% of housing units are renter occupied.
7.47% are vacant.
Commute
- Car
-
66.98%
- Public Transportation
-
2.21%
- Walk to Work
-
1.46%
- Work from Home
-
27.70%
- Other
-
1.05%
The median travel time to work is 21 minutes.
People
- Population
- 1,489,498
- Median Age
- 35.00
- Median Household Size
- 2.88
Education
- High School
-
22.87%
- Associate’s Degree
-
7.80%
- Bachelor’s Degree
-
18.93%
- Graduate Degree
-
10.95%
Disclaimer: Community and Demographic information uses data from the U.S. Census Bureau but is not endorsed or certified by the Census Bureau.
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