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Kirk Linehan

kirk@linehanwade.com +1(480) 486-7706

$ 900,000

Est. payment -/mo

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421 W 5TH Street #6 Tempe, AZ 85281

8,375 Sqft Lot

UPDATED:

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

Subdivision Orth Subdivision

MLS Listing ID 6863351

HOA Y/N No

Originating Board Arizona Regional Multiple Listing Service (ARMLS)

Annual Tax Amount $1,347

Tax Year 2024

Lot Size 8,375 Sqft

Acres 0.19

Lot Dimensions 50 x 168

Property Description

Calling all investors and builders/developers!! This is a VERY RARE opportunity to own a property just a few blocks away from Mill Ave!! Located on one of the best streets - 5th St! Great R3 zoning! Large 8,300+ sf lot! New construction abounds! Urban infill at its best! - there is a new 50m+ upscale mid-rise project directly across the street that is just being completed! And less than 100 yards to the east is Farmer Ave, where hundreds of millions have been spent on a variety of commercial, multifamily, and mixed used developments, including the new Westin Vib hotel! Only a block to the Tempe Streetcar, which connects to the Light Rail, which is less than 2 min away! Walk to ASU, Mill Ave, Tempe Town Lake and more! This is a GREAT AREA R-3 ZONING, large/deep lot!! Perfect location for new condos/townhomes to build and sell. This is also a Great location to build luxury townhome rentals for students! There are models with 4 bed/5 bath that builders are constructing with huge cash flow and they are much further away from ASU and Mill Ave etc. Zoning should allow for 3 units but check with city as owner/agent makes no guarantees. Imagine the views from the 3rd floor rooftop balconies of the West 5 towers and the Tempe skyline, plus the mountain views!! At 900k that's just 300k per unit land cost (if you build 3 units)!

The home on this property was updated in 2021 when the current buyer purchased it, and it's currently rented for 2,250/mo, it's a mo to mo lease, tenants have been there for since current owner purchased the home. Drive by only, do not disturb the tenants! Thank you!!

5 min to 202 Freeway, 10 min to Sky Harbor Airport, 15 min to downtown Phoenix, and much more!

Location

State AZ

County Maricopa

Community Orth Subdivision

Zoning R-3

Direction From Mill Ave, take 5th St, go 3 blocks west and the property is the 3rd property on your left past Farmer Ave.

Exterior

Fence Block, Chain Link

View City Lights, Mountain(s), City

Topography Level

Building

Lot Description See Remarks, North/South Exp

Sewer Public Sewer

Water City Franchise

New Construction No

Schools

Elementary Schools Scales Technology Academy

Middle Schools Geneva Epps Mosley Middle School

High Schools Tempe High School

School District Tempe Union High School District

Others

Senior Community No

Tax ID 124-33-006

Acceptable Financing Cash, Conventional

Horse Property N

Listing Terms Cash, Conventional

Special Listing Condition FIRPTA may apply

Listed by Windermere Real Estate & Property Management

Kirk Linehan

Partner | Realtor®

+1(480) 486-7706

Kirk Linehan

421 W 5TH Street #6 Tempe, AZ 85281

Key Details

Location

Exterior

Building

Schools

Others

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421 W 5TH Street #6