Development Potential - Zoned R-5. Duplex built in 1926 on a 8,700 square foot lot (0.2 acres) in the Oakland subdivision. Each unit includes 2 bedrooms and 1 bathroom. The property also includes a detached residential garage. Construction is masonry and reinforced concrete tilt up frame. Both units are currently leased and produce rental income. Zoning is R-5 (multiple family residential), and the lot sits directly beside 324 N 18th Ave, a single family home under the same seller. Purchased together, the two parcels total 0.4 acres of R-5 land, positioned for redevelopment into multiple rental units. 324 N 18th Ave and 326 N 18th Ave sit side by side, share R-5 zoning, and total 0.4 acres. Both properties generate income under current use, which lets a buyer hold and collect rent while pursuing entitlements. A developer building to R-5 density standards could redevelop the combined site into as many as 10 rental units, 5 per parcel. Confirm current development standards, parking requirements, and permitted density with the City of Phoenix Planning and Development Department before finalizing a redevelopment plan. Buyer to perform all due diligence.
Listed By
Agency Name: Cadaci Realty
Agency Phone: 623-866-4221
Shown By
Agent Name: Heather Kalita
Agent Phone: (630) 991-8338
Agency Title: Arizona Best Real Estate
Estimated Payment
$ 1,058.30 per month $867.30 Principal & Interest $77.33 Property Tax $113.66 Homeowner's Insurance
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326 N 18th Avenue | MLS# 7055964
This multi-family property located at 326 N 18th Avenue, Phoenix, AZ 85007 is currently listed for sale with an asking price of $389,700. N 18th Avenue is located within the Phoenix Union High School District school district. Search Phoenix real estate on hkalita.arizonabest.com today.