Description

Transwestern has been exclusively retained as the advisor on the sale of this multifamily development site located near the intersection of Indian School Road and 32nd Street, in Phoenix, Arizona. The sites is situated near the Camelback Corridor and are currently zoned R-4 and R-3 multifamily residential. The property provides an excellent opportunity as investment property or for development as a multifamily project. The properties is available individually or as a portfolio with another site just south of the subject at Clarendon Avenue and 30th Street.

The site is located on 30th Street and Fairmont Avenue. The property is situated near Camelback Mountain and is 1.5 miles east of US-51 Freeway. Given the infill location of the property and relation to significant employment demand throughout Central Phoenix and the Camelback Corridor, this site is ideal for a new multifamily development.

The property totals approximately 54,169 net square feet or 1.25 acres (~78,890 gross square feet). This parcel is currently zoned City of Phoenix R-4 and R-3, which allows for medium density residential development. Based on current zoning and gross square footage, this site will allow for the construction of approximately 52 total units. The surrounding neighborhood is well established and highly conducive to future development of a luxury community.