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- LoopNet Team
1117 E Spence Ave
Tempe, AZ 85281
K On Spence · Land For Sale
·
0.28 AC
INVESTMENT HIGHLIGHTS
- Fully Approved by City of Tempe and Ready to Build
- Rental rates in this area between $4,000-$5,000 per unit
- Houses in this area are going for $750,000-$800,000
- Walking distance to Arizona State University
PROPERTY FACTS
| Property Type | Land | Proposed Use | Multifamily |
| Property Subtype | Residential | Total Lot Size | 0.28 AC |
| Zoning | R-4 | ||
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Multifamily |
| Total Lot Size | 0.28 AC |
| Zoning | R-4 |
DESCRIPTION
ATTENTION INVESTORS/DEVELOPERS/BUYERS. Great Opportunity to build in the heart of Tempe. Lot has been rezoned into 6 lots and a full approved site plan to build 6 town home is ready to go. Building permits are ready to be pulled from the City of Tempe, one doesn't have to wait for years to get approvals. A minute or two walk to Arizona State University. You don't have to wait for years to get your project approved by the city. Each town home will be over 2000 SQFT. This lot has an amazing location with a huge upside potential. The brand new units this size in Tempe are selling between $750-$850k. This lot is also located in Qualified Tempe Opportunity Zone.
