16601 N 31st St - Infill Residential Development 1.96 Acres of Residential Land Offered at $999,000 in Phoenix, AZ 85032

Positioned in one of Phoenix’s most desirable infill corridors, this 1.95-acre parcel at 16601 N 31st Street offers a rare opportunity for developers and investors seeking a prime site with exceptional flexibility. Located at the northeast corner of 31st Street and Aire Libre, the property benefits from R-3 zoning complemented by approved P-1 and C-3 uses, unlocking potential for multifamily, commercial, or mixed-use development. This strategic entitlement mix provides a competitive edge for projects that cater to the area’s growing demand for residential and retail spaces.
The site is fully served by essential utilities, including APS electric, Cox fiber connectivity, and City of Phoenix water and sewer, ensuring streamlined development timelines. Its infill positioning places future projects within minutes of major employment hubs, retail centers, and established neighborhoods, creating a strong foundation for sustained absorption and value growth. With Phoenix’s robust population growth and pro-business climate, this parcel stands out as a high-impact investment in a market known for long-term stability and upside potential.
Surrounding amenities include convenient access to major thoroughfares, abundant retail options, and proximity to top-rated schools, making this location ideal for multifamily or community-oriented developments. Investors will appreciate the property’s visibility and accessibility, which enhance its appeal for commercial ventures as well.