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2524 E Washington St 0.76 Acres of Commercial Land Offered at $1,500,000 in Phoenix, AZ 85034
Investment Highlights
- 5 contiguous parcels spanning East Washington St and East Adams St offering flexible site planning for a unified development
- Within 1 mile of major employment centers, including Phoenix Sky Harbor Airport and ValleyWise health Medical Center
- Direct light rail access to Downtown Phoenix, Tempe, Mesa and Phoenix Sky Harbor Airport
- Ideal for small to midscale multifamily development, supported by walkable-urban zoning designed to encourage transit-oriented housing
- Daytime population is 50%-90% higher highlighting a significant need for affordable workforce housing
Executive Summary
The area is supported by strong employment fundamentals. Sky Harbor Airport and ValleyWise Health Medical Center—both located within one mile—serve as major employment anchors generating consistent housing demand for workers across a range of income levels. The surrounding daytime population is reported to be 50–90% higher than the total residential population within three miles, signaling a significant imbalance between where people work and where they live. This gap highlights a clear opportunity and ongoing need for attainable and workforce housing in the immediate area.
With its transit-rich location, flexible walkable-urban zoning, major employment proximity, and strong demonstrated need for residential density, this site is exceptionally positioned for a multifamily or mixed-use development that supports Central Phoenix’s continued growth and housing demand.
Property Facts
1 Lot Available
Lot
| Price | $1,500,000 | Lot Size | 0.76 AC |
| Price Per AC | $1,973,684.21 |
| Price | $1,500,000 |
| Price Per AC | $1,973,684.21 |
| Lot Size | 0.76 AC |
This level infill development site, consisting of five contiguous tax parcels—three fronting East Washington Street and two on East Adams Street—offers an exceptional opportunity for a boutique or mid-scale multifamily project in the heart of Central
Description
This level infill development site, consisting of five contiguous tax parcels—three fronting East Washington Street and two on East Adams Street—offers an exceptional opportunity for a boutique or mid-scale multifamily project in the heart of Central Phoenix. Its dual-street frontage enhances design flexibility, circulation, and site planning efficiency, making it highly suitable for urban residential, mixed-use, or live-work configurations. The property is zoned WU T:4.3 and WU T:5.5, both part of Phoenix’s Walkable Urban Code, allowing for medium- to high-density multifamily development, retail, office, and live-work units in a pedestrian-oriented environment. This zoning supports building heights up to 100 feet, enabling developers to maximize density and create housing aligned with modern urban-living demand. The Walkable Urban designations encourage street-activated uses, transit-oriented development, and higher-intensity residential projects—an ideal framework for new multifamily construction.
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $19,655 | Total Assessment | $19,655 |
Property Taxes
Presented by
2524 E Washington St
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