Current Price:$2,495,000List Date:3/22/2023Last Modified:5/09/2023
This is more of a redevelopment play, although the property is very livable as-is The main house is 2928 sf, 3BR+Office, 2 BA, 2CG+laundry room. Second house is 2110 sf, 2BR+Offixe, 2 BA, 3CG+laundry. Third house is 720 sf, 1/1+laundry. 4th house is 756 sf, 1/1. Workshop is 1882 sf. Click ''MORE'' link to see the redevelopment overview and document tabs for due diligence items.
Supplements: The Residences at Westgate is a 37-unit multifamily development opportunity on 2.27 acres of vacant land in the vibrant West Valley. Residences at Westgate is going through the process of obtaining zoning and site plan for 37 units and is well along in the process. The property is located less than a mile from one of the hottest areas in the entire Valley including the Westgate Entertainment District and State Farm Stadium. It is also minutes away from some of the biggest commercial projects in the state including the VAI Resort (biggest hotel in Arizona) and the massive Desert Diamond Casino development. This area will prove to be one of the most exciting locations in all of Arizona hosting past and future Super Bowls (1996, 2008, 2015 and 2023), as well as NCAA Final Four events (2017 and 2024). The area also boasts amazing commercial projects that attract locals and tourists alike, including Top Golf, Tanger Outlet Mall, Bass Pro Shop / Cabela's, and much more. This location is as prime as it gets in the West Valley, allowing residents to enjoy, with ease, so much of what the area has to offer. With many dining, shopping, and entertainment options, as well as multiple freeway access points within minutes, this property will prove to be a phenomenal development opportunity. The Residences at Westgate offers a developer a prime development opportunity in a fantastic location. The well-planned project consists of (3) 1-bed + den / 2.5-bath units, (12) 2-bed / 2.5-bath units, and (22) 3-bed / 2.5-bath units. The units are 2 stories with attached one and two car
garages. The project will be gated and will feature beautiful amenity spaces with a pool, sport court, dog park, tot lot, walking path, etc. The units themselves have nice, functional, spacious floor plans with interior laundry rooms and walk-in closets. The site currently has 4 homes and a large workshop on the property with a solid tenant and good income in place, giving an investor a "covered land play" if desired. The West Valley is exploding with industrial development, bringing thousands of jobs and a need for housing. This development opportunity offers an investor a more boutique sized deal with a quaint feel, nice amenities, great floorplans and beautiful architecture allowing the developer to set themselves apart from the traditional garden style development that is so common in the west valley. This "infill" location should prove to be extremely attractive to renters whose job brings them into the city. The location, size and design of this project offers an investor a very attractive development opportunity in the heart of one of the most vibrant areas in all of Arizona.
More Information MLS# 6534505
Status Change Date: 2023-05-09List Price: $2,495,000Status: PendingCurrent Price: $2,495,000List Date: 2023-03-15Type: EROwnership: Fee SimpleSubagents: NBuyer/Broker: YBuyer Broker $/%: %Comp to Buyer Broker: 2Variable Commission: N
Dwelling Type: Single Family - DetachedDwelling Styles: DetachedExterior Stories: 1# of Interior Levels: 1# Bedrooms: 7# Bathrooms: 6.5Approx SQFT: 2762Price/SqFt: 903.33Horses: YBuilder Name: UnknownYear Built: 1960Lead Based Hazard Disclosure: NoApprox Lot SqFt: 98878Approx Lot Acres: 2.27Flood Zone: NoPool: NoneElementary School: Cotton Boll SchoolJr. High School: Cotton Boll SchoolHigh School: Peoria High SchoolElementary School District: Peoria Unified School DistrictHigh School District: Peoria Unified School District
Remarks & Misc
Cross Street: 83rd Ave. and GlendaleDirections: West to the property on the north side of the street.Geo Lat: 33.538618Geo Lon: -112.24557
Status Change Info
Off Market Date: 2023-05-09Under Contract Date: 2023-05-08