740 E PORTLAND Street, Phoenix, AZ 85006 (MLS# 6971372)

Project Type: 25 - 50 Units

Construction: Block; Other

Const - Finish: Other (See Remarks)

Roofing: Other

Floors: Other

Sale Includes: Land & Building

Community Features: Other

Exterior Amenities: Other (See Remarks)

Interior Features: Other (See Remarks)

Appliances Included: Other

Heating: Other

Cooling: Other

Water Source: City Franchise

Sewer: Sewer - Public

Electric: APS

Gas: SW Gas

Parking Features: Carport; Other

Road Surface Type: Asphalt

Owner Pays: Water; Trash Collection; Landscaping; Other

Tenant Pays: Electricity

Source of Fincl Data: Owner; Other (See Remarks)

Showing Notification Methods: Text; Email; Phone Call

Lockbox Type: See Private Remarks; None

Existing 1st Loan: Other (See Rmks)

New Financing: Cash; Conventional; 1031 Exchange; Other (See Remarks)

Environmental: None

...providing an amazing value-add opportunity in the future. The property is also currently located in the Opportunity Zone. Urban Gardens is a phenomenal multifamily investment property as well as a prime future development opportunity in Downtown Phoenix. The property is located just east of 7th Street, a block north of the famed Roosevelt Row district, less than a mile north of the stadium district, a short bike ride / walk to the Downtown Arizona State University campus (over 10,000 students and growing), the Phoenix Biomedical Campus, Phoenix Burton Barr Library, and the Phoenix Art Museum. Margaret T. Hance Park is just a short walk away and features hundreds of activities throughout the year including large music festivals and many weekend food / craft festivals. The property is also located minutes to the I-10 Freeway to allow quick and easy access to all parts of the valley. This location is as central as it gets and allows residents to enjoy, with ease, so much of what Downtown and Midtown have to offer. With many dining, shopping, and entertainment options, as well as multiple freeway access points within minutes, Urban Gardens will prove to be a great place for residents to live as well as will be a very attractive parcel to potentially add units in a Grade A location. Phoenix consistently has a large increase in population and jobs, and the downtown area is expected to continue to explode with huge job growth in many different sectors. Arizona State University's downtown campus is rapidly expanding (already over 10,000 students and rapidly growing) and massive amounts of biotech investment and developments have been developed in the area (the new Creighton University is less than two miles away in midtown and the Phoenix Biomedical Hub is two blocks away). Additionally major sports and entertainment hubs such as the Stadium District and Warehouse district are located just minutes away as well as many more. Opportunities like Urban Gardens are rare and offer an investor a great income producing property in a grade A location with the addition of a prime development opportunity in one of the most active and desirable areas in the country.