1061 W 5th St Unit 3 Tempe, AZ 85281

Awesome opportunity to build housing a mile from ASU! This project includes all 4 lots plus approved plans for 3 homes plus easement from 5th St done! Possibility of 4 homes with rezoning to R4 which is already on the Master Community Development plans. The other 3 APN's are 124-36-188, 124-36-189, and 124-36-191. All 4 lots total 0.24 AC and are being sold including approved plans - currently expired - needs renewing. Whatever you build, the footprint of the buildings should not cover more than 5000sf with max height - 30 feet. Please check with Lucas at City Planning before writing offer - prior escrow fell out because they did not check with Lucas during DD period. Parents are selling this land after son moved out of state and they (continued in Supplement) cannot finish project without him being here. Updated info seller found out from Tempe City Planning FYI. (Please verify for yourself of course - not to be relied upon.) He said the property is now zoned R3 but could be changed to R4, with preliminary review and a rezoning application. On the Master Community Development plans they already have property as an R4, so it may not be as extensive to change it from R3 to R4, which would expand the number of units (if buyer wants to apply for the rezoning). Seller also learned that if garages were part of the footprint sq ft, it could lend itself to be 4 units rather than 3 units, because of the parking ratio. Hurry before someone else grabs this!