3130 N 37th St Phoenix, AZ 85018

Three Pines Apartments is an 8 unit multi-family offering sitting on two (2) tax parcels which total 40,142 square feet- or 0.92 Acres. With this desirable Arcadia Lite / Citrus Acres location this offering represents a prime redevelopment opportunity. While there are 8 rental units on the property, the condition and functionality of the improvements may not qualify as a viable 'value-add' effort. The nearly 1 acre lot size with R-3 zoning may best be suited for redevelopment. Offered at a price of $18.68/sf the scraped lot would allow the developer a low enogh land cost basis to build contemporary townhomes or apartments able to compete for the growing demand for modern living space in this desirable Arcadia Lite neighborhood.