$2,999,000

Estimated payment $16,429/month

Total Views 3,369
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

About This Home

Discover an unparalleled opportunity in the heart of Midtown Phoenix's Melrose District with this extraordinary 2.43-acre parcel of land, presenting a prime multifamily builder opportunity. Boasting approved plans for a 39-unit condominium/apartment building, this property is poised for immediate development. Special financing terms make this venture even more enticing, and with a remarkable 83 Walk Score, future residents will enjoy convenient access to a plethora of amenities. Don't miss out on this chance to shape the landscape of the vibrant Melrose District. Inquire about special seller financing! This is a rare and promising investment opportunity that awaits your vision and creativity.

Listing Agent

Joel Chacko

Griggs's Group Powered by The Altman Brothers License #BR678651000 Listed on: 06/27/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $109

Year Built

  • 2026

Schools

  • Encanto Elementary School
  • Osborn Middle School
  • Central High School

Utilities

  • Heating Available

Listing and Financial Details

  • Tax Lot 152
  • Assessor Parcel Number 155-33-291

Community Details

Overview

  • Building Dimensions are Irregular
  • Park Fifth Avenue Condominiums Subdivision

Building Details

  • Operating Expense $109

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$109

Year Built

2026

Lot Details

0

Listing Details

  • Cross Street: W GLENROSA AVE & N 5TH AVE
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-4
  • Ownership: Condominium
  • Year Built: 2026
  • Tax Year: 2024
  • Directions: FROM CENTRAL AVE HEAD WEST ON GLENROSA AVE, RIGHT ONTO 5TH AVE. PROPERTY IS ON LEFT.
  • Road Surface Type: Asphalt
  • Subdivision Name: PARK FIFTH AVENUE CONDOMINIUMS
  • Water Source City Franchise2: Yes
  • Special Features: NewHome
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Other
  • Appliances: Other
  • Appliances Included:Other (See Remarks)56: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: See Remarks
  • Roof: Other

Garage/Parking

  • Parking Features: None
  • Attached Garage: No

Utilities

  • Electric: APS
  • Cooling: See Remarks
  • Heating: Electric
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: Other

Association/Amenities

  • Interior Amenities:Other (See Remarks)51: Yes
  • Exterior Amenities:Other (See Remarks)58: Yes

Schools

  • Elementary School: Encanto School
  • High School: Central High School
  • Junior High Dist: Phoenix Union High School District
  • Middle Or Junior School: Osborn Middle School

Lot Info

  • Lot Size: Irregular
  • Additional Parcels: No
  • Parcel #: 155-33-291

Multi Family

  • Owner Pays: Other
  • Annual Operating Expense: 109.0

Tax Info

  • Tax Annual Amount: 109.0
  • Tax Book Number: 155.00
  • Tax Lot: 152

Map

Range of Values:

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Average Value
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $109 $868 $868 --
2024 $105 $827 $827 --
2023 $105 $1,200 $1,200 $0
2022 $105 $750 $750 $0
2021 $112 $750 $750 $0
2020 $117 $825 $825 $0
2019 $112 $2,130 $2,130 $0
2018 $108 $1,620 $1,620 $0
2017 $99 $1,320 $1,320 $0
2016 $96 $1,590 $1,590 $0
2015 $95 $640 $640 $0
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/27/2025 06/27/25 For Sale $2,999,000 -- --
Source: Arizona Regional Multiple Listing Service (ARMLS)

Purchase History

Date Type Sale Price Title Company
Cash Sale Deed $84,000 Driggs Title Agency Inc
Cash Sale Deed $4,780 Accommodation
Cash Sale Deed $750,000 Capital Title Agency Inc
Quit Claim Deed -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $467,875 Unknown
Previous Owner $4,537,000 Unknown
Previous Owner $1,070,000 Purchase Money Mortgage
Previous Owner $1,070,000 Unknown
Source: Public Records

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6886048

Arizona Regional Multiple Listing Service (ARMLS)

APN: 155-33-291