6791551 (2905 E Grovers Ave): $460,000
6791549 (2700 E Greenway Pkwy): $540,000
Marcus & Millichap is pleased to present Greenway & Grovers (combined 30-unit apartment homes), two prime multifamily development opportunities in the established North Phoenix submarket. Both sites have been entitled and are currently in the building review phase with the city of Phoenix. Greenway (16-units) offers a combination of two- and three-bedroom floorplans averaging ±1,332 square feet, and Grovers (14-units) offers a combination of two- and three-bedroom floorplans averaging ±1,347 square feet, on low density site plans. The scarcity of developable land in this submarket creates high barriers to entry, underscoring the exclusivity of the North Phoenix location and promoting long-term rent growth prospects. With an average single-family home price of ±525,000 within a three-mile radius the rent-vs-own affordability gap supports sustained renter demand that is anticipated to continue.
Strong area demographics further enhance the investment potential, boasting an average household income of $92,445 and a median household income of $69,395, with 65% of residents occupying white-collar professions. Additionally, the highly anticipated Taiwan Semiconductor Manufacturing Company (TSMC) marks the largest direct foreign investment in Arizona's history, which is expected to create thousands of high-quality jobs and drive economic growth. Additionally, a robust healthcare presence supported by numerous medical centers and hospitals in the vicinity promote a durable employment base.
Property Details
Property Features
Listing Office:
Office Name: Marcus & Millichap
Office Phone: (602) 687-6700
Listing Agent: Christopher Paul Bay
Lot Features
Lot Information:
Lot Size: 0.84 Acres
Price Information
Listing Price Info
Price Summary:
List Price: $460,000
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Housing Market Comparison
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
3
/10
Campo Bello Elementary School
2625 E Grovers Ave
Distance between this listing and this school0.32 miles
Public District Grades KG-6
2
/10
Palomino Primary School
15833 N 29th St
Distance between this listing and this school1.06 miles
Public District Grades PK-3
9
/10
Quail Run Elementary School
3303 E Utopia Rd
Distance between this listing and this school1.14 miles
Public District Grades KG-6
Nearby Schools
2
/10
Greenway Middle School
3002 E Nisbet Rd
Distance between this listing and this school1.67 miles
Public District Grades 7-8
5
/10
Mountain Trail Middle School
2323 E Mountain Gate Pass
Distance between this listing and this school3.30 miles
Public District Grades 7-8
5
/10
Sunrise Middle School
4960 E Acoma Dr
Distance between this listing and this school3.36 miles
Public District Grades 7-8
Nearby Schools
1
/10
Career Success Schools - STEM Academy 7-12
2321 E Bell Rd
Distance between this listing and this school0.89 miles
Public Charter Grades 7-12
9
/10
Aaec - Paradise Valley
3775 E Union Hills Dr
Distance between this listing and this school1.17 miles
Public Charter Grades 9-12
4
/10
Paradise Valley High School
3950 E Bell Rd
Distance between this listing and this school1.34 miles
The neighbors living near this home have an average income of $58,279. Most Phoenix, AZ residents have annual incomes between $35k-100k. Most families are single, no kids. The most common level of education of people living in this area is post secondary degree.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 2905 E Grovers Ave Unit 140
What is the listing price of this property?
The listing price of 2905 E Grovers Ave Unit 140 property is $460,000.
What type of property is this?
The property 2905 E Grovers Ave Unit 140 is land located in Phoenix, Arizona, 85032.
Is this property for sale now?
Active Listing: 2905 E Grovers Ave Unit 140 is For Sale (Active/New) which means the seller is accepting offers.
How much acreage is this property?
The property 2905 E Grovers Ave Unit 140 is 0.84 acres.
Interested in 2905 E Grovers Ave Unit 140? Let's connect.
By checking this box and submitting your personal information, you agree to our Terms of Use and Privacy Policy. You also expressly consent to having Rocket Homes Real Estate LLC, its Family of Companies, Rocket Homes Network Partners, and potentially our mortgage partners contact you about your inquiry by text message or phone (including automatic telephone dialing system, AI voice, or an artificial or prerecorded voice) to the residential or cellular telephone number you have provided, even if that telephone number is on a corporate, state, or national Do Not Call Registry. You do not have to agree to receive such calls or messages as a condition of getting any services from Rocket Homes Real Estate, LLC or its partners. By communicating with us by phone, you consent to calls being recorded and monitored. You also agree that we can share your personal data and contact information with third parties such as mortgage partners, partner companies, and affiliates, and that these parties may use your personal data and contact information for marketing and analytic purposes, and to improve your experience.
This home is located at 2905 E Grovers Ave Unit 140 in Phoenix, AZ and zip code 85032 in the Paradise Valley Village neighborhood. This home sits on a 0.84 acre lot. It has been listed on Rocket Homes since December 06, 2024 and is currently priced at $460,000.
While more than 201 listings in Phoenix, AZ in November 2024 were sold above asking price, there were more than 301 listings sold at asking price, and more than 636 were sold below. The inventory of homes for sale in Phoenix, AZ between October 2024 and November 2024 decreased by 1.4%. In November 2024, listings were on the market for 63 days. During the same period, the median list price in this real estate market was $452,345.
From Rocket Homes Real Estate and based on county public records data.