1010 N 18TH Street, Phoenix, AZ 85006, Phoenix, 85006 - 2 bed, 2 bath
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Phoenix, AZ 85006
This property presents a High-Potential Investment Opportunity with a List Price of $269,000—positioned well below the $127,274 Fair Market Value by -111%. Featuring R-4 Multi-Family Zoning on a 7,253 sq ft lot, this Asset is primed for a 3-unit compound development. With a Condition Rating of 6, the structure requires significant capital, yet its location in a Qualified Opportunity Zone (QOZ) offers substantial tax incentives. This is a strategic acquisition ideal for Real Estate Developers or Buy-and-Hold Investors seeking high-yield urban redevelopment.
Property is land value only, full reconstruction required.
Built in 1928 with no recorded renovations in over 50 years. The listing explicitly states the value is in the land utility and R-4 zoning for redevelopment. Images show significant exterior neglect, exposed structural elements, and dated roof-mounted systems, indicating the structure is likely at the end of its economic life.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7253, living area = 1264.
The R-4 Multi-Family zoning on a 7,253 sq ft lot allows for up to four units, offering exceptional land utility and a ready-made concept for a high-yield three-unit compound.
Located in a QOZ, the property provides significant tax advantages and capital gains incentives, making it a highly attractive play for long-term investors and developers.
The 1928 structure is sold in as-is condition, requiring a substantial capital injection for either a total renovation or demolition to facilitate new construction.
While concept plans are available, the buyer assumes the responsibility and risk of finalizing city entitlements and approvals to realize the full development potential.
Investor & Developer Goldmine in the Heart of Phoenix! The true value of this property lies in its exceptional land utility and premium location. Sitting on a 7,253 sq ft lot with R-4 Multi-Family zoning, this site is legally capable of hosting up to 4 units. The current sellers have already met with the City of Phoenix and laid the groundwork for a premium concept plan: building two brand-new townhomes while converting the existing structure into a third, creating a high-yield 3-unit compound. Concept plans and preliminary designs are ready for review. The sellers are actively working on finalizing these entitlements; buy now at $269,000 in As-Is condition before the price increases once entitlements are fully secured. Highly attractive for investors looking to deploy c capital gains, this property is situated within a Qualified Opportunity Zone (QOZ), with adjacent parcels along Portland Street sharing the same active status. Alternatively, choose to rehab and flip the existing structure in this rapidly up-and-coming neighborhood. The current detached character home features 2 bedrooms, 2 bathrooms, and 1,264 sq ft of potential. Unparalleled urban convenience--just minutes from the Loop 202 and I-10 freeways, downtown dining, nightlife, and schools. Opportunity knocks loud here--bring your vision and capture the upside!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 1,264 | - |
| Lot Size | 7,253 | - |
| Price | $250.0K | $495.4K |
| Price per sq ft | $198 | $290 |
| Built year | 1928 | 0 |
| HOA | $0 | $0 |
| Days on market | 61 | 1260 |
May 22, 2026
$269,000
Initial Listing