1022 W Las Palmaritas Drive, Phoenix, AZ 85021, Phoenix, 85021 - 3 bed, 2 bath
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Phoenix, AZ 85021
This Prime Development Asset is listed at $800,000, representing a strategic entry into the prestigious Royal Palm Neighborhood. While the price sits above the $714,110 Fair Market Value, the valuation reflects the premium for the rare 13,726 sqft Irrigated Lot and its versatile "tear-down or remodel" potential. Currently holding a Condition Rating of 4, the property features a spacious kitchen and private patio, but requires significant modernization to reach the area's luxury standards. This high-upside project is an ideal acquisition for Fix-and-Flip Investors or Contractors looking to build a custom masterpiece near top-rated schools.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1022 W Las Palmaritas Drive Subject | $800,000* List Price | 3 | 2 | 1,783 | $401 | - |
A 526 W SELDON Lane Sold | $854,000 | 3 | 2 | 1,868 | $457 | 0.4 mi |
B 537 W El Caminito Drive Sold | $774,900 List Price | 4 | 3 | 1,962 | 0.3 mi | |
C 811 W LINGER Lane Sold | $915,000 | 3 | 2 | 2,255 | $406 | 0.5 mi |
D 8710 N 6TH Drive Sold | $650,000 | 3 | 2 | 1,534 | $424 | 0.5 mi |
E 330 W NORTHERN Avenue Sold | $850,000 | 3 | 2 | 2,378 | $357 | 0.5 mi |
F 330 W Northern Avenue Sold | $850,000 | 3 | 3 | 2,384 | $357 | 0.5 mi |
G 1302 W HAYWARD Avenue Active | $945,000 List Price | 4 | 2 | 1,922 | $492 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property is a well-maintained 1961 ranch that is functional and move-in ready, but shows clear signs of age. While the kitchen has been partially updated with granite countertops and stainless steel appliances, and some rooms feature newer laminate flooring, the overall aesthetic and infrastructure are dated. The listing's suggestion of a 'restore, remodel or tear-down' opportunity confirms that while the home has been cared for, it requires significant modernization to meet current luxury standards for the neighborhood.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 13726, living area = 1783.
Situated in the highly sought-after Royal Palm Neighborhood, the property is steps from Royal Palm Park and conveniently close to top-rated schools, dining, and shopping.
The expansive 13,726 square foot corner lot features ideal north/south exposure and irrigation, providing a significant canvas for landscaping, expansion, or a new build.
Marketed as a restore or tear-down opportunity, the property likely requires substantial capital investment beyond the purchase price to meet modern living standards.
Built in 1961, the home may feature aging systems and a traditional ranch layout that requires significant modernization to compete with newer luxury builds in the area.
Restore, remodel or tear-down opportunity in the highly sought after Royal Palm Neighborhood. This beautiful, well maintained, 3 bedroom, 2-bathroom ranch style home sits on a 13,726 square foot irrigated corner lot with ideal north/south exposure. This property offers a fantastic opportunity for those with a vision to transform it into their dream home. Spacious kitchen with stainless steel appliances, living room features a cozy fireplace with direct backyard access ideal for entertaining. Plus a 2 car garage. New roof.. Unbeatable location that is steps away from Royal Palm Park and close to top rated schools, dining, and shopping.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,783 | 2,068 | 33% |
| Lot Size | 13,726 | 10,424 | 69% |
| Price | $800.0K | $384.0K | 72% |
| Price per sq ft | $449 | $272 | 91% |
| Built year | 1961 | 1959 | 62% |
| HOA | $0 | $0 | 50% |
| Days on market | 18 | 1404 | 1% |
Apr 8, 2026
$800,000
Initial Listing