1709 E ENCINAS Lane, Phoenix, AZ 85040, Phoenix, 85040 - 5 bed, 3 bath
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Phoenix, AZ 85040
This property presents a High-Potential Investment Opportunity with a List Price of $359,000—positioned well above the $349,761 Fair Market Value by -2%. Featuring R-3 Zoning and a triplex configuration, this asset offers significant value-add potential for multifamily redevelopment. Despite a Condition Rating of 5, the property includes Granite Kitchens and a private patio. Given the requirement for cash or hard money, this is a strategic acquisition for Buy-and-Hold Investors or Redevelopment Specialists seeking to maximize rental income in a high-demand Phoenix location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1709 E ENCINAS Lane Subject | $359,000* List Price | 5 | 3 | 2,186 | $160 | - |
A 5013 S 21ST Way Sold | $332,000 | 3 | 2 | 1,863 | $178 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1955 (69 years old) and marketed as a 'value-add' or 'redevelopment' opportunity. The 'cash or hard money only' requirement strongly indicates the property cannot qualify for traditional financing due to its condition. While some units have minor granite updates, the overall age, presence of window AC units, and the need for a 'clean up' suggest significant deferred maintenance and the need for a full rehab.
The property features three separate units (two 2-bed/1-bath and one 1-bed/1-bath), offering immediate rental income opportunities and a diversified portfolio for investors.
Zoned R-3, this lot provides significant value-add potential for multifamily expansion or future redevelopment, subject to City of Phoenix approval.
Situated with convenient access to major freeways, shopping, and dining, the property is well-positioned for high tenant demand and accessibility.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2186, other record living area = 1267.
The requirement for cash or hard money only excludes traditional mortgage buyers, narrowing the potential pool of purchasers to investors with liquid capital.
The assigned public schools have low ratings (2/10 and 3/10), which may negatively impact the property's appeal to long-term family tenants and future resale value.
Great Phoenix triplex opportunity with R-3 zoning and value-add potential! Property includes 3 separate units: front building offers a 2 bed/1 bath unit and a 1 bed/1 bath unit, plus rear 2 bed/1 bath unit. Each unit includes kitchen, living/dining area and full bath. Separate electric meters, shared water. Some units feature granite and updates. Property to be cleaned up and delivered at COE. R-3 zoning offers multifamily potential subject to City of Phoenix approval. Excellent opportunity for investor, rental portfolio, or future redevelopment. Convenient location near shopping, dining, schools and freeway access. Cash or hard money only. Buyer to verify all facts, figures, zoning, permits, uses and measurements.
No exterior & parking available.
Grades K-8 • 0.7 mi
Grades 9-12 • 1.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 0.0 |
| Baths | 3.0 | 0.0 |
| Square foot | 2,186 | - |
| Lot Size | 8,128 | - |
| Price | $359.0K | $495.4K |
| Price per sq ft | $164 | $290 |
| Built year | 1955 | 0 |
| HOA | $0 | $0 |
| Days on market | 19 | 1260 |
Jul 4, 2026
$359,000
Initial Listing