2234 E MISSOURI Avenue, Phoenix, AZ 85016, Phoenix, 85016 - 5 bed, 3 bath
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Phoenix, AZ 85016
This property presents a High-Potential Investment Opportunity with a List Price of $1,899,950—positioned well below the $1,856,459 Fair Market Value by -2%. Featuring a Condition Rating of 5, the home serves as a blank canvas for modernization. The 33,485 sqft lot and Open Zoning for 10-Bed Assisted Living provide significant upside for developers. With Camelback Mountain views and a full guest house, this asset is ideal for Value-Add Investors or Legacy Estate Developers seeking a prime Biltmore corridor acquisition.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2234 E MISSOURI Avenue Subject | $1,599,950* List Price | 5 | 3 | 3,562 | $449 | - |
A 2141 E PALO VERDE Drive Active Under Contract | $1,799,000 List Price | 4 | 4 | 3,813 | $472 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1973 (51 years old) and marketed as a 'perfect canvas' for investors, indicating the home is in mostly original condition. While functional, the interior finishes, dark wood beams, and dated cabinetry suggest systems and aesthetics are 30-50 years old. The listing's focus on land value and 'reimagining' into a legacy estate confirms it needs a total rehab to meet modern standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 33485, living area = 3562.
Situated in the prestigious Biltmore/Camelback corridor, this property offers iconic views of Camelback Mountain and sits on a massive 0.75-acre lot surrounded by mature trees and luxury estates.
The property features rare open zoning for a 10-bed assisted living facility and includes a full guest house with its own kitchen and bath, making it an ideal opportunity for investors or multi-generational living.
Built in 1973 and marketed as a 'classic splendor' or 'reimagining' opportunity, the home likely requires significant capital investment to modernize the interior and systems to current luxury standards.
The local public school scores, particularly the high school rating of 3, may be a concern for families prioritizing high-performing educational districts.
JUST REDUCED! RARE BILTMORE .769 ACRE REDEVELOPMENT LOT. Builders, Investors, Visionaries: This is Your Biltmore Opportunity. One of the last oversized lots available at under $1.8M. Transform the solid 1973 bones into a modern Biltmore estate. Vault ceilings, expand primary suite, convert casita to income -producing ADU. Fast timeline, high ROI. Or create 7,000+Sf new construction masterpiece. Biltmore addresses with this lot size are nearly extinct. Recent new builds within 0.3 miles sold $4.2M- $5.8 M. Detached casita, 769sf, complete with bathroom and kitchen. HUGE LOT, lots of extra parking, views of Camelback mountain , walk-bike to Arizona Biltmore golf club, The Ritz- Carlton, Wrigley Mansion, 5 min from Biltmore Fashion Park, 24th St & Camelback dining. Owner/Agent
No exterior & parking available.
Grades 5-8 • 0.8 mi
Grades PK-4 • 1.6 mi
Grades 9-12 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 0.0 |
| Baths | 3.0 | 0.0 |
| Square foot | 3,562 | - |
| Lot Size | 33,485 | - |
| Price | $1.60M | $495.4K |
| Price per sq ft | $449 | $290 |
| Built year | 1973 | 0 |
| HOA | $0 | $0 |
| Days on market | 83 | 1260 |
Jul 19, 2026
$1,599,950
$1,699,950
-6% Price Drop
Initial Listing
Jun 13, 2026
$1,699,950
$1,799,950
-6% Price Drop
Initial Listing
May 29, 2026
$1,799,950
$1,899,950
-5% Price Drop
Initial Listing
May 19, 2026
$1,899,950
$1,999,950
-5% Price Drop
Initial Listing
May 1, 2026
$1,999,950
Initial Listing