2321 E ROOSEVELT Street, Phoenix, AZ 85006, Phoenix, 85006 - 2 bed, 1 bath
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Phoenix, AZ 85006
This Multifamily-Zoned Residence is a High-Potential Investment Opportunity, listed at $310,000—positioned well below the $325,810 Fair Market Value by 4%. This valuation gap secures $15,810 in Instant Equity for the buyer. Maintaining a Good Condition Rating, the property features a 2020 Roof, newer AC, and remodeled kitchen and bathrooms. The rare R5 Multifamily Zoning and proximity to North High School provide significant redevelopment upside. This turnkey asset is ideal for Buy-and-Hold Investors or Owner-Occupants looking to house-hack or expand.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2321 E ROOSEVELT Street Subject | $310,000* List Price | 2 | 1 | 951 | $343 | - |
A 2151 E GARFIELD Street Sold | $309,000 | 2 | 1 | 826 | $374 | 0.2 mi |
B 2311 E WILLETTA Street Pending | $389,900 List Price | 3 | 2 | 1,040 | $375 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and features significant recent capital improvements, including a new roof installed in 2020, a newer AC unit, and a newer water heater. The interior has been updated with tile flooring and remodeled kitchen and bathroom spaces. While the structure dates back to 1945, these major system updates and interior renovations align with the 'good' condition criteria for well-maintained properties with functional major systems.
The R5 multifamily zoning on a spacious 6,275 sqft lot provides exceptional value, allowing for the addition of an ADU or full multifamily redevelopment.
The home features significant recent upgrades including a new roof (2020), newer AC and water heater, and remodeled kitchen and bathrooms, reducing immediate maintenance costs.
Currently tenant-occupied with residents who wish to stay, this property offers immediate cash flow and a seamless transition for investors.
At only 951 square feet with a 2-bedroom, 1-bathroom configuration, the living space is relatively small and may limit appeal for larger families.
The property is being sold in as-is condition, which, combined with its 1945 construction date, may necessitate further inspections or repairs not covered by the seller.
Charming 2-bedroom, 1-bath home built in 1945 on a spacious lot with desirable R5 multifamily zoning offering exceptional potential for investors and homeowners alike. This cozy residence features thoughtful updates, with a remodeled kitchen & bathroom, tile flooring, a newer water heater & AC with a new roof in 2020. The expansive lot opens the door to a variety of possibilities: expand the existing home, add an ADU, or explore multifamily development opportunities (buyer to verify). Whether you're looking to generate additional rental income or create a larger living space, this property provides the flexibility to bring your vision to life. Currently tenant-occupied who would like to remain, making this an ideal turnkey investment opportunity! Property being sold As-Is.
No exterior & parking available.
Grades K-8 • 0.5 mi
Grades 9-12 • 2.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 28% |
| Baths | 1.0 | 2.0 | 36% |
| Square foot | 951 | 1,344 | 12% |
| Lot Size | 6,275 | 6,789 | 15% |
| Price | $310.0K | $415.3K | 36% |
| Price per sq ft | $326 | $327 | 50% |
| Built year | 1945 | 1944 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 15 | 1488 | 1% |
Apr 10, 2026
$310,000
Initial Listing