2545 N 29TH Place, Phoenix, AZ 85008, Phoenix, 85008 - 7 bed, 5 bath
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Phoenix, AZ 85008
This Income-Generating Residential Asset is listed at $1,199,000, positioned near its $1,135,883 Fair Market Value. The property serves as a High-Potential Investment Opportunity, currently generating $6,000 monthly in rental income with significant development upside via a proposed lot split on the 13,765 sq ft parcel. Featuring an Excellent Condition Rating from a 2023 Renovation, the home includes Dual Kitchens and Quartz Countertops. Proximity to Creighton Elementary and Camelback High School ensures long-term residential demand. This is an ideal acquisition for Buy-and-Hold Investors or Multi-generational Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2545 N 29TH Place Subject | $1,199,000* List Price | 7 | 5 | 4,176 | $272 | - |
A 2646 E WILLETTA Street Active | $850,000 List Price | 7 | 6 | 3,534 | $241 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property underwent an extensive renovation completed in 2023, featuring modern high-end finishes including quartz countertops, white shaker-style cabinetry, subway tile backsplashes, and luxury vinyl plank flooring throughout. The kitchen is equipped with new stainless steel appliances and contemporary fixtures, and the entire home features updated LED recessed lighting and fresh paint, meeting the criteria for a recently fully renovated property with no deferred maintenance.
The property is currently leased at $6,000 per month with a tenant interested in renewing, providing a turnkey investment with strong, immediate cash flow.
The oversized 13,000+ sq ft lot includes preliminary plans, surveys, and engineering for a lot split and an additional 4-bedroom home, offering massive value-add potential.
Renovated in 2023 with quartz countertops and dual kitchens, the 8-bedroom layout is uniquely optimized for high-density uses such as group homes or multi-generational living.
The proposed lot split is subject to City of Phoenix verification and approval, which introduces uncertainty and potential bureaucratic delays for development-focused buyers.
The highly specialized 8-bedroom configuration and dual-kitchen setup may limit the property's appeal to traditional single-family owner-occupants, potentially narrowing the future exit strategy.
Excellent investment opportunity in a centrally located Phoenix neighborhood. This property sits on approx 13,000 sq ft, offering the potential to split the lot (buyer to verify with the City of Phoenix). The seller has already completed preliminary work, including plans, survey, and structural engineering for a proposed 4-bed single-family home. The existing residence is an 8-bed, 5-bath home, completed in 2023 with modern finishes, including quartz countertops, shaker-style cabinetry, vinyl flooring, and LED lighting. The home features two full kitchens, making it ideal for a group home or multi-generational living. Currently leased month-to-month at $6,000 per month, the tenant would like to remain and is willing to renew, providing immediate income potential for an investor.
No exterior & parking available.
Grades K-8 • 0.6 mi
Grades K-8 • 0.9 mi
Grades K-8 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 7.0 | 0.0 |
| Baths | 5.0 | 0.0 |
| Square foot | 4,176 | - |
| Lot Size | 13,765 | - |
| Price | $1.20M | $495.4K |
| Price per sq ft | $287 | $290 |
| Built year | 1991 | 0 |
| HOA | $0 | $0 |
| Days on market | 159 | 1260 |
Feb 14, 2026
$1,199,000
Initial Listing