2645 E GLENROSA Avenue, Phoenix, AZ 85016, Phoenix, 85016 - 3 bed, 2 bath
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Phoenix, AZ 85016
This Prime Redevelopment Asset represents a strategic acquisition in the prestigious 85016 zip code, listed at $765,000. While the residential $697,569 Fair Market Value suggests a premium, the valuation is supported by Exceptional Development Versatility, including preliminary approval for 4 townhomes or a two-lot subdivision. Sold in 'As-Is' Condition with a Condition Rating of 5, the property requires a total overhaul to maximize the 12,259 sqft lot. This high-upside project is an ideal opportunity for Real Estate Developers and Fix-and-Flip Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2645 E GLENROSA Avenue Subject | $765,000* List Price | 3 | 2 | 1,961 | $356 | - |
A 2444 E FLOWER Street Sold | $685,000 | 3 | 2 | 1,800 | $381 | 0.9 mi |
B 2043 E CLARENDON Avenue Sold | $710,000 | 4 | 2 | 1,813 | $392 | 0.9 mi |
C 2730 E Flower Street Street Sold | $575,000 | 3 | 1 | 1,645 | $350 | 0.8 mi |
D 2324 E HEATHERBRAE Drive Sold | $650,000 | 2 | 1 | 1,445 | $450 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1960 and sold in 'As Is' condition, the property is primarily marketed for its redevelopment potential, including demolition for townhomes or a total remodel. While interior photos show some surface updates like laminate flooring and neutral paint, the listing emphasizes aged infrastructure and significant capital investment requirements for major systems, placing it in the poor category for a residential buyer.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 12259, living area = 1961.
The property offers three distinct redevelopment paths, including preliminary City of Phoenix approval for four townhomes or a two-lot subdivision, providing high ROI potential for investors.
Situated in a highly desirable Phoenix zip code, the property benefits from close proximity to the Biltmore area, luxury shopping, and major employment hubs, ensuring strong resale demand.
The property is being sold in its current state, which likely necessitates a complete remodel or total demolition, requiring significant immediate capital investment from the buyer.
Built in 1960, the existing structure may feature dated electrical, plumbing, and mechanical systems that may not meet modern building codes if the buyer chooses to renovate.
Property features 3 possible redevelopment options as follows: 1. City of Phoenix Preliminary Site Plan approval for 4 townhomes. See Site Plan in Documents Tab. 2. Potential for 2 single family lots. 3. Retain and /or remodel existing home and add a guest house and garage on the available 3,500 SF pad to the west of the existing home. Being sold in ''As Is'' condition.
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 | 1,961 | 1,886.5 | 55% |
| Lot Size | 12,259 | 8,294 | 85% |
| Price | $765.0K | $595.0K | 68% |
| Price per sq ft | $390 | $354 | 58% |
| Built year | 1960 | 1955 | 62% |
| HOA | $0 | $0 | 50% |
| Days on market | 11 | 1490 | 0% |
Apr 15, 2026
$765,000
Initial Listing