502 W APACHE Street, Phoenix, AZ 85003, Phoenix, 85003 - 2 bed, 1 bath
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Phoenix, AZ 85003
Analysis of 502 W APACHE Street, Phoenix, AZ 85003 is currently available with a list price of $205,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the Phoenix Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is land value only, full reconstruction required.
Built in 1941, the property is currently in a completely gutted state with no functional kitchen, bathroom, flooring, or finished walls. Given the 'as-is' condition, the age of the structure, and the listing's emphasis on R3 zoning and land value for redevelopment, it is unlivable and meets the criteria for a tear-down.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10512, living area = 1012.
The property features R3 zoning on a substantial 10,512 sq. ft. corner lot, offering exceptional flexibility for single-family or multi-family redevelopment in a high-demand area.
Situated in the heart of Central Phoenix, the home provides rapid access to Downtown, the I-17 freeway, and is only 12 minutes from Sky Harbor International Airport.
The home is being sold in as-is condition and dates back to 1941, likely requiring extensive repairs, modernization, or a complete teardown to reach its highest and best use.
Located directly across from the I-17 freeway, the property is subject to significant traffic noise and potential air quality concerns, which may impact residential appeal.
EXCITING NEW LISTING! Prime opportunity at 502 W. Apache Street, Phoenix, AZ 85003 in the heart of Central Phoenix! This 2-bedroom, 1-bath home is being sold AS IS and sits on a spacious 10,512 sq. ft. corner lot with fantastic curb appeal. Zoned R3, this property offers incredible flexibility, ideal for single-family or multi-family development. Located directly across from the I-17 freeway and just minutes from Downtown Phoenix, you'll love the unbeatable access and visibility. Approximately 12 minutes to Sky Harbor International Airport, making it a highly desirable location for future potential.
No exterior & parking available.
Grades PK-8 • 0.5 mi
Grades 9-12 • 5.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 17% |
| Baths | 1.0 | 2.0 | 13% |
| Square foot | 1,012 | 1,614 | 2% |
| Lot Size | 10,512 | 7,392 | 95% |
| Price | $205.0K | $650.0K | 39% |
| Price per sq ft | $203 | $374 | 43% |
| Built year | 1941 | 1937 | 61% |
| HOA | $0 | $0 | 50% |
| Days on market | 86 | 1578 | 7% |
Jan 30, 2026
$205,000
Initial Listing