
Phoenix, AZ 85041
Analysis of 502 W SOUTHERN Avenue, Phoenix, AZ 85041 is currently available with a list price of $599,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. 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 both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is move-in ready.
While the structure dates back to 1934, the property is exceptionally well-maintained and move-in ready. It features critical system upgrades including a new roof and a newer HVAC system (approx. 1 year old). The interior shows a modernized bathroom vanity and clean tile flooring throughout, though some wall tiles and kitchen elements remain dated.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 22738, living area = 1413.
The R5 zoning on a massive 22,738 square foot lot allows for high-density residential or restricted commercial use, offering exceptional versatility for developers, investors, or business owners.
The home features a brand-new roof and a recently installed HVAC system (approximately one year old), significantly reducing immediate capital expenditure for the buyer.
Despite having three bedrooms, the property only features one bathroom, which may be a significant drawback for modern families or high-occupancy rental needs.
Built in 1934, the home may require further modernization of its interior finishes and underlying systems to meet contemporary residential or commercial standards.
Rare opportunity to own a well-maintained home on more than 22,000 square feet of R5-zoned land in the heart of Phoenix. This 3-bedroom, 1-bath home offers over 1,400 square feet of living space, a new roof, and a newer HVAC system installed approximately one year ago. The oversized lot and R5 zoning create opportunities seldom found in the area. R5 zoning allows for high-density residential development and certain restricted commercial uses, making the property attractive for future multifamily development, live/work opportunities, office uses, or long-term investment potential. Buyers are encouraged to verify development standards, density allowances, and permitted uses with the City of Phoenix. The property may appeal to homeowners seeking additional space, investors, developers... ...contractors, landscapers, and small business owners. According to the owner, the property previously operated as a dentist office, further demonstrating the flexibility and potential uses of the site. Ideally located near the Central Avenue light rail corridor, downtown Phoenix, and Sky Harbor Airport, the property offers convenient access to major employment centers, transportation, dining, shopping, and entertainment. Whether you are looking for a home, a business opportunity, a live/work property, or future development potential, this unique property offers possibilities rarely found in today's market. Opportunities like this do not come along often, and buyers are encouraged to explore the many possibilities this property provides.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 0.0 |
| Baths | 1.0 | 0.0 |
| Square foot | 1,413 | - |
| Lot Size | 22,738 | - |
| Price | $599.0K | $495.4K |
| Price per sq ft | $424 | $290 |
| Built year | 1934 | 0 |
| HOA | $0 | $0 |
| Days on market | 29 | 1260 |
Jun 24, 2026
$599,000
Initial Listing