7031 N CENTRAL Avenue, Phoenix, AZ 85020, Phoenix, 85020 - 5 bed, 4 bath
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Phoenix, AZ 85020
This property presents a High-Potential Investment Opportunity with a List Price of $1,325,000—positioned above the $809,240 Fair Market Value. While the current valuation reflects a premium for the land, the Condition Rating of 6 (stripped to studs) allows for a total custom build on the prestigious Murphy Bridle Path. This Development-Ready Asset offers significant upside for those looking to construct a luxury residence in a high-value corridor. This is an ideal acquisition for Custom Home Builders or Luxury Real Estate Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 7031 N CENTRAL Avenue Subject | $1,325,000* List Price | 5 | 4 | 3,592 | $225 | - |
A 202 E STATE Avenue Sold | $1,425,000 | 5 | 5 | 4,531 | $315 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1974 (50 years old) and currently stripped to the studs, the property is unlivable with no functional kitchen, bathrooms, or systems, fitting the criteria for land value and total reconstruction.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 14684, living area = 3592.
Situated directly on the prestigious Murphy Bridle Path along Central Avenue, this property occupies one of North Central Phoenix's most coveted and high-value corridors.
The home has already been taken down to the studs, providing a blank canvas for a custom reimagination or new build while saving the buyer significant time on initial demolition.
The property is currently a shell and requires a complete interior build-out, meaning it is not move-in ready and requires significant immediate capital investment.
Due to its 'as-is' condition and lack of finished interior, the property likely will not qualify for traditional residential financing, necessitating cash or specialized construction loans.
Rare opportunity to own one of the most iconic locations in North Central Phoenix, situated directly on the coveted Murphy Bridle Path along Central Avenue. Surrounded by multi-million dollar estates and lush mature landscaping, this property offers endless potential to create a truly exceptional custom residence in one of the Valley's most desirable corridors. The existing home has been taken down to the studs and is ready for its next chapter, whether that's a complete reimagination of the current structure or an entirely new custom build. With an unbeatable location, expansive potential, and premier North Central setting, this is a unique chance to bring your vision to life. Property is being sold AS-IS.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 88% |
| Baths | 4.0 | 2.0 | 85% |
| Square foot | 3,592 | 2,135.5 | 93% |
| Lot Size | 14,684 | 8,773 | 88% |
| Price | $1.32M | $381.9K | 93% |
| Price per sq ft | $369 | $244 | 78% |
| Built year | 1974 | 1969 | 63% |
| HOA | $0 | $0 | 50% |
| Days on market | 14 | 1383 | 1% |
May 29, 2026
$1,325,000
Initial Listing