819 S 3RD Avenue, Phoenix, AZ 85003, Phoenix, 85003 - 7 bed, 2 bath
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Phoenix, AZ 85003
This Historic Value-Add Asset is a Strong Value Opportunity, listed at $950,000—positioned well below the $1,008,800 Fair Market Value by 5%. This valuation gap offers $58,800 in Instant Equity. Located in the high-growth Roosevelt district, the property includes an adjacent vacant lot and a residence with a Condition Rating of 4. Despite the 7-bedroom, 2-bathroom layout, the Development Potential near Lowell School and Central High School ensures significant ROI. This is a prime acquisition for Real Estate Developers or Visionary Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 819 S 3RD Avenue Subject | $950,000* List Price | 7 | 2 | 3,267 | $309 | - |
A 819 S 3RD Avenue Active | $1,195,000 List Price | 7 | 2 | 3,267 | $366 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1900, this historic home has been maintained with some visible updates including newer laminate flooring and stainless steel appliances. However, the property shows signs of age consistent with its century-old construction, and the 7-bedroom to 2-bathroom ratio represents significant functional obsolescence. While livable, the kitchen and bathrooms are dated, and the property requires modernization of major systems and layout to meet current market standards.
The inclusion of an adjacent vacant lot provides rare flexibility for expansion, multi-unit redevelopment, or high-value investment in a dense urban setting.
Situated in the rapidly revitalizing Roosevelt district near Downtown Phoenix, the property is perfectly positioned to benefit from ongoing urban growth and high housing demand.
Built in 1900, this residence offers unique character with original hardwood flooring and large windows, providing a timeless aesthetic that is increasingly rare in the local market.
The property features seven bedrooms but only two bathrooms, a ratio that is impractical for modern living standards and may require significant remodeling costs to rectify.
Given the home's 1900 construction date, buyers should anticipate the need for extensive updates to aging infrastructure, including electrical, plumbing, and structural systems.
Located near Downtown Phoenix, this unique property offers a rare combination of character, location, and future potential. The offering includes a charming residence along with an adjacent vacant lot, creating valuable flexibility for expansion, redevelopment, or long-term investment. The home features hardwood flooring, large windows, and abundant natural light, providing a warm and inviting interior with timeless appeal. Positioned in the rapidly growing Roosevelt district, the property benefits from ongoing revitalization, new development, and increasing demand for housing near the city center. Whether you are an investor, developer, or buyer seeking a property with both charm and opportunity, this is a rare chance to secure a versatile asset in one of Phoenix's most dynamic areas.
No exterior & parking available.
Grades PK-8 • 0.2 mi
Grades 9-12 • 4.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 7.0 | 3.0 | 94% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 3,267 | 1,623 | 94% |
| Lot Size | 6,500 | 7,392 | 16% |
| Price | $950.0K | $675.0K | 86% |
| Price per sq ft | $291 | $374 | 45% |
| Built year | 1900 | 1937 | 1% |
| HOA | $0 | $0 | 50% |
| Days on market | 47 | 1577 | 1% |
Mar 9, 2026
$950,000
Initial Listing