819 S 3RD Avenue, Phoenix, AZ 85003, Phoenix, 85003 - 7 bed, 2 bath
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Phoenix, AZ 85003
This Historical Value-Add Asset is listed at $1,195,000, reflecting a strategic acquisition opportunity in the high-growth Roosevelt district. While the $1,121,500 Fair Market Value indicates the property is priced at a premium, the valuation is supported by the rare inclusion of an adjacent vacant lot and significant Development Potential. The property currently holds a Condition Rating of 4, exhibiting functional obsolescence due to a 7-bedroom, 2-bathroom configuration. Located near Lowell School, this project requires a modern layout reconfiguration to optimize ROI. This is an ideal play 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 | $1,195,000* List Price | 7 | 2 | 3,267 | $343 | - |
A 819 S 3RD Avenue Active | $950,000 List Price | 7 | 2 | 3,267 | $291 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1900, the property exhibits a mix of recent cosmetic updates and significant dated elements. While the interior features newer laminate flooring and fresh paint, the overall aesthetic is inconsistent, featuring dated red carpeting, faux-brick wall treatments, and basic light fixtures. The property suffers from functional obsolescence due to an impractical 7-bedroom to 2-bathroom ratio, and despite being 'well-maintained' for its age, it requires substantial modernization of the layout and likely the aging systems to meet contemporary standards.
The inclusion of an adjacent vacant lot alongside the primary residence offers rare and significant value for investors looking to expand or develop in a high-growth area.
Dating back to 1900, this home features unique architectural charm, elegant hardwood floors, and large windows that provide a distinctive aesthetic often sought after in the Roosevelt area.
Situated near downtown Phoenix in a rapidly expanding neighborhood, the property is perfectly positioned to benefit from the area's impressive appreciation and urban revitalization.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 7, other record bedroom count = 6.
The ratio of seven bedrooms to only two bathrooms is highly unconventional and may require a significant capital investment to modernize the layout for contemporary living.
As a structure built in 1900, the property likely requires ongoing specialized maintenance and potential upgrades to century-old systems to meet current building standards.
Attention Investors and Visionary Buyers! Discover a rare and valuable opportunity. Where a distinctive residence meets a prime investment prospect. This unique property includes not only a beautifully maintained home but also an adjacent vacant lot, offering limitless possibilities for future development. Situated in a rapidly expanding area near downtown Phoenix, this property benefits from the neighborhood's impressive growth trajectory. The Roosevelt area is quickly becoming one of the most sought-after locations, making this a strategic investment opportunity. Charming Home: Step into a residence with a unique design and historical charm. The inviting atmosphere is highlighted by an elegant hardwood floors, and large windows that fill the space with natural light. Come take a look
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 | $1.20M | $675.0K | 94% |
| Price per sq ft | $366 | $374 | 49% |
| Built year | 1900 | 1937 | 1% |
| HOA | $0 | $0 | 50% |
| Days on market | 648 | 1578 | 37% |
Jul 17, 2024
$1,195,000
Initial Listing