This infill residential site zoned R-4 is platted for 56 townhomes of which 16 units were constructed and are currently occupied by either owners or tenants. This offering is for the remaining 40 townhome sites and common area, which includes a swimming pool and storage facility. In the aggregate, the total property area is roughly 3.25 acres. While not part of this offering, a significant portion of the existing 16 townhomes are available for purchase under a separate agreement. The property is located in the rapidly growing west Glendale area of metro Phoenix. It is situated approximately 2.5 miles east of the Loop 101 freeway, Arizona Cardinals Stadium, Westgate Center and the new Desert Diamond Casino, which will employ over 1,300 people. The area around the property has several single family residential and commercial developments currently under construction or planned. The buyer may purchase the property and use the existing final 40 unit townhouse plat or re-plan the site for apartments. The seller is willing to grant a buyer time for the government approvals needed for their proposed project. The property has ±462 feet of frontage on West Glendale Avenue and ±382 feet of frontage on North 77th Lane. The topography is level and municipal utilities are located at the property line.Growing Residential & Commercial AreaOpportunity to Develop Affordably-Priced Housing Options in an Under Served MarketAvg HH Income $66.8k & Home Values Avg $187.7k (1-Mile Radius)+/- 25,000 Daily Vehicle Count on Glendale AvenueConvenient Access to Loop 101 Freeway and Shopping and Restaurants
