These are 2 lots are ready for development! APN 116-46-074 and 116-46-075. Two adjacent parcels in downtown Phoenix. Both lots are 50' x 140' or 7,000 square feet. Total is 100' x 140' for a combined 14,000 square feet or .32 acres. 1537 E. Monroe is zoned R5 and 1539 is zoned C3 which allows for residential use. The lots are located in one of the hottest redevelopment areas of Phoenix with nearby light rail, employment, education and entertainment centers. Lots are in designated Opportunity Zone and within several other special zoning, development and transportation schemes. Lot is fenced on 3 sides with a large gate providing alley access. There are currently 5 small structures on the commercial lot (vacant). These structures are approximately 300 square feet each with a toilet and sink. Tenant improvements would be required to make these tenantable but, a couple have been leased to commercial tenants in the recent past by the prior owner (current owner does not have information on terms). Prior owner commissioned site plan which allows for 16 - 21 residential units across three stories above 28 parking spaces on the ground level. Current owner has also reviewed an alternative duplex development on each lot with a local developer of duplexes in the area. {buyer to confirm all calculations and measurements}
Property Details
Property Features
Listing Office:
Office Name: My Home Group Real Estate
Office Phone: (480) 685-2760
Listing Agent: Robert Hershey
Lot Features
Lot Information:
Lot Size: 0.32 Acres
School Info
Assigned Schools Information:
Phoenix Union Bioscience High School, Public District Grades 9-12
North High School, Public District Grades 9-12
Franklin Police and Fire High School, Public District Grades 9-12
Other
Directions Information:
Directions: North on 16th street West on Monroe to lots.
Price Information
Listing Price Info
Price Summary:
List Price: $490,000
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Phoenix, AZ.
We're sorry, we currently don't have sales or tax history data for this listing.
Payment Calculator
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$2,513
Per Month
Principal & Interest
$2,446
Home PriceThe dollar amount you pay for the home.
$
Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.
%
Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.
$%
Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.
Property Taxes
$0
Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.
$/ Year
Mortgage Insurance
$0
Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.
$/ Month
Homeowners Insurance
$67
Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.
$/ Month
Homeowners Association (HOA)
$0
Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.
$/ Month
Utilities
$0
Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.
$/ Month
Recommended Financing
30-Year Fixed
Rate/APR
7.5% / 6.68%
Total Monthly Payment
$1,536
Powered By
Advertisement
NMLS#3030
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
High School
9
/10
Phoenix Union Bioscience High School
512 E Pierce St
Distance between this listing and this school1.14 miles
Public District Grades 9-12
4
/10
North High School
1101 E Thomas Rd
Distance between this listing and this school2.18 miles
Public District Grades 9-12
8
/10
Franklin Police and Fire High School
1645 W Mcdowell Rd
Distance between this listing and this school2.89 miles
Public District Grades 9-12
Nearby Schools
3
/10
Ralph Waldo Emerson Elementary School
915 E Palm Ln
Distance between this listing and this school1.51 miles
Public District Grades PK-6
2
/10
Wilson Primary School
415 N 30th St
Distance between this listing and this school1.80 miles
Public District Grades KG-3
1
/10
Martin Luther King Early Childhood Center
4615 S 22nd St
Distance between this listing and this school3.27 miles
Public District Grades PK-KG
Nearby Schools
4
/10
Thomas A Edison School
804 N 18th St
Distance between this listing and this school0.56 miles
Public District Grades PK-8
3
/10
Garfield School
811 N 13th St
Distance between this listing and this school0.60 miles
Public District Grades PK-8
6
/10
Faith North Elementary School
910 E Washington St
Distance between this listing and this school0.77 miles
Public District Grades PK-8
Assigned Schools
9
/10
Phoenix Union Bioscience High School
512 E Pierce St
Distance between this listing and this school1.14 miles
Public District Grades 9-12
4
/10
North High School
1101 E Thomas Rd
Distance between this listing and this school2.18 miles
Public District Grades 9-12
8
/10
Franklin Police and Fire High School
1645 W Mcdowell Rd
Distance between this listing and this school2.89 miles
The neighbors living near this home have an average income of $22,955. Typical income of Phoenix, AZ residents is less than $35k annually. The most common type of family is single, no kids. Most residents in this area have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 1537 E Monroe St Unit 3
What is the listing price of this property?
The listing price of 1537 E Monroe St Unit 3 property is $490,000.
What type of property is this?
The property 1537 E Monroe St Unit 3 is land located in Phoenix, Arizona, 85034.
Is this property for sale now?
Active Listing: 1537 E Monroe St Unit 3 is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 1537 E Monroe St Unit 3 are: Phoenix Union Bioscience High School: GreatSchools Rating 9/10North High School: GreatSchools Rating 4/10Franklin Police and Fire High School: GreatSchools Rating 8/10
How much acreage is this property?
The property 1537 E Monroe St Unit 3 is 0.32 acres.
Interested in 1537 E Monroe St Unit 3? Let's connect.
By checking this box and submitting your personal information, you agree to our Terms of Use and Privacy Policy. You also expressly consent to having Rocket Homes Real Estate LLC, its Family of Companies, Rocket Homes Network Partners, and potentially our mortgage partners contact you about your inquiry by text message or phone (including automatic telephone dialing system or an artificial or prerecorded voice) to the residential or cellular telephone number you have provided, even if that telephone number is on a corporate, state, or national Do Not Call Registry. You do not have to agree to receive such calls or messages as a condition of getting any services from Rocket Homes Real Estate, LLC or its partners. By communicating with us by phone, you consent to calls being recorded and monitored. You also agree that we can share your personal data and contact information with third parties such as mortgage partners, partner companies, and affiliates, and that these parties may use your personal data and contact information for marketing and analytic purposes, and to improve your experience.
This home is located at 1537 E Monroe St Unit 3 in Phoenix, AZ and zip code 85034 in the Central City neighborhood. This home sits on a 0.32 acre lot. It has been listed on Rocket Homes since October 25, 2023 and is currently priced at $490,000.
In April 2024 more than 306 listings in Phoenix, AZ were sold above the asking price. During the same period more than 374 listings were sold at asking price, while more than 813 were sold below. Between March 2024 and April 2024, Phoenix, AZ real estate market has seen increase in the number of listings by 2.5%. Listings spent 55 days on the market in April 2024, and had a median list price of $444,345 during the same period.
From Rocket Homes Real Estate and based on county public records data.