Vacant lot with City of Phoenix approved plans for a 4 plex. The plans are approved and ready to be paid for and picked up. There are 2 buildings each building has a 2 bedroom and 1 bath and a 1 bedroom and 1 bath approved so you have a total of 4 units. Market rents for a new build like this range from $1,800 to $2,400 a month per unit. There are 5 other 4 plex units that surround this lot and there is a new owner who is getting ready to start a major rehab on the buildings and landscaping to update it similar to what this new build will be. Once this is completed and this new build is done the property value will increase. No almost 2 year wait and the hassle of getting approved city plans, that is all done and now all you have to do it get building. We have a contractor who is willing to build the entire project for cost plus if you are interested. Now is your chance to buy and get building right away.
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