#6809743, Ryan Miller, Rory Miller, Listing Office: RBR & Associates
![Marcus & Millichap MLS Logo](https://rocket.com/homes/mls-logos/IDX_543.png)
2905 E Grovers Ave Unit 140 Phoenix, AZ 85032
Property details
About 2905 E Grovers Ave Unit 140
6791551 (2905 E Grovers Ave): $460,000 6791549 (2700 E Greenway Pkwy): $540,000 Marcus & Millichap is pleased to present Greenway & Grovers (combined 30-unit apartment homes), two prime multifamily development opportunities in the established North Phoenix submarket. Both sites have been entitled and are currently in the building review phase with the city of Phoenix. Greenway (16-units) offers a combination of two- and three-bedroom floorplans averaging ±1,332 square feet, and Grovers (14-units) offers a combination of two- and three-bedroom floorplans averaging ±1,347 square feet, on low density site plans. The scarcity of developable land in this submarket creates high barriers to entry, underscoring the exclusivity of the North Phoenix location and promoting long-term rent growth prospects. With an average single-family home price of ±525,000 within a three-mile radius the rent-vs-own affordability gap supports sustained renter demand that is anticipated to continue. Strong area demographics further enhance the investment potential, boasting an average household income of $92,445 and a median household income of $69,395, with 65% of residents occupying white-collar professions. Additionally, the highly anticipated Taiwan Semiconductor Manufacturing Company (TSMC) marks the largest direct foreign investment in Arizona's history, which is expected to create thousands of high-quality jobs and drive economic growth. Additionally, a robust healthcare presence supported by numerous medical centers and hospitals in the vicinity promote a durable employment base.
Highlights
Summary
- MLS Number: 6791551
- MLS Name: Arizona Regional Multiple Listing Service 2
- Office Name: Marcus & Millichap
- Office Phone: (602) 687-6700
- Office Email: rsarbinoff@marcusmillichap.com
- Listing Agent: Christopher Paul Bay
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Last updated on: 2/6/2025, 11:55:52 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$460,000
2905 E Grovers Ave Unit 140
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Price information
Property sales
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Tax history
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Nearby schools
3
Campo Bello Elementary School
Public District KG-6
0.3 mi
•2625 E Grovers Ave
2
Palomino Primary School
Public District PK-3
1.1 mi
•15833 N 29th St
9
Quail Run Elementary School
Public District KG-6
1.1 mi
•3303 E Utopia Rd
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $58,279. Residents of Phoenix, AZ typically earn between $35k-100k each year. Residents typically live in single, no kids family. Typical level of education for residents in this area is post secondary degree.
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Frequently asked questions
About 2905 E Grovers Ave Unit 140
This home is located at 2905 E Grovers Ave Unit 140 in Phoenix, AZ and zip code 85032 in the Paradise Valley Village neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since December 6, 2024 and is currently priced at $460,000.
In January 2025, from all listings sold in Phoenix, AZ there were more than 128 sold above asking price, over 583 sold below and more than 242 were sold right at the asked price. The inventory of homes for sale in Phoenix, AZ between December and January 2025 increased by 12.9%. Listings spent 74 days on the market in January 2025, and had a median list price of $455,485 during the same period.