520 E Pierson St., Phoenix, AZ 85012

THE PROPERTY IS CURRENTLY ZONED R-4(29 UNITS PER ACRE)GROSS SITE AREA 37,921 SQUARE FEET. GREAT DOWNTOWN LOCATION. THERE HAVE BEEN TWO LUXURY APARTMENT COMPLEXES DEVELOPED WITHIN THE LAST SEVERAL YEARS. THIS IS AN OPPORTUNITY TO COLLECT INCOME WHILE OBTAINING SITE APPROVAL FOR A NEW BUILDING.OWNER CURRENT PAYS ELECTRIC, HOWEVER THERE IS A $50 CAP FIGURE ON THE LEASE. ELECTRIC IS SEPARATELY METERED GAS AND WATER ARE NOT.