Phoenix, AZ 85006,740 E PORTLAND Street
Phoenix, AZ 85006,740 E PORTLAND Street
Phoenix, AZ 85006,740 E PORTLAND Street
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$6,850,000
Est. payment /mo
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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Subdivision Brills Addition Amd

MLS Listing ID 6971372

Year Built 1964

Annual Tax Amount $13,734

Tax Year 2025

Lot Dimensions 250' x 200'

Source Arizona Regional Multiple Listing Service (ARMLS)

Property Description

DRIVE BY ONLY! DO NOT ENTER THE PROPERTY OR DISTURB THE TENANTS! Urban Gardens consists of 32 apartment units in a prime area of Downtown
Phoenix. The property consists of quality block construction with cool,
midcentury architecture that is extremely popular today. The apartment
building consists of 28 one-bedroom units and four two-bedroom units. The
units have been well maintained over the years and have consistently stayed
fully occupied with many long term tenants. The property is individually
metered for electricity. The apartments sit on a prime parcel consisting of
50,000 square feet of land (60,000 gross square feet) that has been
rezoned to WU Code T4:2 EG HP (Walkable Urban Code). This would allow
approximately 24 additional units to be built on the property... ...providing an amazing value-add opportunity in the future. The property is also currently located in the Opportunity Zone. Urban Gardens is a phenomenal multifamily investment property as well as a prime future development opportunity in Downtown Phoenix. The property is located just east of 7th Street, a block north of the famed Roosevelt Row district, less than a mile north of the stadium district, a short bike ride / walk to the Downtown Arizona State University campus (over 10,000 students and growing), the Phoenix Biomedical Campus, Phoenix Burton Barr Library, and
the Phoenix Art Museum. Margaret T. Hance Park is just a short walk away and features hundreds of activities throughout the year including large music festivals and many weekend food / craft festivals. The property is also located minutes to the I-10 Freeway to allow quick and easy access to all parts of the valley. This location is as central as it gets and allows residents to enjoy,
with ease, so much of what Downtown and Midtown have to offer. With many dining, shopping, and entertainment options, as well as multiple freeway access points within minutes, Urban Gardens will prove to be a great place for residents to live as well as will be a very attractive parcel to potentially add units in a Grade A location. Phoenix consistently has a large increase in population and jobs, and the downtown area is expected to continue to explode with huge job growth in many different sectors. Arizona State University's downtown campus is rapidly expanding (already over 10,000 students and rapidly growing) and massive amounts of biotech investment and developments have
been developed in the area (the new Creighton University is less than two miles away in midtown and the Phoenix Biomedical Hub is two blocks away). Additionally major sports and entertainment hubs such as the Stadium District and Warehouse district are located just minutes away as well as many more.
Opportunities like Urban Gardens are rare and offer an investor a great income producing property in a grade A location with the addition of a prime development opportunity in one of the most active and desirable areas in the country.

Location

State AZ

County Maricopa

Community Brills Addition Amd

Area Maricopa

Zoning R4, MH

Direction East on Portland Street to Property on the North Side of the Street.

Interior

Heating Other

Cooling Other

Flooring Other

Appliance Other

Exterior

Parking Features Other, Carport

Community Features Other

Roof Type Other

Private Pool No

Building

Sewer Public Sewer

Water City Franchise

New Construction No

Schools

School District Phoenix Union High School District

Others

Senior Community No

Tax ID 116-31-044

Acceptable Financing Other (See Remarks), Conventional, 1031 Exchange

Disclosures Other (See Remarks)

Listing Terms Other (See Remarks), Conventional, 1031 Exchange

Read Less Info
Arizona Regional MLS (ARMLS)

Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

Listed by ABI Multifamily

NEARBY SCHOOL & BUSINESS

SCHOOLS PROPERTIES
Elementary Schools 20
  • 10

    Arizona School for the Arts

    Public | 5 - 12

  • 10

    Faith North Elementary School

    Public | PK - 8

  • 8

    Villa Montessori - Phoenix Campus

    Public | KG - 8

  • 6

    Great Hearts Academies - Teleos Preparatory

    Public | KG - 12

  • 5

    Clarendon School

    Public | PK - 8

  • 5

    Kenilworth Elementary School

    Public | PK - 8

  • 5

    Madison Park School

    Public | 1 - 8

  • 5

    Whittier Elementary School

    Public | PK - 8

  • 5

    Madison Camelview Elementary School

    Public | PK - 4

  • 5

    Loma Linda Elementary School

    Public | PK - 8

  • 4

    Capitol Elementary School

    Public | PK - 8

  • 4

    Mary Mcleod Bethune School

    Public | PK - 8

  • 4

    Encanto School

    Public | PK - 8

  • 4

    Lowell Elementary School

    Public | PK - 8

  • 4

    Asu Preparatory Academy- Phoenix Elementary School

    Public | KG - 10

  • 4

    Silvestre S Herrera School

    Public | PK - 8

  • 4

    Excelencia School

    Public | KG - 8

  • 3

    Arizona Virtual Academy

    Public | KG - 12

  • 3

    Ralph Waldo Emerson Elementary School

    Public | PK - 6

  • 3

    Longview Elementary School

    Public | PK - 8

Middle Schools 4
  • 7

    Metropolitan Arts Institute

    Public | 7 - 12

  • 0

    Brophy College Preparatory

    Private | 6 - 12

  • 0

    Arizona Insight Academy

    Public | 7 - 12

  • 0

    Youth Development Institute School

    Private | 7 - 12

High Schools 18
  • 10

    Phoenix Union Bioscience High School

    Public | 9 - 12

  • 8

    Franklin Police and Fire High School

    Public | 9 - 12

  • 7

    Metro Tech High School

    Public | 9 - 12

  • 7

    Phoenix College Preparatory Academy

    Public | 9 - 12

  • 6

    Asu Preparatory Academy- Phoenix High School

    Public | 9 - 11

  • 5

    North High School

    Public | 9 - 12

  • 4

    Central High School

    Public | 9 - 12

  • 3

    Camelback High School

    Public | 9 - 12

  • 1

    Arizona Call-a-Teen Center for Excellence

    Public | 9 - 12

  • 1

    Kaizen Education Foundation Dba Summit High School

    Public | 9 - 12

  • 0

    Tumbleweed Transitional Learning Center

    Public | 9 - 12

  • 0

    School for Integrated Academics and Technologies

    Public | 11 - 12

  • 0

    St Marys High School

    Private | 9 - 12

  • 0

    Xavier College Preparatory

    Private | 9 - 12

  • 0

    Genesis Academy

    Public | 9 - 12

  • 0

    Suns-Diamondbacks Education Academy

    Public | 11 - 12

  • 0

    Mosaica Online High School of Arizona

    Public | 9 - 12

  • 0

    Career Success High School - Robert L. Duffy

    Public | 9 - 12

School and business data provided by Attom Data.

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