North Central Phoenix, AZ – For some properties a buyer only needs bring a toothbrush, some are described as lock and leave, and some simply ask buyers to bring their bulldozer. The property located at 7019 N CENTRAL AVE, Phoenix, AZ 85020 is saying (in not so many words) bring your bulldozer or contractor.
The property which was built in 1918 after states hood sits off Central Ave and Glendale in the North Central Phoenix corridor. The property is being sold “as is “ with it needing a substantial amount of restoration and remodeling. According the Country Assessors the home is 2162 sf on a 52,000 +- sf or 1.2 acre lot right on Central Avenue. The house looks much larger than 2162 sf from the exterior. The current owner posted a demolition permit ready for a developer buyer. Karl Tunberg, listing agent says the demolition permit was posted just in case the future owner chooses to demolish the home, that way there is no red tape for them to jump through.
Many residents, including myself would hate for the home to be torn down says Realtor Juan Pesqueira. I would hope the next buyer chooses to restore it. The other plan in the works is hoping the North Central Phoenix Homeowner’s Association (NCPHA) can save the home by getting it deemed as “historic.”
From a Phoenix and resident standpoint, it should not be torn down because of its history and its character. From a buyer standpoint, the home at a minimum will need at least $500K in restoration or repairs but my gut tells me it could be closer to or much higher the $1,000,000. Add that to the current $1.85 million price tag and the deal makes no financial sense. Unless you are looking to sit on this property for a very long time.
Central Phoenix is old money and the value for these properties is the land. This home sits on prime 1.2 acre real estate. Hopefully the NCPHA comes through and deems it “historic” or an investor who want to restore the 100 year old house buys the property. Either way it’s a sign of changing times in North Central Phoenix.
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