404 S Verde St, Flagstaff, AZ 86001

This rare 7,000 sq ft lot is in an unbeatable location, just blocks from NAU. It already has rental potential or buyer could add to that by redeveloping and adding an accessory dwelling unit (ADU), a rear alley facing second house, or pursuing full multi-unit redevelopment. New zoning rules allow for four units using the City of Flagstaff's new faster approval process. The parcel also conveys with a binding waiver of enforcement of the city's onerous High Occupancy Housing (HOH) Ordinance. Similar neighboring parcels are being fully redeveloped into lucrative high-density student housing duplexes and complexes. The property has been a rental for the past 5 years at 2,500/month. Rent the property while you plan the next steps for your investment! Owner is a licensed agent.