Prime Glendale Multifamily Development Opportunity.
Located in the heart of rapidly growing Glendale, this exceptional ±7-acre multifamily development site presents a rare turnkey opportunity for developers and builders seeking a construction-ready apartment project in one of the Phoenix metro area's strongest rental markets.
Strategically positioned near 59th Avenue & Missouri Avenue, the property is fully approved for 120 apartment units (30 One-Bedroom Units & 90 Two-Bedroom Units), with plans, permits, and entitlements already in place--helping significantly reduce development timelines, risk, and carrying costs. The project is thoughtfully designed for a modern multifamily community, featuring attractive unit layouts, ample parking, landscaped common areas, and resident-focused amenities. With approvals secured, a developer can move directly toward construction and capitalize on the strong demand for quality rental housing in Glendale and the West Valley corridor.
The site offers excellent accessibility, strong surrounding demographics, and close proximity to major employment centers, retail destinations, schools, entertainment venues, and freeway access. Minutes from destinations including Westgate Entertainment District, State Farm Stadium, and Desert Diamond Arena, the property is ideally positioned to serve the area's expanding population and workforce.
This is an outstanding opportunity for investors, builders, and multifamily developers seeking a high-potential, fully entitled apartment development in a prime Arizona location.
Lot/land
Price cut: $955K (7/30)
$6,995,000
5544 N 59th Avenue #_, Glendale, AZ 85301
--beds
--baths
7.32Acres
Land
Built in ----
7.32 Acres Lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Excellent accessibility
- 106 days
- 89
- 3
Zillow last checked:
Listing updated:
Listed by:
Azad Zolnoorian 602-446-7000,
Realty ONE Group
Source: ARMLS,MLS#: 7030134

Facts & features
Property
Features
- Fencing: None
Lot
- Size: 7.32 Acres
- Dimensions: 318,750
- Features: See Remarks, East/West Exposure, Corner Lot, North/South Exp
- Topography: Level
- Residential vegetation: Natural Vegetation
Details
- Additional structures: None
- Parcel number: 14429002A
- Zoning: [C-2] & [R-4]
Utilities & green energy
- Electric: SRP
- Sewer: Public Sewer
- Water: City Franchise
- Utilities for property: Sewer Available
Community & HOA
HOA
- Has HOA: No
Location
- Region: Glendale
Financial & listing details
- Tax assessed value: $1,655,300
- Annual tax amount: $839
- Date on market: 5/19/2026
- Cumulative days on market: 106 days
- Listing terms: Cash,1031 Exchange,Conventional
- Electric utility on property: Yes
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 7/30/2026 | Price change | $6,995,000-12% |
Source: | ||
| 5/19/2026 | Listed for sale | $7,950,000+367.6% |
Source: | ||
| 9/20/2021 | Sold | $1,700,000+672.7% |
Source: Public Record Report a problem | ||
| 10/21/2008 | Sold | $220,000 |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $828 +3.9% | $248,295 +6.5% |
| 2024 | $797 +9.2% | $233,130 +4149.5% |
| 2023 | $730 -0.7% | $5,486 -95.6% |
| 2022 | $735 -63.6% | $124,110 +1321.6% |
| 2021 | $2,022 +1.1% | $8,730 -70% |
| 2020 | $2,000 +3.9% | $29,130 +0.5% |
| 2019 | $1,924 | $28,980 +26.7% |
| 2018 | $1,924 -1% | $22,880 +15.4% |
| 2017 | $1,944 +14.3% | $19,820 +29% |
| 2016 | $1,700 +2.5% | $15,360 +10.1% |
| 2015 | $1,659 | $13,950 +42.9% |
| 2014 | -- | $9,760 -6.2% |
| 2013 | -- | $10,400 -16.5% |
| 2012 | -- | $12,448 -13.8% |
| 2011 | -- | $14,448 -56.6% |
| 2010 | -- | $33,309 +141% |
| 2009 | -- | $13,820 -56.5% |
| 2008 | -- | $31,786 +25.5% |
| 2007 | -- | $25,318 +8.3% |
| 2006 | -- | $23,383 |
| 2005 | -- | $23,383 +50% |
| 2004 | -- | $15,589 |
| 2003 | -- | $15,589 +53.3% |
| 2002 | -- | $10,172 |
Find assessor info on the county website
Monthly payment
Climate risks
Neighborhood: O'Neil Ranch
Nearby schools
Schools provided by the listing agent
- Elementary: William C Jack School
- Middle: Don Mensendick School
- High: Glendale High School
- District: Glendale Elementary District
Source: ARMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.





