740 E Portland St
Description
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...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.
- Listed by John Klocek • Brokerage DRE #LC649639000 • ABI MultifamilyP: (602)-639-0088 C: (602)-639-0088 john.klocek@abimultifamily.com
- Listed by Patrick Burch • Brokerage DRE #LC649639000 • ABI MultifamilyP: (602)-430-2032 C: (602)-430-2032 patrick.burch@abimultifamily.com
Property Details for 740 East Portland Street
Property Details for 740 East Portland Street
| Status | Active |
|---|---|
| MLS # | 6971372 |
| Days on Market | 16 |
| Taxes | $13,734 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multiple Dwellings |
| Year Built | 1964 |
| Lot Size | 1.15 AC / 50,000 SF |
| County | Maricopa County |
Location
Building Information for 740 East Portland Street
Payment Calculator
$34,530 per month
30 year fixed, 6.15% Interest
$33,386
$1,145
$0
Property Information for 740 East Portland Street
- Unparsed Address: 740 E PORTLAND Street, Phoenix, AZ 85006
- City: Phoenix
- Coordinates: -112.063316, 33.46032
- Country: US
- County Or Parish: Maricopa
- Cross Street: 7th Street & Portland Street
- Directions: East on Portland Street to Property on the North Side of the Street.
- Latitude: 33.46032
- Longitude: -112.063316
- Postal City: Phoenix
- Postal Code: 85006
- Postal Code Plus4: 2747
- State Or Province: AZ
- Street Suffix: Street
- Year Built: 1,964
- Tax Annual Amount: $13,734.32
- Tax Book Number: 116.00
- Tax Legal Description: BRILL
- Tax Lot: 11,13 & half of 15
- Tax Year: 2,025
- Covered Spaces: 0
- Garage YN: No
- Open Parking Spaces: 0
- Parking Features: Other, Carport
- Parking Total: 0
- Elementary School District: Phoenix Elementary District
- High School District: Phoenix Union High School District
- Building Area Units: Square Feet
- Living Area Units: Square Feet
- Lot Size Dimensions: 250' x 200'
- Disclosures: Other (See Remarks)
- Documents Count: 0
- Ownership: Fee Simple
- Parcel Number: 11631044
- Property Type: Multiple Dwellings
- Public Survey Range: 3E
- Public Survey Section: 4
- Public Survey Township: 1N
- Electric: APS
- Electric On Property YN: Yes
- Sewer: Public Sewer
- Water Source: City Franchise
- Community Features: Other
- Construction Materials: Other, Block
- Number Of Buildings: 3
- Number Of Units Total: 32
- Roof: Other
- Bathrooms Total Decimal: 0.0
- Bathrooms Total Integer: 0
- Cooling: Other
- Cooling YN: Yes
- Flooring: Other
- Heating: Other
- Heating YN: Yes
- Gross Income: $.00
- Gross Scheduled Income: $.00
- Net Operating Income: $.00
- Operating Expense: $13,734.32
Property History for 740 East Portland Street
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Jan 20, 2026 | Listed (Active) ARMLS #6971372 | $6,850,000 | — |
| Date | Event & Source | Price |
|---|---|---|
| 01/20/2026 | Listed (Active) ARMLS #6971372 | $6,850,000 |
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 740 East Portland Street
Schools near 740 East Portland Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Ralph Waldo Emerson Elementary School PublicPK to 8 | ||
Phoenix Coding Academy Public9 to 12 | ||
North High School Public9 to 12 | ||
Phoenix Union Bioscience High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of ABI Multifamily
The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Northern Arizona Association of REALTORS, Prescott Area Association of REALTORS and Arizona Regional Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings provided by brokerages other than Compass are identified with the ARMLS logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate. All information should be verified by the recipient and none is guaranteed as accurate by ARMLSListing information Copyright© 2026 Northern Arizona Association of REALTORS, Prescott Area Association of REALTORS and Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.
