Commercial Space Information
An exciting opportunity to acquire a 100% fee simple interest in 1461 East Apache Boulevard, Tempe, Arizona.
Terrace Lofts is an exciting new townhome development ideally located blocks from Dorsey Station, Downtown Tempe and ASU. There is a growing demand for high-quality stand-alone single-family homes to own or rent in and around the vibrant community of Hudson Manor.
Thoughtfully designed to maximize the number of corner units giving owners great views, spacious areas and expansive features. Approved by the City of Tempe for the development of 20 single-family townhome dwellings plus 1,000 square feet of commercial space.
Property Highlights:
- Prime Infill Location in the heart of Tempe
- Approved for 20 Single-Family Townhome Dwellings
- 1,000 SF of Commercial Space
- Each Unit: 3 Bedrooms | 2.5 Baths | 2-Car Attached Garage
- Total Land Area: ±38,952 SF across 2 parcels
- Maricopa County Parcel Numbers: 133-08-059A & 133-08-058A
- Individual parcels to be created for future resale flexibility
- Strong rental and for-sale market fundamentals
- Approved site plan and entitlements in place
- Mix of residential + commercial use for diversified income potential
- Unique design offering NEW single-family living with the benefits of a dense urban environment
Location:
- Minutes to Downtown Tempe & Mill Avenue District
- Nearby community parks, dog runs, gardens, and playgrounds (Mitchell Park area); plus access to Tempe Town Lake, Papago Park, hiking/biking trails
- Active, diverse vibe: A mix of student, family-friendly, and long-time residents adds to the neighborhood’s energy
- Walking Distance to ASU Tempe Campus
- Direct access to Loop 101, Loop 202, and US-60 Freeways
- Proximity to Tempe Marketplace, employment hubs, and Sky Harbor International Airport
- Steps from the Phoenix Metro Light Rail Station offering public transportation to Downtown Phoenix
- Walkability & transit: A WalkScore of 60 (some errands on foot), TransitScore 50 (“good transit”), BikeScore 72 (“very bikeable”)
- Ongoing improvements: Apache Blvd is being revitalized, including new affordable housing developments—signaling continued investment and community growth