822 E CAROL Avenue Phoenix, AZ $ 749,000
822 E CAROL Avenue
$ 749,000
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822 E CAROL Avenue

Phoenix, AZ, 85020
$ 749,000
Bedrooms5 Baths0.0

Monthly Estimate*

$ 5,173

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Multi-Family Home for sale in Phoenix, AZ

for $749,000 with 5 bedrooms. This home was built in 1977.

Fully occupied fourplex at the end of a cul-de-sac in East Sunnyslope, offered at $749,000. Three 1BR units and one 2BR unit feature slump-block construction, ceramic-tile interiors and private fenced patios or yards. A new asphalt-shingle roof with a reported transferable warranty and low-maintenance landscaping support ownership. Current OM underwriting shows $33,573 normalized NOI and a 4.48% cap rate; the market-rent pro forma shows $45,727 NOI and 6.11%. Convenient access to SR-51 and Central Phoenix employment, healthcare, shopping and recreation. No seller financing. Do not disturb tenants. Buyer to verify rents, expenses, condition, warranty and all information. 822 E Carol Avenue is a four-unit property in East Sunnyslope with three one-bedroom residences and one two-bedroom residence. All four are reported occupied. The approximately 1,776-SF building occupies an approximately 6,970-SF site. Features include slump-block construction, ceramic-tile interiors, private fenced patios or yards, low-maintenance desert landscaping and a new asphalt-shingle roof with a reported transferable warranty. The current OM uses its July 2026 rent schedule: $3,565 monthly base rent plus $225 monthly utility reimbursements, totaling $3,790. Annual base rent is $42,780 and reimbursements are $2,700, producing $45,480 gross potential income. A 3% economic vacancy allowance produces approximately $44,116 effective gross income, despite reported 100% physical occupancy. Normalized current expenses total $10,543: taxes $766, insurance $1,748, management $3,529, repairs $1,200, water/sewer/trash $2,300, landscaping $400 and other expenses $600. Current normalized NOI is $33,573, a 4.48% cap rate at the $749,000 asking price. These are underwriting assumptions and should be reconciled with current leases, collections and invoices. The illustrative market-rent case assumes $1,100 monthly for each one-bedroom unit and $1,400 for the two-bedroom unit. Reimbursements remain $2,700 annually; economic vacancy remains 3%; management remains 8% of effective gross income. Pro forma effective gross income is $57,327, expenses are $11,600 and NOI is $45,727, producing a 6.11% cap rate. Future rent changes are subject to existing leases and market conditions. The location offers access to SR-51, Central Phoenix employment, healthcare, retail and mountain recreation. Seller financing is not available. Please do not disturb tenants. Complete tenant leases are provided only after the property is under contract to protect tenant privacy. Disclaimer: Information is believed reliable but is not guaranteed. Buyer must independently verify all facts, figures, income, expenses, leases, occupancy, measurements, condition, zoning and permitted uses. Pro forma rents, returns and financing illustrations are estimates, not guarantees. Offering is subject to errors, omissions, prior sale, changes in price or terms and withdrawal without notice.

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Multi-Family Active

Price

$ 749,000

Bedrooms

5

Property Type

Multi-Family

Taxes

$ 927

Style

Multiple Dwellings

Year Built

1977

Town/City

Phoenix

County/Region

Maricopa

MLS | Web ID

6952059

Features
General
Sewer Public Sewer
Heating Varies by Unit Heat Pump
Cooling Ceiling Fan(s) Heat Pump Varies by Unit
Roof Composition See Remarks
Zoning Multi
Construction Materials Painted Block Slump Block
Year Built 1977
Electric APS Individual Meter
Township 3N
Tax Year 2025
Ownership Fee Simple Fee Simple
Gross Income 2744.0
Community Features No Pool
County Maricopa
Net Operating Income 42286.0
Operating Expense 10504.0
Insurance Expense 1748.0
New Construction N
Property Type Multiple Dwellings
Attached Garage N
MaintenanceExpense 1200.0
Garage Y/N N
Status Active
Directions Head east on Mountain View Rd from the intersection with Cave Creek Rd. Continue straight on Mountain View Rd past the residential area. Turn right (south) onto N 16th St (or the nearest major cros
City Phoenix
Disclosures Seller Prop Disc Stm APOD/Backup Avaible Sch of Personal Prop
High School District Glendale Union High School District
Open Parking Spaces 6.0
Number Of Units Total 4
Carport Y/N N
Tax Annual Amount 927.0
Electric Expense 0.0
Fuel Expense 0.0
Trash Expense 0.0
Water Sewer Expense 2300.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Virtual Tour https://tours.arizonarealtours.com/2364950?idx=1
Standard Status Active
Occupancy Type Tenant
Tax Lot 0
Cap Rate 5.65
New Financing: Conventional True
Senior Community N
New Financing: FHA True
New Financing: Cash True
New Financing: VA True
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Exterior
Exterior Amenities Sidewalk(s)
Parking Features Paved Free 1 Space/Unit On Street
Water Source Master Meter City Franchise
Total Parking 6.0
Number of Buildings 1
Spa N
Lot Dimensions irr
Road Surface Type Asphalt
Covered Spaces 0.0
Crops Included Y/N N
Irrigation Water Rights Y/N N
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Interior
Flooring Carpet Ceramic Tile Vinyl
Air Conditioning Y/N Y
Heating Y/N Y
Total Bedrooms 5
Total Baths 4
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Internal Only
Street Number 1 822
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* Excluded Features
List By
Gerchick Real Estate

Broker

Linda@justsoldit.com

Email

Affordability Calculator

$5,250
Per Month
99%
1%
0%
Monthly Principal & Interest
$5,173
Monthly Property Taxes
$77
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4327134 Elementary School
4327258 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
6/24/2026$749,000 -5.79% Price Down
3/19/2026$795,000 -5.92% Price Down
2/14/2026$845,000 -5.59% Price Down
1/30/2026$895,000 -8.21% Price Down
11/27/2025$975,000 Listed Price

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822 E CAROL Avenue, Phoenix, AZ, 85020 is a Multi-Family Home for sale at $749,000. 822 E CAROL Avenue has 5 bedrooms, 0.0 baths, and was built in 1977. The property's zip code is 85020 which is in Phoenix, AZ