822 E Carol Ave - Apartments FOR SALE


Phoenix, AZ 85020- North Mountain
$975,000 USD
602-688-9279
822 E Carol Ave, Phoenix, AZ for Sale
$975,000 USD
Apartments - FOR SALE
1/1
null | Request Cap Rate

822 E Carol Ave
Phoenix, AZ 85020
North Mountain


OVERVIEW

This well-maintained slump-block fourplex is positioned at the end of a quiet cul-de-sac and offers an outstanding combination of long-term durability, strong rental upside, and low-maintenance operating costs. With immediate proximity to SR-51, the property provides fast access to major employment centers including the Biltmore Financial District, Midtown, Downtown Phoenix, and nearby healthcare campuses. Key Property Highlights Brand-New Roof with a transferable warranty, providing future owners with peace of mind and reduced capital expense. Maintenance-Free Landscaping, upgraded with ¼-inch crushed granite and the proper underlying weed-control membrane—dramatically reducing ongoing grounds maintenance. Private Outdoor Space for Each Tenant, including individual fenced patios and rear yards, increasing tenant satisfaction, retention, and rental demand. Desirable Slump Block Construction, known for its durability, thermal performance, and long-term stability—ideal for long-term investors. One Unit Currently Vacant, already refreshed with new interior paint, 2-inch wood-look faux blinds, and additional cosmetic upgrades—perfect for achieving market rent quickly. All Units Feature Ceramic Tile Flooring, ideal for durability, ease of maintenance, and lower turnover costs. Significant Rental Upside, as existing rents are below current market levels for the area. Excellent Transportation Access, located minutes from State Route 51, connecting residents to major employers, hospitals, parks, and Central Phoenix amenities. Why This Fourplex Performs Well as an Investment This asset checks all the boxes for a low-maintenance, high-demand rental investment: Turnkey exterior improvements already completed Individual outdoor spaces that support stronger rent premiums A refreshed vacant unit ready for lease or owner-occupancy Proven long-term construction type Strong local renter demand driven by proximity to transit corridors and employment

FOR SALE DETAILS

PRICE

$975,000 USD

PRICE/SF

$368 USD /SF

# OF UNITS

4

PRICE/UNIT

$243,750

CAP RATE

Request Cap Rate

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1977

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

M-H

APN/PARCEL ID

159-37-078

ASK ABOUT THIS PROPERTY

Linda GerchickGerchick Real EstateMore Info
602-688-9279

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Linda GerchickGerchick Real EstateMore Info
602-688-9279

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.