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Ryan Ney

My Home Group Real Estate

ryan@realscottsdalehomes.com +1(480) 566-9249

$749,000

Est. payment - /mo

5 Beds

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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 6952059

Bedrooms 5

Maintenance Fees $1,200

Year Built 1977

Annual Tax Amount $927

Tax Year 2025

Lot Dimensions irr

Source Arizona Regional Multiple Listing Service (ARMLS)

Property Description

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.

Location

State AZ

County Maricopa

Area Maricopa

Zoning Multi

Direction 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 cross street that connects toward E Carol Ave). Follow N 16th St south toward E Carol Ave. Turn left onto E Carol Ave. Arrive at 822 E Carol Ave (on your right).

Interior

Heating Varies by Unit, Heat Pump

Cooling Ceiling Fan(s), Heat Pump, Varies by Unit

Flooring Carpet

Appliance Free-Standing Range, Refrigerator

Exterior

Exterior Feature Sidewalk(s)

Parking Features Paved, Free, 1 Space/Unit, On Street

Community Features No Pool

Roof Type Composition,See Remarks

Private Pool No

Building

Sewer Public Sewer

Water Master Meter, City Franchise

Structure Type Sidewalk(s)

New Construction No

Schools

School District Glendale Union High School District

Others

Senior Community No

Tax ID 159-37-078

Ownership Fee Simple

Acceptable Financing VA Loan, Cash, No Carry, Conventional, FHA

Disclosures Seller Prop Disc Stm, APOD/Backup Avaible, Sch of Personal Prop

Listing Terms VA Loan, Cash, No Carry, Conventional, FHA

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Listed by Gerchick Real Estate • Linda S Gerchick

NEARBY SCHOOL & BUSINESS

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Ryan Ney

+1(480) 566-9249

Realtor® ~ Team Leader SASA548713000

Scottsdale Speciality Searches

822 E CAROL Avenue Phoenix, AZ 85020

Ryan Ney

Key Details

Location

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOL & BUSINESS

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