748 E Carol Avenue, Phoenix, AZ 85020
Local realty services provided by:Better Homes and Gardens Real Estate S.J. Fowler
Listed by:linda s gerchick
Office:gerchick real estate
MLS#:6828439
Source:ARMLS
Price summary
- Price:$595,000
About this home
Prime Investment Opportunity: Renovated 3-Bedroom Home with Development Potential for 8 Multifamily Units
An Exceptional Value-Add Opportunity in a Growing Market
Seize this rare investment opportunity featuring a beautifully renovated 3-bedroom, 2-bathroom home alongside a prime development site with the potential to build 8 brand-new multifamily units. Whether you're an investor looking for immediate rental income, a developer seeking a new project, or a buyer looking to live onsite while planning future development, this property offers an unmatched combination of income potential and long-term appreciation.
Property Highlights:
🏡 Single-Family Home:
Fully renovated 3-bed, 2-bath home with modern finishes
Spacious open floor plan, updated kitche Prime Investment Opportunity: Renovated 3-Bedroom Home with Development Potential for 8 Multifamily Units
An Exceptional Value-Add Opportunity in a Growing Market
Seize this rare investment opportunity featuring a beautifully renovated 3-bedroom, 2-bathroom home alongside a prime development site with the potential to build 8 brand-new multifamily units. Whether you're an investor looking for immediate rental income, a developer seeking a new project, or a buyer looking to live onsite while planning future development, this property offers an unmatched combination of income potential and long-term appreciation.
Property Highlights:
á Single-Family Home:
Fully renovated 3-bed, 2-bath home with modern finishes
Spacious open floor plan, updated kitchen with stainless steel appliances, and designer fixtures
Ideal for rental income or owner-occupancy while building the multifamily units
Strong rental demand in the area ensures immediate cash flow
× Multifamily Development Potential:
Opportunity to build 8 new multifamily units - maximize density and income
Favorable zoning allows for efficient and high-yield construction
Opportunity to build high-demand rental units in a supply-constrained market
Site layout designed for optimal tenant experience and operational efficiency
=Í Strategic Location:
Located in a rapidly growing neighborhood with strong rental demand
Close to major employment centers, schools, shopping, and transit corridors
Easy access to highways and public transportation, enhancing tenant appeal
Surging property values in the area make this an ideal long-term hold
Investment Advantages:
Dual income streams: Generate revenue from the existing home while developing the new units
Reduced risk: Immediate cash flow from the home offsets carrying costs during development
High return potential: Multifamily construction unlocks significant equity and income growth
Tax benefits: Depreciation, interest deductions, and potential cost segregation strategies
Investor's Vision:
This property is perfect for an investor or developer looking to capitalize on a turnkey home with near-term development potential. Whether you're flipping, holding for rental income, or building for long-term equity growth, this is an exceptional opportunity in today's competitive market.
Don't miss out on this rare investment! Contact us today for more details, financial projections, and site plans.
Disclaimer: Buyer to verify all facts and figures. Information deemed reliable but not guaranteed.
Discover the Vibrant Community of 85020!
Nestled in the heart of Phoenix, the 85020 area offers a perfect blend of urban convenience and natural beauty. Here's why this area is a standout choice for your next move:
**Prime Location**
Located just minutes from the 51 Highway, commuting is a breeze whether you're heading downtown or exploring the Valley. This convenient access ensures you're always connected to the pulse of the city.
**Natural Oasis**
Embrace outdoor living with North Mountain Park at your doorstep. Enjoy hiking trails, scenic picnic spots, and breathtaking views of the Valleyall just moments away from home. It's the perfect escape for outdoor enthusiasts and families alike.
**Thriving Community**
85020 is more than just a neighborhood; it's a vibrant community with diverse amenities. Explore local dining hotspots, boutique shops, and cultural attractions that reflect the rich tapestry of Phoenix living.
**Employment Hub**
With major employers like [Banner Hospital, the area offers promising career opportunities without the long commute. Whether you're starting a new job or advancing your career, 85020 puts you in the center of it all.
**Your Gateway to Phoenix Living**
Experience the best of urban convenience and natural beauty in 85020. Whether you're looking for a place to call home or seeking an investment opportunity, this area promises a lifestyle that blends modernity with the tranquility of nature.
Explore 85020 today and discover why it's more than just an addressit's a destination.
Contact an agent
Home facts
- Year built:1939
- Listing ID #:6828439
- Updated:October 08, 2025 at 02:59 PM
Heating and cooling
- Cooling:Ceiling Fan(s), Heat Pump, Individual Cooling
- Heating:Heat Pump, Individual Heating
Structure and exterior
- Year built:1939
Utilities
- Water:City Franchise, Individual Meter
Finances and disclosures
- Price:$595,000
- Tax amount:$1,263 (2024)
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