822 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#:6952059
Source:ARMLS
Price summary
- Price:$749,000
About this home
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....
Contact an agent
Home facts
- Year built:1977
- Listing ID #:6952059
- Updated:September 15, 2026 at 09:54 PM
Rooms and interior
- Bedrooms:5
- Total bathrooms:4
- Flooring:Carpet, Ceramic Tile, Vinyl
Heating and cooling
- Cooling:Ceiling Fan(s), Heat Pump
- Heating:Heat Pump
Structure and exterior
- Year built:1977
- Construction Materials:Block, Painted, Slump Block
Utilities
- Water:City Franchise, Master Meter
Finances and disclosures
- Price:$749,000
- Tax amount:$927 (2025)
Parking
- Total parking spaces:6
- Parking description:1 Parking Space/Unit, Free Parking, Paved
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.New listings near 822 E Carol Avenue
- New
$345,000Active3 beds 2 baths1,200 sq. ft.9622 N 12th Avenue, Phoenix, AZ 85021
MLS# 7080513Listed by: HOMESMART - New
$115,000Active3 beds 2 baths1,250 sq. ft.1001 N 43rd Avenue #282, Phoenix, AZ 85009
MLS# 7080514Listed by: COLDWELL BANKER REALTY - New
$775,000Active3 beds 2 baths1,570 sq. ft.4329 N 35th Street, Phoenix, AZ 85018
MLS# 7080531Listed by: COMPASS - New
$415,000Active4 beds 3 baths2,397 sq. ft.3021 S 78th Drive, Phoenix, AZ 85043
MLS# 7080538Listed by: OFFERPAD BROKERAGE, LLC - New
$499,000Active3 beds 2 baths1,498 sq. ft.342 N 15th Street E, Phoenix, AZ 85006
MLS# 7080486Listed by: EXP REALTY - New
$629,000Active4 beds 3 baths2,764 sq. ft.2931 W Westland Road, Phoenix, AZ 85085
MLS# 7080499Listed by: IRONWOOD FINE PROPERTIES - New
$585,900Active3 beds 2 baths1,670 sq. ft.20922 N 38th Place, Phoenix, AZ 85050
MLS# 7080445Listed by: REALTY EXECUTIVES ARIZONA TERR - New
$479,900Active4 beds 3 baths2,274 sq. ft.26413 N 65th Drive, Phoenix, AZ 85083
MLS# 7080474Listed by: OFFERPAD BROKERAGE, LLC - New
$349,990Active0.94 Acres3005 W Oberlin Way W, Phoenix, AZ 85083
MLS# 7080476Listed by: DELEX REALTY - New
$3,595,000Active4 beds 5 baths4,246 sq. ft.6021 E Sage Drive, Paradise Valley, AZ 85253
MLS# 7080405Listed by: THE BROKERY
Protect your home and budget from life's surprises with an Assurant Home Warranty, backed by a partner that supports you through every step of homeownership. Explore Plans.
© 2026 Better Homes and Gardens Real Estate LLC. An Anywhere Real Estate company. All rights reserved. Better Homes and Gardens® Real Estate is a registered trademark owned by Meredith Operations Corporation, licensed to Better Homes and Gardens Real Estate LLC and used with permission. Better Homes and Gardens Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Listing information is deemed reliable but is not guaranteed accurate.
Each office is independently owned and operated.
Any services or products provided by third parties are not provided by, affiliated with or related to Better Homes and Gardens Real Estate LLC, or its affiliated companies.