822 E Carol Avenue, Phoenix, AZ 85020
Local realty services provided by:CENTURY 21 Desert Estates Realty
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 18, 2026 at 03:23 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. ARMLS Member Broker: JoAnn AyresNew listings near 822 E Carol Avenue
- New
$549,000Active3 beds 2 baths1,481 sq. ft.526 W Townley Avenue, Phoenix, AZ 85021
MLS# 7080870Listed by: REDFIN CORPORATION - New
$815,000Active3 beds 2 baths1,684 sq. ft.501 W Diana Avenue, Phoenix, AZ 85021
MLS# 7081030Listed by: REDFIN CORPORATION - New
$265,000Active3 beds 2 baths1,180 sq. ft.2911 W Alice Avenue, Phoenix, AZ 85051
MLS# 7081996Listed by: MY HOME GROUP REAL ESTATE - New
$649,900Active4 beds 2 baths2,294 sq. ft.3408 E Granite View Drive, Phoenix, AZ 85044
MLS# 7082007Listed by: CENTURY 21 ARIZONA FOOTHILLS - New
$1,995,000Active4 beds 4 baths3,325 sq. ft.4432 N 38th Street, Phoenix, AZ 85018
MLS# 7082009Listed by: COMPASS - New
$239,000Active2 beds 2 baths1,082 sq. ft.10410 N Cave Creek Road #2100, Phoenix, AZ 85020
MLS# 7082016Listed by: ENGEL & VOELKERS SCOTTSDALE - New
$349,999Active3 beds 2 baths1,058 sq. ft.4332 W Crittenden Lane, Phoenix, AZ 85031
MLS# 7082043Listed by: REDFIN CORPORATION - New
$350,000Active3 beds 2 baths1,577 sq. ft.2908 W Corrine Drive, Phoenix, AZ 85029
MLS# 7082053Listed by: HOMESMART - New
$658,000Active3 beds 3 baths2,195 sq. ft.30258 N 40th Place, Cave Creek, AZ 85331
MLS# 7082059Listed by: PAN REALTY LLC - New
$389,000Active3 beds 2 baths1,296 sq. ft.4060 W Villa Linda Drive, Glendale, AZ 85310
MLS# 7081973Listed by: REALTY ONE GROUP
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 Century 21 Real Estate LLC. All rights reserved. CENTURY 21®, the CENTURY 21 Logo and C21® are service marks owned by Century 21 Real Estate LLC. Century 21 Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. Listing information is deemed reliable but not guaranteed accurate.