822 E Carol | Occupied Fourplex

822 E Carol Avenue | Phoenix, Arizona | $749,000

Fully occupied fourplex in East Sunnyslope with three one-bedroom residences and one two-bedroom residence. Durable slump-block construction, ceramic tile interiors, private fenced patios and yards, and a new asphalt-shingle roof with transferable warranty support resident appeal.

Current monthly collections total $3,790, including utility reimbursements. Annual scheduled base rent is $42,780 plus $2,700 utility reimbursements. The controlling OM models 3% economic vacancy despite 100% reported physical occupancy. Current modeled NOI is $33,573, a 4.48% cap rate at $749,000.

The illustrative market-rent case averages $1,175 per unit per month and produces approximately $45,727 NOI and a 6.11% cap rate. Market rents and future results are projections, not current income or guarantees.

Four residences on approximately 6,970 SF of land; 1,776 SF of improvements. Built in 1977 with partial renovations reported in 2025. APN 159-37-078. Quiet cul-de-sac setting with access to SR-51, Central Phoenix employment, healthcare, shopping and North Mountain recreation. No seller financing.

View the property website and virtual tour | Schedule a Zoom or phone call with Linda

Linda Gerchick, CCIM | Gerchick Real Estate
602-688-9279 | [email protected]

Tenant leases are not publicly posted and will be provided only after the property is under contract to protect tenant privacy. Do not disturb residents or businesses; all visits require a confirmed appointment.

Information is believed reliable but is not guaranteed. Buyer must independently verify all financial, lease, physical, title, zoning and property information. Projections and financing illustrations are not guarantees. Offering is subject to errors, omissions, price or term changes, prior sale and withdrawal without notice.