822 E Carol Ave, Phoenix, AZ 85020 $749,000 4 plex w/New Roof

The Property

This well-maintained slump-block fourplex is positioned at the end of a quiet cul-de-sac and offers an outstanding combination of long-term durability, strong rental upside, and low-maintenance operating costs. With immediate proximity to SR-51, the property provides fast access to major employment centers including the Biltmore Financial District, Midtown, Downtown Phoenix, and nearby healthcare campuses.

Key Property Highlights

Brand-New Roof with a transferable warranty, providing future owners with peace of mind and reduced capital expense.
Maintenance-Free Landscaping, upgraded with ¼-inch crushed granite and the proper underlying weed-control membrane—dramatically reducing ongoing grounds maintenance.
Private Outdoor Space for Each Tenant, including individual fenced patios and rear yards, increasing tenant satisfaction, retention, and rental demand.
Desirable Slump Block Construction, known for its durability, thermal performance, and long-term stability—ideal for long-term investors.
One Unit Currently Vacant, already refreshed with new interior paint, 2-inch wood-look faux blinds, and additional cosmetic upgrades—perfect for achieving market rent quickly.
All Units Feature Ceramic Tile Flooring, ideal for durability, ease of maintenance, and lower turnover costs.
Significant Rental Upside, as existing rents are below current market levels for the area.
Excellent Transportation Access, located minutes from State Route 51, connecting residents to major employers, hospitals, parks, and Central Phoenix amenities.

Why This Fourplex Performs Well as an Investment

This asset checks all the boxes for a low-maintenance, high-demand rental investment:

Turnkey exterior improvements already completed
Individual outdoor spaces that support stronger rent premiums
A refreshed vacant unit ready for lease or owner-occupancy
Proven long-term construction type
Strong local renter demand driven by proximity to transit corridors and employment

Virtual Tour-Check it out!

If you‘re interested in exploring the features of this property without leaving the comfort of your home, I highly recommend checking out the virtual tour. By clicking on the link provided, you’ll have the opportunity to experience a 360-degree view of the property, giving you a more immersive and interactive perspective. So why not take advantage of this convenient and innovative tool and discover what this property has to offer?

Location

East Sunnyslope – Phoenix, Arizona

Area Overview for Investors & Buyers**

East Sunnyslope is one of Phoenix’s most established and naturally scenic neighborhoods, positioned at the base of the North Mountain Preserve and offering a unique blend of urban convenience and outdoor lifestyle. Located just minutes from State Route 51, the area provides residents with fast access to Downtown Phoenix, Midtown, the Camelback Corridor, and the broader Valley employment base.

Proximity to SR-51 (Highway 51)

East Sunnyslope benefits from immediate access to SR-51, one of Phoenix’s primary north–south freeways. This corridor significantly reduces commute times to:

Downtown Phoenix (approx. 10 minutes)
Biltmore Financial District
Phoenix Children’s Hospital & Medical Cluster
Sky Harbor International Airport
Scottsdale employment corridors

This connectivity is a major reason residents and investors choose the area.

Major Employers Near East Sunnyslope

While Sunnyslope retains a neighborhood character, it is surrounded by several significant employment hubs that attract renters and long-term residents:

Healthcare

HonorHealth John C. Lincoln Medical Center
A major medical employer and long-standing anchor of the Sunnyslope community.
Phoenix Children’s Hospital (PCH) – approx. 10 minutes
Abrazo Health / Arizona Heart Hospital – via SR-51 access
Mayo Clinic Hospital – approx. 15–20 minutes north via SR-51

Healthcare continues to be one of Phoenix’s strongest and fastest-growing employment sectors.

Government & Education

City of Phoenix administrative and service departments
Arizona Department of Economic Security
Nearby public, charter, and private schools creating local employment stability

Corporate & Office Employment

Easy SR-51 access puts residents within minutes of:

Camelback Corridor financial district
Central Avenue business core
Midtown office towers and professional services firms

Parks, Recreation & Lifestyle

East Sunnyslope is known for its natural surroundings and immediate access to outdoor amenities. Popular recreational assets include:

North Mountain Park

A major regional destination offering hiking, biking, scenic overlooks, and desert trails. The park provides direct mountain access while still being inside city limits.

Sunnyslope Park

A community-focused park with open green space, sports courts, and family amenities serving local residents.

Arizona Canal Multi-Use Path

A long, continuous pedestrian and bike path connecting Sunnyslope to Central Phoenix, Biltmore, and East Valley trail systems.

Dreamy Draw Recreation Area (via SR-51)

A short drive away, it offers additional hiking, shaded canyon spaces, and access to the Phoenix Mountain Preserve.

Why East Sunnyslope Appeals to Renters & Investors

Urban convenience with mountain views
Fast access to major highways
Close to hospitals, employment centers, and office corridors
Affordable compared to nearby North Central and Biltmore neighborhoods
Strong demand from healthcare workers, young professionals, and long-term tenants
Mixed housing stock with value-add opportunities

$749,000

Sale Price

$45,224

Effective Operating Income

$9,992

Operating Expenses

$34,232

Net Operating Income

4.76%

Cap Rate

$795,000

Sale Price

$53,885

Proforma Effective Operating Income

$10,657

Proforma Operating Expenses

$42,629

Proforma Net Operating Income

5.65%

Proforma Cap Rate

Offering Memorandum and Marketing Flyer

To access the Offering Memorandum or the one page Flyer, simply click on the button located below. From there, you’ll be able to download the document in PDF format.

Our Offering Memorandum is an essential resource for anyone who is considering investing in our opportunity. It includes all the necessary information, such as the investment terms, potential risks, financial projections, and more. By reviewing this document, you’ll have a complete understanding of what the investment entails.

If you have any questions or would like to learn more about our investment opportunity, please don’t hesitate to reach out to us. We’re always happy to answer any questions and provide you with the information you need to make an informed decision.

Thank you for considering our investment opportunity, and we hope to hear from you soon!

One Page Flyer-Check it out Offering Memorandum-Check it out!