Masonry Duplex with Private
1235 E WOOD Street Phoenix, AZ 85040
For Sale
$422,000
MULTI_FAMILY - Phoenix, AZ
Property Size2,240 SF
Price / SF$188.39
Days on Market149
Property Features for 1235 E WOOD Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-4
- Appliances
- Free-Standing Range, Disposal, Refrigerator, Free-Standing Electric Oven, W/D Hookup
- Standard status
- Active
- APN
- 113-25-011-D
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- CENTERGROVE TRACT MCR 18-7 LOT 10 EX W 76F & EX E 150F
- Tax Annual Amount
- 754
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating)
- Cooling system
- Electric, Ceiling Fan(s)
Building Details
- Year built
- 2003
- Number of units
- 2
- Flooring type
- Tile - Ceramic
- Building materials
- Painted, Block
- Roof type
- Composition
Listing Agency:
Redfin Corporation
(602) 483-4919
Listed By:
Hai Kim Bigelow
(602) 885-4900
Added: Feb 26
Changed: Jul 9
Last Checked: Jul 25 at 11:06PM
MLS# 6989977
Copyright © 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This masonry (block) duplex was built in 2003 and includes two spacious, tenant-occupied units. Each unit is laid out with three bedrooms and two full bathrooms and features tile flooring throughout, ceiling fans in every room, and bright, open great rooms for everyday living. Kitchens are functional and L-shaped, with a refrigerator, stove/oven, and garbage disposal. The property is served by all-electric systems designed to simplify maintenance.
Updates include brand new 2025 electric A/C and heating systems for both units, along with one new water heater. Outdoors, each residence offers a large front patio plus private side and backyard spaces. The property is zoned R-4 and is located near schools, shops, and hiking trails. Access will be arranged upon accepted contract, and tenants are currently in place.
With both units leased at $1,187 and $1,090 per month (as stated), the duplex is suited to buyers looking for an investor-friendly setup or owner-occupants who want flexible living while maintaining rental income. The combined configuration, durable finishes, and recent major mechanical refreshes support a straightforward, maintenance-conscious ownership experience.
Updates include brand new 2025 electric A/C and heating systems for both units, along with one new water heater. Outdoors, each residence offers a large front patio plus private side and backyard spaces. The property is zoned R-4 and is located near schools, shops, and hiking trails. Access will be arranged upon accepted contract, and tenants are currently in place.
With both units leased at $1,187 and $1,090 per month (as stated), the duplex is suited to buyers looking for an investor-friendly setup or owner-occupants who want flexible living while maintaining rental income. The combined configuration, durable finishes, and recent major mechanical refreshes support a straightforward, maintenance-conscious ownership experience.
Key Highlights
- Masonry (block) duplex built in 2003 with two spacious units, each approx. 1,120 sq ft, 3 beds, and 2 full baths
- All‑electric units with electric heating and cooling plus ceiling fans in every room
- Both units include tile - ceramic flooring and L‑shaped kitchens with refrigerator, stove/oven, and garbage disposal
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.4k | $19.80 |
| − Vacancy | −$2.4k | −$1.09 |
| EGI | $41.9k | $18.71 |
| − OpEx | −$12.6k | −$5.61 |
| NOI | $29.3k | $13.10 |
2,240 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$419.1K
$366.7K – $489.0K
NOI $29,339 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$373.2K
$326.6K – $435.4K
NOI $26,126 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$678.5K
$593.7K – $791.6K
NOI $47,496 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two all-electric, three-bedroom units with patios and 2025 HVAC updates offer turnkey rental flexibility.
Where is this duplex located?
The property is located at 1235 E WOOD Street Phoenix, AZ.
What is the asking price?
The asking price for this property is $422,000.
What are key features of this property?
This property features: Masonry (block) duplex built in 2003 with two spacious units, each approx. 1,120 sq ft, 3 beds, and 2 full baths; All‑electric units with electric heating and cooling plus ceiling fans in every room; Both units include tile - ceramic flooring and L‑shaped kitchens with refrigerator, stove/oven, and garbage disposal
