Remodeled Duplex with Two
For Sale
$399,999
5959 W GARDENIA Avenue, Glendale, AZ 85301
MULTI_FAMILY - Glendale, AZ
Property Size1,286 SF
Price / SF$311.04
Days on Market22
Property Features for 5959 W GARDENIA Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2
Parking features
Off Street
Appliances
Built-In Range, Refrigerator, Microwave, Washer/Dryer
Subdivision
FURREY COURT
Elementary school
Glendale Landmark School
Middle school
Glendale Landmark School
High school
Glendale High School
Elementary school district
Glendale Elementary District
Middle school district
Glendale Union High School District
High school district
Glendale Union High School District
Directions
Head toward W Northern Ave. Turn right onto N 59th Ave. Turn right onto W Orangewood Ave. Turn left onto N 59th Ln. Turn right onto W Gardenia Ave. Home will be on the left.
Standard status
Active
APN
143-43-110
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 26 FURREY COURT MCR 003649
Tax Annual Amount
859
Legal Description
LOT 26 FURREY COURT MCR 003649
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Ceiling Fan(s), Electric
Building Details
Year built
1947
Number of units
2
Flooring type
Laminate, Tile
Building materials
Wood Frame, Painted, Stucco
Roof type
Composition
Listing Agency:
eXp Realty
(623) 293-6902
Listed By:
Iris Beas · License #SA695404000
(623) 293-6902
Added: Jul 22
Changed: Aug 9
Last Checked: Aug 12 at 2:06AM
MLS# 7057120
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 remodeled duplex in Glendale provides two separate units totaling 1,286 sq ft. Unit 1 features 2 bedrooms and 1 bathroom in 647 sq ft, while Unit 2 offers 1 bedroom and 1 bathroom in 639 sq ft. Both units include updated finishes, tile/vinyl plank flooring, and dual pane windows. Renovations also include a modern kitchen, fresh paint, and stylish bathrooms.
The property is located at 5959 W Gardenia Avenue in Glendale and zoned R-2. The duplex includes two driveway spaces and a low-maintenance gravel yard. Public remarks note it is close to shopping, dining, and easy freeway access.
With two independently arranged units, the property supports rental income potential for investors or owner-occupants.
The property is located at 5959 W Gardenia Avenue in Glendale and zoned R-2. The duplex includes two driveway spaces and a low-maintenance gravel yard. Public remarks note it is close to shopping, dining, and easy freeway access.
With two independently arranged units, the property supports rental income potential for investors or owner-occupants.
Key Highlights
- Remodeled 2‑unit duplex built in 1947 with 1,286 sq ft total living space
- Unit 1: 2 bed/1 bath, 647 sq ft; Unit 2: 1 bed/1 bath, 639 sq ft
- Updated dual pane windows and updated finishes throughout
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,190
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$283,800
$283.8K
Cap Rate 7%
$202,714
$202.7K
Cap Rate 9%
$157,667
$157.7K
Market Conditions
NOI Build-Up for 1,286 SF
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.
Gross rent
$21.6K $16.80/SF
− Vacancy
−$1.3K −$1.04/SF
EGI
$20.3K $15.76/SF
− OpEx
−$6.1K −$4.73/SF
NOI
$14.2K $11.03/SF
Area
Glendale, AZ
Vacancy
6.17%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$283,800
Cap Rate 7%
$202,714
Cap Rate 9%
$157,667
Alternative Uses
Best Use
Multifamily LT 5
$202.7K
$177.4K – $236.5K
NOI $14,190 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$187.1K
$163.7K – $218.2K
NOI $13,094 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$403.9K
$353.5K – $471.3K
NOI $28,276 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,359
Businesses Nearby
Explore this area
Business Placement
Demographics for 85301, AZ
67,380
Population
24,019
Households
2.8
Avg Household Size
30
Median Age
11%
College-Educated
71%
High-School Grad
9.3 sq mi
ZIP Area
7,245
Density / Sq Mi
$47,422
Median Household Income
$33,727
Median Earnings
$1,189
Median Rent
$218,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Remodeled duplex offering two separate units with updated finishes, dual pane windows, and a low-maintenance gravel yard.
Where is this duplex located?
The property is located at 5959 W GARDENIA Avenue Glendale, AZ.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Remodeled 2‑unit duplex built in 1947 with 1,286 sq ft total living space; Unit 1: 2 bed/1 bath, 647 sq ft; Unit 2: 1 bed/1 bath, 639 sq ft; Updated dual pane windows and updated finishes throughout
