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    833 E Alice Ave Phoenix, AZ 85020

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    Sponsored
    For Sale
    $465,000

    MULTI_FAMILY - Phoenix, AZ

    Property size:
    1,479 SF
    Days on Market:
    1
    Last Refresh:
    Mar 12 at 5:06 pm

    Property Features for 833 E Alice Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R-4
    APN
    160-04-162
    Parking features
    Carport
    Appliances
    Free-Standing Gas Oven, Washer/Dryer
    Size
    1,479 SF

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Central Air, Ceiling Fan(s)

    Building Details

    Year built
    1958
    Number of units
    2
    Flooring type
    Carpet, Tile
    Building materials
    Painted, Block
    Roof type
    Composition

    We can help!

    Listing Contact
    Phillip J Norris

    Real Broker (480) 907-8294

    Listing agent Phillip J Norris (602) 600-5387

    Listing date Mar 12, 2026

    MLS# 6996082 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Meticulously Maintained Phoenix Duplex

    Located in North Central Phoenix, this meticulously maintained, single-level duplex is positioned for a house hacker, a Short-Term Rental (STR) operator, or an investor looking to maximize cash flow. Situated across from a park with mountain views, the property balances desert mountain tranquility with city connectivity. The property features a total of 1,479 square feet. The front unit offers a bright 2-bedroom, 1-bathroom layout with a private front courtyard and dedicated off-street parking, encompassing 700 square feet. The rear unit features a spacious 2-bedroom, 1-bathroom layout with a large, private backyard and a 2-car carport equipped with an electric door opener, spanning 779 square feet. A xeriscaped gated common courtyard sits between this duplex and the neighboring building. Easy-to-maintain tile floors sweep through the living rooms, kitchens, hallways, and bathrooms, complemented by carpeting in the bedrooms. Ceiling fans are installed for comfort. Both units feature gas stoves, gas hot water heaters, and refrigerators. Each unit has its own separate, enclosed washer/dryer room with hookups located in the carports. Both units are being sold with the existing washers and dryers included. The roof was completely replaced 6 years ago, and the exterior was freshly painted in June 2021. Residents are minutes from the hiking trails of Piestewa Peak and the Phoenix Mountains Preserve, with access to the AZ-51 freeway for commuting to Downtown Phoenix, the Biltmore district, or Sky Harbor Airport. The dining and retail corridors of 7th Street and Northern Avenue are nearby. Tenant demand is high due to the location between Piestewa Peak and the economic hubs of Downtown and the Biltmore. The property is zoned R-4.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.062405
    Latitude
    33.563926

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    FAQs

    What type of property is this?
    Duplex - Rare, meticulously maintained duplex in North Central Phoenix.
    Where is this duplex located?
    The property is located at 833 E Alice Ave Phoenix, AZ.
    What is the asking price?
    The asking price for this property is $465,000.
    What are key features of this property?
    This property features: - Meticulously maintained duplex with recent upgrades: roof (6 years old), exterior paint (June 2021), and HVAC units with transferable warranties.; - Prime North Central Phoenix location: close to Piestewa Peak hiking trails, with easy access to AZ-51 freeway, Downtown Phoenix, Biltmore district, and Sky Harbor Airport.; - Ideal for house hacking, long-term rentals, or Short-Term Rentals (STR): offers flexibility for different investment strategies.
    (480) 767-3000
    Request Owner's contact information
    833 E Alice Ave Phoenix, AZ 85020
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    Phoenix, AZ 85020
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    833 E Alice Ave Phoenix, AZ 85020
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    We can help!
    Listing Contact
    Phillip J Norris
    Real Estate License ID: SA675423000
    (480) 767-3000 (602) 600-5387
    Learn more
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