Modern Two-Unit Income
721 E Carol Ave Phoenix, AZ 85020
New
For Sale
$800,000
Built in 2022, this two-unit multifamily property is zoned R-4 and totals 3,702 SF.
Property Size3,702 SF
Price / SF$216.10
Days on Market6
Property Features for 721 E Carol Ave
General Information
- Standard status
- Active
- Size
- 3,702 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2022
Listing Agency:
(480) 285-7244
Listed By:
Brady Zinn · License #AZ #SA714452000
(480) 285-7244
Source:
Svn
Added: Jul 19
Changed: Jul 20
Last Checked: Jul 24 at 8:04AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Brady Zinn
Investment Insights
Based on property information with market context.
This modern two-unit income property offers a 3,702 SF building with two contemporary units. Constructed in 2022, the low-rise configuration is designed for straightforward rental operations within a residential income setting.
Located in the Phoenix area at 721 E Carol Ave, the property is zoned R-4, supporting a versatile multifamily investment use aligned with residential development standards in the area.
With two units in a relatively new building, the asset provides a compact multifamily footprint for investors looking for a contemporary, garden-style setup in an R-4 zoning environment.
Located in the Phoenix area at 721 E Carol Ave, the property is zoned R-4, supporting a versatile multifamily investment use aligned with residential development standards in the area.
With two units in a relatively new building, the asset provides a compact multifamily footprint for investors looking for a contemporary, garden-style setup in an R-4 zoning environment.
Key Highlights
- Built in 2022, 2‑unit multifamily property with a total building size of 3,702 SF
- Zoned R‑4
- Two contemporary units in a low‑rise/garden style building
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 | $73.3k | $19.80 |
| − Vacancy | −$4.0k | −$1.09 |
| EGI | $69.3k | $18.71 |
| − OpEx | −$20.8k | −$5.61 |
| NOI | $48.5k | $13.10 |
3,702 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$692.7K
$606.1K – $808.1K
NOI $48,488 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$616.8K
$539.7K – $719.6K
NOI $43,178 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$1.12M
$981.2K – $1.31M
NOI $78,496 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Built in 2022, this two-unit multifamily property is zoned R-4 and totals 3,702 SF.
Where is this duplex located?
The property is located at 721 E Carol Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Built in 2022, 2‑unit multifamily property with a total building size of 3,702 SF; Zoned R‑4; Two contemporary units in a low‑rise/garden style building
