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Renovated Triplex 315 E Carol Ave 3 Unit Apartment Building $574,900 ($191,633/Unit) 7.58% Cap Rate Phoenix, AZ 85020
EXECUTIVE SUMMARY
Professionally managed with 1 year leases and security deposits in place. Newly renovated with a new roofing system, exterior and interior paint, new water heaters and plumbing fixtures, new white shaker cabinets, baseboards and trim, stainless steel GE appliances, R-38 insulation, 20 mm vinyl flooring, vinyl windows, and updated heating and cooling. There are 2 buildings with a 1 bedroom 1 bath unit and two 2 bedroom 1 bath units in the rear. Rents are $4,380 per month with RUBS for utilities included.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$52,560
|
$29.51
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$52,560
|
$29.51
|
| Taxes |
$445
|
$0.25
|
| Operating Expenses |
$8,550
|
$4.80
|
| Total Expenses |
$8,995
|
$5.05
|
| Net Operating Income |
$43,565
|
$24.46
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $52,560 |
| Annual Per SF | $29.51 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $52,560 |
| Annual Per SF | $29.51 |
| Taxes | |
|---|---|
| Annual | $445 |
| Annual Per SF | $0.25 |
| Operating Expenses | |
|---|---|
| Annual | $8,550 |
| Annual Per SF | $4.80 |
| Total Expenses | |
|---|---|
| Annual | $8,995 |
| Annual Per SF | $5.05 |
| Net Operating Income | |
|---|---|
| Annual | $43,565 |
| Annual Per SF | $24.46 |
PROPERTY FACTS
| Price | $574,900 | Building Class | C |
| Price Per Unit | $191,633 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 1,781 SF |
| Cap Rate | 7.58% | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1940/2025 |
| Property Subtype | Apartment | Parking Ratio | 2.81/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R-3 - Multi Family | ||
| Price | $574,900 |
| Price Per Unit | $191,633 |
| Sale Type | Investment |
| Cap Rate | 7.58% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 1,781 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1940/2025 |
| Parking Ratio | 2.81/1,000 SF |
| Zoning | R-3 - Multi Family |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Washer/Dryer
- Ceiling Fans
- Tile Floors
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
- Vinyl Flooring
- Quartz Countertops
SITE AMENITIES
- Courtyard
- Laundry Facilities
- Gas Range
- Smoke Free
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $995.00 | 480 |
| 2+1 | 2 | $1,295 | 640 |
1 1
Walk Score®
Very Walkable (84)
Bike Score®
Very Bikeable (74)
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Renovated Triplex | 315 E Carol Ave
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