2522 W Palo Verde Drive, Phoenix, AZ 85017
$460,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$460,000
Last Modified:
12/16/2025
Description
4-Plex Investment Opportunity!
Discover this incredible value-add multifamily property featuring four 2-bed, 1-bath units across two duplex buildings at 2522 & 2528 W Palo Verde Dr, Phoenix, AZ 85017. Two units (2522 B & 2528 B) are currently rented at $840 and $780 per month, providing immediate income. The remaining two units are vacant and ready for renovation, offering great upside potential for increased rents or resale value. Located near GCU and major transportation routes, this property is perfect for investors seeking strong cash-flow potential in a high-demand rental area. With a little vision and improvement, this 4-plex can become a top performer in your portfolio!
More Information MLS# 6946557
Contract Info
Ownership: Fee Simple
Current Price: $460,000
Sold Price: $460,000
Status: Closed
List Date: 2025-11-13
Location, Tax & Legal
Assessor's Map #: 5
Legal Description (Abbrev): BETHANY MAIN PLAT 2
Assessor's Parcel #: 54
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 107300
Taxes: 1873
Legal: BETHANY MAIN PLAT 2
Marketing Name: Duplex
House Number: 2522
Compass: W
Street Name: Palo Verde
St Suffix: Drive
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85017
Zip4: 2101
County Code: Maricopa
Subdivision: Bethany Main
Assessor Number: 153-05-054-A
Tax Year: 2024
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 4
Lot Size Dimensions: 14600
Total # of Units: 4
Elementary School District: Alhambra Elementary District
High School District: Phoenix Union High School District
Elementary School: Alhambra Preschool Academy
Jr. High School: Alhambra Traditional School
High School: Alhambra High School
Year Built: 1959
Zoning: R3
Legal Info
Range: 2E
Section: 13
Township: 2N
Lot Number: 25
Project Type
Four Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Rolled: 1
Floors
Vinyl: 1
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 0
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 1873
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0
Total Monthly Rental Income: 2375
Pmt & Rate Info
Cap Rate: 4.9
Down Payment: 0
Equity: 424900
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
Combo: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Electric: 1
Tenant Pays
Other (See Remarks): 1
Appliances Included
Dishwasher: 1
Microwave: 1
Refrigerator: 1
Free-Standing Range: 1
None: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Unknown: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
Add'l Parking Avail: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Other: 1
See Remarks: 1
New Financing
Conventional: 1
Special
Owner/Agent: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 0
Avg SqFt: 864
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: 27th Avenue & Bethany Home Road
Geo Lat: 33.522951
Geo Lon: -112.113539
Status Change Info
Off Market Date: 2025-12-11
Under Contract Date: 2025-11-20
Close of Escrow Date: 2025-12-15
Sold Price: $460,000
Income Expenses
Net Operating Income: 20837
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted
Roofing: Rolled
Floors: Vinyl; Carpet
Sale Includes: Land & Building
Community Features: No Pool
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Microwave; None
Cooling: Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: Carport; Add'l Parking Avail
Road Surface Type: Asphalt
Owner Pays: Other; See Remarks
Tenant Pays: Other (See Remarks)
Source of Fincl Data: Unknown
Special: Owner/Agent
Lockbox Type: Combo
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional
Environmental: None
Listing Office:
HomeSmart
Last Updated: December - 16 - 2025
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