2522 W Palo Verde Drive, Phoenix, AZ 85017

$424,900

Property Type: Multiple Dwellings Status: UCB (Under Contract-Backups)

Current Price: $424,900 Last Modified: 6/25/2026

Overview

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!

Listing Details MLS# 6946557

Location, Tax & Legal

House Number: 2522
Compass: W
Street Name: Palo Verde
St Suffix: Drive
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85017
Zip4: 2101
Country: US
County Code: Maricopa
Subdivision: Bethany Main
Assessor Number: 153-05-054-A
Tax Year: 2024
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

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 14600
Year Built: 1959
Uncvrd Parking Spcs: 4
Total # of Units: 4
# of Buildings: 2
Zoning: R3
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

Remarks Misc

Cross Street: 27th Avenue & Bethany Home Road

Legal Info

Township: 2N
Range: 2E
Section: 13
Lot Number: 25

Income Expenses

Net Operating Income: 20837

More Information

Showing Notification Methods

Showing Service: Aligned Showings

2 Bedroom Units

# 2 Bedroom Units: 4
Avg SqFt: 864
# Baths: Yes
Avg Rent: 0

Project Type

Four Plex: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Rolled: Yes

Floors

Vinyl: Yes
Carpet: Yes

Sale Includes

Land & Building: Yes

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

Lockbox Type

Combo: Yes

Community Features

No Pool: Yes

Heating

Electric: Yes

Cooling

Electric: Yes

Tenant Pays

Other (See Remarks): Yes

Appliances Included

Dishwasher: Yes
Microwave: Yes
Refrigerator: Yes
Free-Standing Range: Yes
None: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Unknown: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes
Add'l Parking Avail: Yes

Electric

SRP: Yes

Gas

None: Yes

Owner Pays

Other: Yes
See Remarks: Yes

New Financing

Conventional: Yes

Special

Owner/Agent: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Not Applicable: Yes

Existing 1st Loan Terms

Not Applicable: Yes

Existing 2nd Loan

Other (See Remarks): Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Other (See Remarks): Yes

Existing 3rd Loan Type

Not Applicable: Yes

Reports/Disclosures

None: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

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: June - 25 - 2026