2505 N RICHLAND Street, Phoenix, AZ 85006

$515,500
Property Type: Multiple Dwellings Bedrooms: 4 Baths: 2 Status: Closed
Current Price: $515,500 Last Modified: 9/10/2026

Overview

Description

**Coronado Neighborhood Duplex** This 1950 duplex is a great opportunity for an investor looking for a repositioning opportunity, fix-up or an owner to live in one unit and rent the other. Each unit is a 2 bed/1 bath with a total of 1316 sq ft combined. Long term tenants of almost 14 years who are paying below market rent. So much potential here!! This one is a perfect buy-hold until leases are up in Oct 2022 and reposition/renovate at market rents. Large backyard offers the space to create private rear yards with alley access parking. Units have been maintained nicely but property overall needs reno to yield maximum income potential. Wonderful high demand Coronado Central Phoenix location! **DO NOT DISTURB TENANTS**

Listing Details MLS# 6375001

Location, Tax & Legal

Map Code/Grid
P34
House Number
2505
Compass
N
Street Name
RICHLAND
St Suffix
Street
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85006
Zip4
1086
Country
US
County Code
Maricopa
Subdivision
FOWLER TRACT LOTS 1-96
Assessor Number
117-30-052
Tax Year
2021
Assessor's Map #
30
Legal Description (Abbrev)
LOT 50 FOWLER TRACT LOTS 1-96 MCR 001007
Assessor's Parcel #
52
Add'l Parcels
No
Tax Municipality
Maricopa - COUNTY
Census Tract
111700
Taxes
1829
Legal
LOT 50 FOWLER TRACT LOTS 1-96 MCR 001007
Marketing Name
Coronado Duplex

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
6,750
Year Built
1950
Uncvrd Parking Spcs
2
Total # of Units
2
# of Buildings
Yes
Zoning
R-3
Elementary School District
Phoenix Elementary District
High School District
Phoenix Union High School District
Elementary School
Emerson Elementary School
Jr. High School
Phoenix Prep Academy
High School
North High School

Remarks Misc

Cross Street
7th St. & Thomas
Directions
South on 7th St. from Thomas; East on Sheridan; North on Richland.

Status Change Info

Off Market Date
2022-04-06
Under Contract Date
2022-04-06
Close of Escrow Date
2022-04-28

Legal Info

Township
2N
Range
3E
Section
33
Lot Number
50

More Information

2 Bedroom Units

# 2 Bedroom Units
2
Avg Rent
800
Avg SqFt
658
# Baths
Yes

Structure

Bedrooms Total
4
Bathrooms Total
2

Income Expenses

Net Operating Income
13864.87

Contact Info

List Agent Home Phn
602-578-1169
List Agent Hme Phn 2
602-695-2900
List Agent Cell Phn2
602-695-2900

Sold Info

Loan Type
Conventional
Loan Years
30
Payment Type
Fixed
Closing Cost Split
Normal - N
Buyer Concession $/%
$
Seller Concession $/%
$
Buyer Concession to Seller
0
Seller Concession to Buyer
0

Project Type

Duplex
Yes

Efficiency Units

Avg Rent
0

1 Bedroom Units

Avg Rent
0

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Construction

Block
Yes

Const - Finish

Painted
Yes

Roofing

Composition
Yes

Floors

Ceramic Tile
Yes

Sale Includes

Land & Building
Yes

Income & Expenses

Owner Association
No
Annual Ownr Asoc Fee
0
Operating Exp
1829
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
0
Total Monthly Rental Income
16837.96

Pmt & Rate Info

Cap Rate
2.64
Equity
525000
Down Payment %
0
Monthly Payments
0
Total Owed
0

Lockbox Type

None
Yes

Community Features

No Pool
Yes

Heating

Electric
Yes

Cooling

Ceiling Fan(s)
Yes
Central Air
Yes

Exterior Amenities

Sidewalk(s)
Yes

Tenant Pays

Gas
Yes
Water
Yes
Sewer
Yes
Electricity
Yes
Trash Collection
Yes

Appliances Included

None
Yes

Road Access Type

Alley
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Other (See Remarks)
Yes

Water Source

Individual Meter
Yes

Sewer

Sewer - Public
Yes

Parking Features

On Street
Yes

Electric

APS
Yes

Gas

SW Gas
Yes

Owner Pays

Landscaping
Yes

New Financing

Conventional
Yes

Special

Exclusion(s) See Remarks
Yes

Existing 1st Loan

Treat as Free&Clear
Yes

Reports/Disclosures

None
Yes

Environmental

None
Yes

Property Features

Project Type: Duplex Construction: Block Const - Finish: Painted Roofing: Composition Floors: Ceramic Tile Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Sidewalk(s) Appliances Included: None Cooling: Ceiling Fan(s); Central Air Water Source: Individual Meter Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: On Street Road Access Type: Alley Road Surface Type: Asphalt Owner Pays: Landscaping Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection Source of Fincl Data: Other (See Remarks) Special: Exclusion(s) See Remarks Lockbox Type: None Existing 1st Loan: Treat as Free&Clear New Financing: Conventional Environmental: None
IDX
Listing Office: Keller Williams Realty Biltmore Partners
Last Updated: September - 10 - 2026
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