5520 W PALMAIRE Avenue, Glendale, AZ 85301
$480,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$480,000
Last Modified:
3/03/2026
Description
Prime Investment Opportunity in Glendale! This unique triplex is just minutes from downtown Glendale and the charming Caitlin Court Historic District. Offering a mix of unit sizes—one 1-bedroom, one 2-bedroom, and one 3-bedroom—this property provides excellent rental flexibility. One unit is a standalone home, while the other two are connected, adding to the character and appeal. Currently, one unit is leased through 5/31/2025, ensuring immediate income. Don't miss your chance to own a distinctive, income-generating property in a highly desirable location.
More Information MLS# 6816640
Contract Info
Ownership: Fee Simple
Current Price: $480,000
Sold Price: $480,000
Status: Closed
List Date: 2025-02-04
Location, Tax & Legal
Assessor's Map #: 25
Legal Description (Abbrev): PARK
Assessor's Parcel #: 9
Add'l Parcels: No
Tax Municipality: Glendale
Census Tract: 92500
Taxes: 1252
Legal: Lot 8 Block 7 Park ADDN BLKS 26-28, 7-15 MCR 000342
Marketing Name: Park Addn 16-19
House Number: 5520
Compass: W
Street Name: PALMAIRE
St Suffix: Avenue
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85301
Zip4: 2508
County Code: Maricopa
Subdivision: PARK ADDN 16-19
Assessor Number: 147-25-009
Tax Year: 2024
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 2
Lot Size Dimensions: 50 X 140
Total # of Units: 3
Elementary School District: Glendale Elementary District
High School District: Glendale Union High School District
Elementary School: Glendale Landmark School
Jr. High School: Glendale Landmark School
High School: Glendale High School
Year Built: 1957
Zoning: C-2
Legal Info
Range: 2E
Section: 5
Township: 2N
Block: 7
Lot Number: 8
Project Type
Tri-Plex: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Other Expense: 4620
Operating Exp: 5872
Other Income: 0
Vacancy Allowance: 0.1
Adjusted Gross Inc: 41580
Pmt & Rate Info
Cap Rate: 6.49
Equity: 550000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Electric: 1
Interior Features
Unfurnished: 1
Tenant Pays
Gas: 1
Water: 1
Sewer: 1
Electricity: 1
Trash Collection: 1
Cable TV: 1
Landscaping: 1
Appliances Included
Disposal: 1
Refrigerator: 1
Free-Standing Range: 1
W/D Hookup: 1
Road Surface Type
Dirt: 1
Source of Fincl Data
Owner: 1
Water Source
Individual Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
None: 1
New Financing
Cash: 1
Conventional: 1
Owner May Carry: 1
Wraparound: 1
1031 Exchange: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Non Assumable: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 1150
Avg SqFt: 500
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1300
Avg SqFt: 750
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 1450
Avg SqFt: 1250
# Baths: 1
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: FHA
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
Remarks Misc
Cross Street: 55th Ave and Glendale
Directions: Head west from 51st Ave and Glendale, turn right on 55th Ave and go north to Palmaire Ave. West to property on the right.
Geo Lat: 33.54119
Geo Lon: -112.178344
Status Change Info
Off Market Date: 2025-05-28
Under Contract Date: 2025-03-16
Close of Escrow Date: 2025-05-23
Sold Price: $480,000
Income Expenses
Gross Annual Sch Inc: 46200
Net Operating Income: 35708
Property Features
Project Type: Tri-Plex
Construction: Wood Frame
Const - Finish: Painted
Roofing: Composition
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool
Interior Features: Unfurnished
Appliances Included: Free-Standing Range; Refrigerator; Disposal; W/D Hookup
Cooling: Ceiling Fan(s); Electric; Central Air
Water Source: Individual Meter
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: Carport
Road Surface Type: Dirt
Owner Pays: None
Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Cable TV; Landscaping
Source of Fincl Data: Owner
Lockbox Type: None
Existing 1st Loan: Conventional
Existing 1st Loan Type: Fixed
Existing 1st Loan Terms: Non Assumable
New Financing: Cash; Conventional; Owner May Carry; Wraparound; 1031 Exchange
Environmental: None
Listing Office:
Best Move Real Estate
Last Updated: March - 03 - 2026
Broker Attribution:
480-570-1835
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