1652 E INDIANOLA Avenue, Phoenix, AZ 85016, Phoenix, 85016 - 2 bed, 2 bath
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Phoenix, AZ 85016
This High-Potential Investment Opportunity is a remodeled duplex listed at $515,000—positioned well below the $522,107 Fair Market Value by 1%. This valuation gap offers $7,107 in Instant Equity. Featuring a Condition Rating of 3, the property provides immediate cash flow with two leased units on a large lot with multifamily zoning. While school ratings are modest, the location near Arcadia Lite ensures strong rental demand. This is an ideal acquisition for Buy-and-Hold Investors or Developers seeking long-term appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1652 E INDIANOLA Avenue Subject | $515,000* List Price | 2 | 2 | 1,456 | $354 | - |
A 2201 E WELDON Avenue Sold | $590,000 | 3 | 2 | 1,453 | $406 | 0.7 mi |
B 1929 E Clarendon Avenue Sold | $565,000 List Price | 2 | 2 | 1,730 | 0.3 mi | |
C 2243 E MULBERRY Drive Sold | $600,000 List Price | 3 | 2 | 1,545 | 0.9 mi | |
D 2022 E MULBERRY Drive Sold | $410,000 | 3 | 2 | 1,556 | $263 | 0.6 mi |
E 2324 E Heatherbrae Drive Sold | $650,000 | 4 | 3 | 1,445 | $450 | 0.9 mi |
F 1636 E PINCHOT Avenue Pending | $549,900 List Price | 2 | 2 | 1,485 | $370 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1930, the property has been remodeled with modern LVP flooring, fresh paint, and new carpeting. It is currently leased and fully functional as a duplex, indicating it is well-maintained and move-in ready, though some dated elements like popcorn ceilings and older windows persist.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 9541, living area = 1456.
The property is a remodeled duplex with both units currently leased, providing investors with stable, immediate rental income and a turnkey investment opportunity.
Sitting on a generous 9,541 sqft lot with favorable multifamily zoning, the property offers significant upside for building additional units or redeveloping for higher density.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 3.
The assigned schools, Loma Linda Elementary and North High School, have low ratings of 2 and 4 respectively, which may limit appeal for family-oriented tenants.
Originally built in 1930, the property may require more frequent maintenance or future updates to aging structural systems compared to newer builds.
Investor/developer opportunity in the heart of Phoenix. This remodeled home is currently set up as a duplex. It features two 2/1 units, both currently leased, delivering immediate and stable cash flow. The property sits on a generously sized lot with favorable multifamily zoning, offering significant potential to build additional units or redevelop for higher density (buyer to verify). Positioned in a high-demand rental corridor near Arcadia Lite and Biltmore Fashion Park, the location supports strong tenant demand and long-term appreciation. Easy access to major freeways, employment hubs, dining, and retail adds to the asset's appeal. Ideal for investors seeking a stabilized income property with clear value-add and development upside in one of Phoenix's fastest-growing submarkets
No exterior & parking available.
Grades PK-8 • 0.5 mi
Grades 9-12 • 1.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 1,456 | - |
| Lot Size | 9,541 | - |
| Price | $515.0K | $495.4K |
| Price per sq ft | $354 | $290 |
| Built year | 1930 | 0 |
| HOA | $0 | $0 |
| Days on market | 100 | 1260 |
May 15, 2026
$515,000
$525,000
-2% Price Drop
Initial Listing
Apr 14, 2026
$525,000
Initial Listing