$1,200,000
Rare Opportunity - Oversized Large Duplex / Mother-in-Law Suite / Next Gen home in Central Phoenix!! The Seller is accepting 1031 exchange offers!
Offering five bedrooms and three bathrooms in total, this spacious North Central Phoenix property offers a standout combination of size, extensive updates, and separate living spaces that is hard to find in the surrounding area. The oversized 9,687 square foot lot was originally 2 separate lots that were later combined into 1.
Featuring a three bedroom, two bathroom main house and a two bedroom, one bathroom casita, the property underwent a full renovation that updated everything throughout, including the roof, HVAC, walls, flooring, and appliances. Currently collecting $5,078 per month in combined rent and utility fees, the property offers two existing rental income streams, owned and paid off solar, and no HOA. The main house generates a total of $3,078 per month, consisting of $2,678 in rent plus a $400 utility fee.
The casita generates an additional $2,000 in rent. Combined collections represent $60,936 on an annualized basis at current rates, before expenses.
Separate driveways, individual entrances, and distinct outdoor spaces enhance the property's investment appeal, with additional flexibility for future owner occupancy or multigenerational living.
Situated on a spacious cul-de-sac lot in Citrus Grove, the main residence features its own driveway and a one car garage containing an insulated storage shed. The casita offers its own driveway, a separate entrance, and a gated area that can serve as dedicated yard space. This arrangement provides convenient parking and clearly defined spaces for both residences.
The main home combines classic brick curb appeal with low maintenance desert front landscaping and an expansive paver driveway. Inside, tile flooring, neutral colors, recessed lighting, and abundant natural light create a bright and inviting atmosphere.
The spacious front living room provides plenty of room to gather, while the adjoining kitchen opens to an additional living and dining area centered around a brick fireplace with a raised hearth and wood mantel. Glass doors connect this space to the backyard for convenient outdoor entertaining.
The main kitchen features granite countertops, extensive wood cabinetry, a decorative tile backsplash, stainless steel appliances, and a long breakfast bar. Generous counter space and ample drawers provide everyday functionality, while a skylight adds natural light. An oversized pantry offers substantial storage for food, small appliances, and household essentials.
The generously sized primary suite includes a spacious closet with extensive shelving and hanging space. Its updated bathroom features dual sinks, a large vanity, and a glass enclosed shower with tile surrounds and mosaic accents. A separate toilet room adds privacy.
Additional bedrooms offer ceiling fans and neutral finishes, while the secondary bathroom includes an updated vanity, tiled shower and tub, and a linen closet tucked behind the door for convenient storage of towels and supplies.
An exceptionally large indoor laundry room offers direct access to the backyard and ample space beyond its laundry functions. Previously used as an office by both the owner and tenants, this versatile room provides space for a work area, storage, or other household needs. Its size and separate exterior door also offer an opportunity for buyers to investigate a potential future suite conversion, subject to verification of feasibility, zoning, permits, and applicable approvals. A tankless water heater adds everyday convenience.
The casita enhances the property's investment appeal with its own kitchen featuring granite countertops and wood cabinetry that complement the main residence. A sizable pantry closet adds convenient storage. Its separate entrance, dedicated driveway, and gated yard area create an independent living arrangement, supporting its role as an established second source of rental income.
The main house backyard features an expansive paver patio and two gazebos with benches, creating inviting spaces for relaxing, dining, and entertaining. The casita has its own gated yard area, providing a separate outdoor space.
Located in the heart of North Central Phoenix, Citrus Grove offers an established neighborhood setting close to shopping, dining, and freeway access. The surrounding Central Avenue and Camelback corridors provide a variety of restaurants, retail destinations, and everyday conveniences, with access to employment and entertainment throughout central Phoenix.
With existing rental income, separate driveways and entrances, owned solar, and no HOA, this property presents a compelling investment opportunity with flexibility for the future.
5
Beds
⋅
3
Baths
⋅
7101120
MLS
⋅
2,678
SqFt.
1008 E Citrus Way, Phoenix
