122 W Washington Avenue, Gilbert, AZ 85233
- $430,000
- Sold Price
- $430,000
- List Price
- $425,000
- Closing Date
- Mar 04, 2025
- Days on Market
- 39
- Status
- CLOSED
- MLS#
- 6804854
- City
- Gilbert
- Subdivision
- Lacy Tract Blk 9
- Year Built
- 1937
Property Description
Discover a unique opportunity to own a piece of historic charm in the heart of Downtown Gilbert! This delightful property offers not one, but two homes on the same lot, making it an ideal choice for savvy investors, first-time buyers, or those seeking a multi-generational living arrangement. Main House Features: 3 Bedrooms & 1.5 Bathrooms 1,124 square feet. Cozy yet spacious living areas with character-rich details. A single-car carport for convenient parking. Perfect for a small family or those looking to make this gem their own. Guest House Features: 750 square feet 2 Bedrooms & 1 Bathroom Separate entry and utilities for added privacy and independence. Ideal for rental income, extended family, or a private workspace. Prime Location: Just steps away from Downtown Gilbert's bustling dining, entertainment, and shopping scene. Dual Utility Setup: Both homes are separately metered for electricity and water, offering flexibility and easy management. Shared trash service simplifies maintenance. Investment Opportunity: With both homes tenant-occupied, you can start earning income immediately. Important Notes: The main house features variations in floor levels, adding a touch of character to the layout. This is a rare chance to own a property in one of the most sought-after areas of Gilbert, with endless potential to customize or maintain as an income-generating asset. Current tenants are month to month. Rented way below market $900-$1,100 Market rents are $1500-$1700 for the two bedroom and $1,900 to $2,200 3 bedroom Zoned single family one meter shares utilities costs between houses one meter for water and sewer and trash All facts and figures are approximate buyer verify MLS information Drive by only do not disturb tenants Don't miss your chance to own this incredible property in the heart of Downtown Gilbert. Attention tenants are month to month $900-$1100. 2 electric meters (only 1 turned on), 1 gas meter for front unit (back unit has no gas), 1 water meter
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Additional Information
- Community Features
- No Pool
- Construction
- Block, Painted
- Cooling
- Electric
- Electric
- SRP
- Flooring
- Ceramic Tile
- Heating
- Electric, Natural Gas
- New Financing
- VA Loan, FHA, Conventional, Cash
- Parking Features
- Carport
- Roofing
- Composition
- Subdivision
- Lacy Tract Blk 9
- Taxes
- $1,144
- Tax Year
- 2024
- Tenant Pays
- Water, Sewer, Electricity
- Units
- 2
- Water
- City Franchise
- Zoning
- R-6
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Listing courtesy of Grace CRE. Selling Office: The Firm RE.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved.