122 W WASHINGTON Avenue, Gilbert, AZ 85233
Property image
Property image
OFF MARKET

$488,000

Trulia Estimate
  • 5 Beds
  • 2 Baths

122 W WASHINGTON Avenue, Gilbert, AZ 85233

Lacy
Est. Refi. Payment $2,837/mo*
Refinance Your Home
Currently Off Market - Sold Mar 4, 2025 for $430,000

Home Value

Trulia Estimate
$488K
Since last month
Increased$16K (+3.2%)
Since last year
Increased$85K (+20.4%)
Since last sale
Increased$73K (+17%)
Learn more about this home's value by checking out its Trulia Estimate, the value of nearby homes, and how much similar homes have sold for.

Trulia Estimate

The of this home's value increased by +161% in the last 10 years
MonthEstimated value
2026
September 2026$503K
August 2026$497K
July 2026$487K
June 2026$496K
May 2026$499K
April 2026$509K
March 2026$510K
February 2026$530K
January 2026$514K
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016

Comparable sales

These are recently sold homes that have a similar location or other similar features to this home, like bedrooms, bathrooms, and square footage. Get a sense of the expected prices in the area by viewing these homes.
Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
0.44
Multi-Family Home
$1,000,000
04/17/26
12
10
8,350
1.14
Multi-Family Home
$327,000
08/27/26
2
1
1,116
2.64
Multi-Family Home
$367,500
07/06/26
3
2
1,388
2.65
Multi-Family Home
$335,000
03/31/26
3
2
1,118
3.29
Multi-Family Home
$475,000
09/26/25
3
3
1,968
3.52
Multi-Family Home
$429,900
03/17/26
3
2
1,145
3.56
Multi-Family Home
$400,000
02/18/26
3
2
1,145
3.59
Multi-Family Home
$533,000
10/17/25
4
1
-

Nearby home prices

Get a sense of expected prices in the area by checking the value of nearby homes.
Address
Distance
Price
Bed
Bath
Sqft
Status
0.03
$399,000
3
1
940
Recently Sold
0.05
$480,100
3
2
940
Off Market
0.05
$193,000
-
-
-
For Sale
0.04
$327,800
4
1
880
Off Market
0.03
$345,000
2
1
662
Recently Sold
0.04
$383,900
2
2
824
Off Market
0.06
-
-
-
-
Off Market
0.07
$450,000
2
1
844
Recently Sold
0.10
$115,000
-
-
-
Recently Sold
0.11
-
-
-
-
Off Market
0.11
$400,000
2
2
1,757
Recently Sold

Local Information

  • Map ViewExplore the area around 122 W WASHINGTON Avenue.
  • Schools1 Preschool School1 Elementary School2 Middle Schools1 High School
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Multi-Family
Built in 1937
4 Open Spaces

About this House

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
122 W WASHINGTON Avenue, Gilbert, AZ 85233 is a 5 bedroom, 2 bathroom multi-family in Lacy, built in 1937. It last sold for $430,000 on Mar 4, 2025 (1% above the $425,000 asking price). This property is not currently displayed as for sale or rent on Trulia. The Trulia Estimate is $488,000, with a rent estimate of $2,128/month.
Last check for updates: about 14 hours ago
Listed by Sophia J Willets, (561) 269-9525
Grace CRE
Garrett Pedicini, (602) 791-9497
Grace CRE
Bought with: Hannah Hammond, (480) 490-3269, The Firm RE
Source: ARMLS, MLS#6804854
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.

Home Details for 122 W WASHINGTON Avenue

Interior Features

Beds & Baths
Number of Bedrooms: 5Number of Bathrooms: 2
Appliances & Utilities
Appliances: RefrigeratorRefrigerator
Heating & Cooling
Heating: Electric,Natural GasHas CoolingAir Conditioning: ElectricHas HeatingHeating Fuel: Electric
Gas & Electric
Electric: SRPHas Electric on Property
Windows, Doors, Floors & Walls
Flooring: Ceramic Tile
Levels, Entrance, & Accessibility
Floors: Ceramic Tile

Exterior Features

Exterior Home Features
Roof: Composition
Parking & Garage
Open Parking Spaces: 4Has a CarportNo GarageHas Open ParkingParking Spaces: 4Parking: Carport
Frontage
Road Surface Type: AsphaltNot on Waterfront
Water & Sewer
Sewer: Public Sewer

Days on Market

Cumulative Days on Market: 38

Property Information

Year Built
Year Built: 1937
Property Type / Style
Property Type: Residential IncomeProperty Subtype: Multi Family
Building
Construction Materials: Painted, Block
Property Information
Parcel Number: 30218077

Price & Status

Price
List Price: $425,000
Status Change & Dates
Off Market Date: Fri Feb 21 2025

Active Status

MLS Status: Closed

Location

Direction & Address
City: GilbertCommunity: LACY TRACT BLK 9
School Information
Elementary School District: Gilbert Unified DistrictHigh School District: Gilbert Unified District

Community

Community Features: No Pool

Offer

Listing Terms: Conventional, FHA, VA Loan

Business

Business Information
Ownership: Fee Simple

Rental Terms, Policies & Fees

Owner Pays: Water, Sewer

Miscellaneous

Mls Number: 6804854

Additional Information

No Pool

Price and Tax history

DateEventPrice
Mar 4, 2025
Source: ARMLS #6804854
Sold
$430,000
Feb 21, 2025
Source: ARMLS #6803694
Pending
$425,000
Feb 1, 2025
Source: ARMLS #6803694
PriceChange
$425,000
Price increased by 6%
Jan 11, 2025
Source: ARMLS #6803694
Listed For Sale
$400,000
May 16, 2019
Source: N/A
Sold
$295,000

Market trends in Gilbert

Last updated August 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$575K
$1.5K
MoM
Sale-to-List Price
98.8%
0.1%
MoM
Price per sq ft
$279
$0
MoM
Available listings
1109
4
MoM

Around this home

The GreatSchools Rating compares schools on a variety of school quality indicators including test scores, college readiness, equity and more. Learn more.

Neighborhood Overview

Neighborhood stats provided by third party data sources.

LGBTQ Local Legal Protections

Frequently asked questions about 122 W WASHINGTON Avenue

  • What is 122 W WASHINGTON Avenue estimated to be worth?
    Trulia's estimated value for 122 W WASHINGTON Avenue in Gilbert, AZ is $488,000.
  • What is the price history for 122 W WASHINGTON Avenue?
    122 W WASHINGTON Avenue in Gilbert, AZ last sold for $430,000 in March 2025.
  • Is Gilbert a buyer's or seller's market?
    Gilbert is currently a balanced market, based on recent for-sale activity.
  • What's the median sale price in Gilbert?
    The median sale price in Gilbert is $575K. That is up $1.5K from the prior month.
  • Does 122 W WASHINGTON Avenue have air conditioning?
    Yes, 122 W WASHINGTON Avenue in Gilbert, AZ has air conditioning.
  • Does 122 W WASHINGTON Avenue have parking?
    Yes, 122 W WASHINGTON Avenue in Gilbert, AZ has on-site parking.

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