720 E MONTECITO Avenue Active Save Request In-Person Tour Request Virtual Tour
Phoenix,AZ 85014
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Carolyn Place Lot 1-9, 46-54
MLS Listing ID 6714468
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1955
Annual Tax Amount $2,798
Tax Year 2023
Lot Dimensions 9,095
Property Description
Montecito is a 4-unit apartment community located in the Midtown Phoenix Submarket. Built in 1955, the asset has been extensively renovated over the past few years and features (3) 2+1 units and (1) 1+1 unit . Current ownership has successfully run short-term rentals on 3 of the 4 units through Air BnB. New ownership will have the opportunity to take over the 3 units furnished and continue the current operation or run as a traditional apartment building. Significant capital is being invested in the immediate area with the addition of Fate Brewery and several new townhome developments around the corner. The property also sits in close proximity to Carl T Hayden VA Hospital, Brophy & Xavier Prep Schools, and provides easy access to Midtown & Downtown Phoenix.
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Location
State AZ
County Maricopa
Community Carolyn Place Lot 1-9, 46-54
Zoning R-4
Interior
Heating Individual
Cooling Individual
Flooring Vinyl
Appliance BI Oven/Range,Washer/Dryer
Exterior
Garage Other (See Remarks)
Community Features No Pool
Waterfront No
Roof Type Composition
Total Parking Spaces 6
Building
Sewer Public Sewer
Water City Franchise,Master Meter
Schools
School District Phoenix Union High School District
Others
Senior Community No
Tax ID 155-19-027
Acceptable Financing Conventional
Listing Terms Conventional