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Christine Espinoza

christine@christineespinoza.com +1(602) 989-7492

$ 1,025,000

Est. payment -/mo

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Price Dropped by $75K

720 E MONTECITO Avenue Phoenix, AZ 85014

UPDATED:

09/28/2024 06:29 PM

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

Parking Type Other (See Remarks)

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

Listed by Matthews Real Estate Investment Services

Christine Espinoza

REALTOR | License ID: SA507573000

+1(602) 989-7492

Christine Espinoza

720 E MONTECITO Avenue Phoenix, AZ 85014

Key Details

Location

Interior

Exterior

Building

Schools

Others

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720 E MONTECITO Avenue