$629,000
Phoenix, AZ 85007
MLS# 6953631
1 / 24
Property Description
Fully renovated and fully furnished, this turnkey 3-unit short-term rental in Downtown Phoenix offers strong, documented cash flow and an impressive 4.8+ star Airbnb rating. The asset generated $119,442 in gross revenue in 2024 and $103,198 in 2025, with a two-year average revenue of approximately $111,320, producing operating income of $62,272 in 2024 and $53,719 in 2025, for a two-year average NOI of roughly $57,996--reflecting strong operating margins of about 52%. This is a stabilized, high-margin hospitality investment ideal for investors seeking immediate cash flow, experienced short-term rental operators expanding their portfolio, or buyers looking for a prime-location income property in one of Arizona's fastest-growing urban markets.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $629,000
List Price: $629,000
Status: Active
List Date: 2025-12-03
Location, Tax & Legal
Assessor's Map #: 14
Legal Description (Abbrev): STEVE RAYBURN SUB
Assessor's Parcel #: 112
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 114302
Taxes: 983
Legal: STEVE RAYBURN SUB
Marketing Name: none
House Number: 1515
Compass: W
Street Name: TONTO
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85007
Zip4: 3540
County Code: Maricopa
Subdivision: STEVE RAYBURN SUBDIVISION
Assessor Number: 112-14-112
Tax Year: 2025
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 1
Lot Size Dimensions: 50x128
Flood Zone: No
Total # of Units: 3
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Elementary School: Paul Dunbar Lawrence School
Jr. High School: Paul Dunbar Lawrence School
High School: Carl Hayden High School
Year Built: 1943
Zoning: R-3
Legal Info
Range: 3E
Section: 7
Township: 1N
Lot Number: 7
Project Type
Tri-Plex: 1
Other Type
House + Rental Units: 1
Construction
Block: 1
Const - Finish
Stucco: 1
Roofing
Composition: 1
Floors
Tile: 1
Sale Includes
Land & Building: 1
Personal Property: 1
Income & Expenses
Annual Elec Exp: 4692
Annual Gas Exp: 0
Annual Ins Exp: 1600
Annual Maint Exp: 12755
Annual Mgmt Exp: 27912
Annual Trash Exp: 300
Annual Wtr/Swr Exp: 600
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Other Expense: 8328
Operating Exp: 57170
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 119442
Pmt & Rate Info
Cap Rate: 9.9
Down Payment %: 5
Monthly Payments: 2378
Total Owed: 0
Payment Includes
Principal: 1
Interest: 1
Taxes: 1
Insurance: 1
Showing Notification Methods
Showing Service: Aligned Showings
Text: 1
Lockbox Type
See Private Remarks: 1
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Window/Wall Unit(s): 1
Cooling
Ceiling Fan(s): 1
Electric: 1
Window/Wall Unit: 1
Individual: 1
Exterior Amenities
Desert Landscaping: 1
Fenced: 1
Separate Storage: 1
Interior Features
Furnished: 1
Fire/Smoke Alarm(s): 1
Fire Sprinklers: 1
Tenant Pays
None: 1
Appliances Included
Built-In Gas Oven: 1
Dishwasher: 1
Free-Standing Gas Oven: 1
Microwave: 1
Refrigerator: 1
Washer/Dryer: 1
Road Access Type
City Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Electric: 1
Gas: 1
Trash Collection: 1
Cable TV: 1
New Financing
Cash: 1
Cash to Loan: 1
VA: 1
Conventional: 1
FHA: 1
No Carry: 1
1031 Exchange: 1
Special
Owner/Agent: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Non Assumable: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
Avg SqFt: 1485
1 Bedroom Units
Avg Rent: 0
Avg SqFt: 360
2 Bedroom Units
Avg Rent: 0
Avg SqFt: 600
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: Buckeye Rd and 15th
Directions: North on 15th Ave from Buckeye Rd, West on Tonto to home on the south.
Geo Lat: 33.438322
Geo Lon: -112.091989
Income Expenses
Gross Annual Sch Inc: 119442
Net Operating Income: 62272
Property Features
Project Type: Tri-Plex
Other Type: House + Rental Units
Construction: Block
Const - Finish: Stucco
Roofing: Composition
Floors: Tile
Sale Includes: Land & Building; Personal Property
Payment Includes: Principal; Interest; Taxes; Insurance
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Fenced; Separate Storage
Interior Features: Furnished; Fire/Smoke Alarm(s); Fire Sprinklers
Appliances Included: Built-In Gas Oven; Free-Standing Gas Oven; Refrigerator; Dishwasher; Microwave; Washer/Dryer
Heating: Window/Wall Unit(s)
Cooling: Ceiling Fan(s); Electric; Window/Wall Unit; Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking Features: Carport
Road Access Type: City Street
Road Surface Type: Asphalt
Owner Pays: Water; Electric; Gas; Trash Collection; Cable TV
Tenant Pays: None
Source of Fincl Data: Owner
Special: Owner/Agent
Showing Notification Methods: Text
Lockbox Type: See Private Remarks; None
Existing 1st Loan: Conventional
Existing 1st Loan Type: Fixed
Existing 1st Loan Terms: Non Assumable
New Financing: Cash; Cash to Loan; VA; FHA; Conventional; No Carry; 1031 Exchange
Environmental: None
Supplements
The property located in a high-demand area of Downtown Phoenix, minutes to Chase Field, the Convention Center, ASU Downtown, Roosevelt Row, Van Buren.
The property features one 2-bed/1-bath unit, one 1-bed/1-bath unit, and a private studio--each with its own kitchen, full bath, and separate entrance - providing three independent income streams under one roof.
A separate laundry room and storage shed support efficient operations for guests and cleaning staff, while the fenced common courtyard with grill, fire pit, lounge seating, and hammock enhances guest experience and occupancy appeal.
Listing Office: eXp Realty
Last Updated: February - 19 - 2026
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