$2,500,000
Phoenix, AZ 85016
MLS# 6973902
1 / 22
Property Description
Exceptional opportunity to acquire a fully remodeled 9-unit multifamily asset in one of Phoenix's most desirable rental corridors. Located just minutes from the Biltmore area, this stabilized property offers immediate cash flow with 100% occupancy and strong long-term appreciation upside. Each unit has been thoughtfully renovated, appealing to today's renter demand while minimizing future capital expenditures. The property is professionally maintained and positioned in a high-demand submarket with consistent rental growth. This is a rare chance to own a turnkey, stabilized multifamily property in a core Phoenix location with strong demographics and proven rental demand. Ideal for investors seeking a low-maintenance asset in a premier submarket.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $2,500,000
List Price: $2,500,000
Status: Active
List Date: 2026-01-23
Location, Tax & Legal
Assessor's Map #: 51
Legal Description (Abbrev): N 170' OF W 178' OF NW4 SW4 NW4 EX N 30' & W 40' RDS .44 AC
Assessor's Parcel #: 57
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 107700
Taxes: 5574
Legal: N 170' OF W 178' OF NW4 SW4 NW4 EX N 30' & W 40' RDS .44 AC
Marketing Name: N/A
House Number: 1605
Compass: E
Street Name: MONTEBELLO
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85016
Zip4: 2952
County Code: Maricopa
Assessor Number: 164-51-057-A
Tax Year: 2025
General Property Description
# of Buildings: 3
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 137' x 140'
Flood Zone: No
Total # of Units: 9
Elementary School District: Madison Elementary District
High School District: Phoenix Union High School District
Elementary School: Madison Rose Lane School
Jr. High School: Madison #1 Elementary School
High School: North High School
Year Built: 1961
Zoning: RES
Legal Info
Range: 3E
Section: 15
Township: 2N
Lot Number: 164-51-057-A
Project Type
5 - 12 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Laminate: 1
Sale Includes
Land & Building: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 5574
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 180000
Pmt & Rate Info
Equity: 2500000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Text: 1
Email: 1
Phone Call: 1
Lockbox Type
See Private Remarks: 1
Community Features
No Pool: 1
Heating
Hot Water: 1
Cooling
Ceiling Fan(s): 1
Exterior Amenities
Desert Landscaping: 1
Partially Fenced: 1
Patio/Balcony: 1
Tenant Pays
Electricity: 1
Appliances Included
Dishwasher: 1
Microwave: 1
Refrigerator: 1
Built-In Range: 1
Washer/Dryer: 1
Road Access Type
City Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Road Responsibility
City Maintained Road: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Detached Carport: 1
1 Space/Unit: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Other: 1
New Financing
Cash: 1
Conventional: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
# Efficiency Units: 2
Avg Rent: 1800
Avg SqFt: 750
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 2
Avg Rent: 1800
Avg SqFt: 750
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1800
Avg SqFt: 750
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 2
Avg Rent: 1800
Avg SqFt: 750
# Baths: 1
4 Bedrooms Units
# 4 Bedroom Units: 2
Avg Rent: 1200
Avg SqFt: 750
# Baths: 1
Remarks Misc
Cross Street: Bethany Home Rd & 16th St
Directions: Head south onto N 16th St to property. Property will be on the left after E Montebello Ave.
Geo Lat: 33.519832
Geo Lon: -112.047149
Income Expenses
Gross Annual Sch Inc: 180000
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Laminate
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Partially Fenced; Patio/Balcony
Appliances Included: Built-In Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer
Heating: Hot Water
Cooling: Ceiling Fan(s)
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: 1 Space/Unit; Detached Carport
Road Access Type: City Street
Road Surface Type: Asphalt
Road Responsibility: City Maintained Road
Owner Pays: Other
Tenant Pays: Electricity
Source of Fincl Data: Owner
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: See Private Remarks
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
New Financing: Cash; Conventional
Environmental: None
Listing Office: My Home Group Real Estate
Last Updated: January - 24 - 2026
Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.