$1,000,000
Phoenix, AZ 85016
MLS# 6987955
1 / 26
Property Description
Rare turn-key mid-century modern triplex in the heart of the Biltmore corridor within a lush desert landscape setting. Gated, walled courtyard creates sanctuary for this compound featuring two 2-bed/2-bath units and one spacious 1-bed/1-bath unit with delightful wood flooring. Unit 1 features a private large patio Enclosed 3-car garage with assigned spaces and private storage, plus shared on-site laundry. Owner pays water/sewer; tenants pay electric. Recent capital improvements and transferable termite warranty. Proximity to Sprouts, Starbucks, dining and breweries. Boutique multifamily asset in one of Phoenix's strongest rental corridors with long-term appreciation appeal.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $1,000,000
List Price: $1,000,000
Status: Active
List Date: 2026-02-21
Location, Tax & Legal
Assessor's Map #: 8
Legal Description (Abbrev): LOT 5 BROWN TERRACE MCR
Assessor's Parcel #: 70
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 108400
Taxes: 2389
Legal: LOT 5 BROWN TERRACE MCR 007447
Marketing Name: Nest on Montecito
House Number: 2727
Compass: E
Street Name: MONTECITO
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85016
Zip4: 0908
County Code: Maricopa
Subdivision: BROWN TERRACE
Assessor Number: 163-08-070
Tax Year: 2025
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 8476
Flood Zone: No
Total # of Units: 3
Elementary School District: Madison Elementary District
High School District: Phoenix Union High School District
Elementary School: Madison Camelview Elementary
Jr. High School: Madison Park School
High School: Camelback High School
Year Built: 1959
Zoning: multi
Legal Info
Range: 3E
Section: 23
Township: 2N
Lot Number: 5
Project Type
Tri-Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Wood: 1
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Laundry Equipment: 1
Income & Expenses
Annual Ins Exp: 2747
Annual Landscape Exp: 2295
Annual Maint Exp: 719
Annual Wtr/Swr Exp: 3364
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Other Expense: 3247
Operating Exp: 14761
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 54600
Pmt & Rate Info
Cap Rate: 3.98
Down Payment: 0
Equity: 1000000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Lockbox Type
None: 1
Community Features
No Pool: 1
Barbecue: 1
Heating
Electric: 1
Individual: 1
2 or More Units: 1
Cooling
Electric: 1
Individual: 1
2 or More Units: 1
Exterior Amenities
Landscape Water System: 1
Desert Landscaping: 1
Fenced: 1
Cable TV Available: 1
Patio/Balcony: 1
Separate Storage: 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Built-In Range: 1
Washer/Dryer: 1
Road Access Type
Alley: 1
City Street: 1
Road Surface Type
Asphalt: 1
Concrete: 1
Source of Fincl Data
Owner: 1
Road Responsibility
City Maintained Road: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Garage: 1
1 Space/Unit: 1
Electric
SRP: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Cash: 1
Conventional: 1
No Carry: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 1125
Avg SqFt: 750
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1732
Avg SqFt: 1000
# Baths: 2
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: E Indian School Road & N 28th Street
Directions: Head north on N 28th Street (0.3 mi). Head west onto E Montecito Avenue (240 ft). Property is on south side of street.
Geo Lat: 33.499316
Geo Lon: -112.022354
Income Expenses
Gross Annual Sch Inc: 54600
Net Operating Income: 39838
Property Features
Project Type: Tri-Plex
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Vinyl; Wood; Ceramic Tile
Sale Includes: Land & Building; Laundry Equipment
Community Features: No Pool; Barbecue
Exterior Amenities: Landscape Water System; Desert Landscaping; Fenced; Cable TV Available; Patio/Balcony; Separate Storage
Interior Features: Unfurnished; Fire/Smoke Alarm(s)
Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer
Heating: Individual; 2 or More Units
Cooling: Electric; Individual; 2 or More Units
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: None
Parking Features: Garage; 1 Space/Unit
Road Access Type: Alley; City Street
Road Surface Type: Asphalt; Concrete
Road Responsibility: City Maintained Road
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 3rd Loan: Treat as Free&Clear
New Financing: Cash; Conventional; No Carry
Environmental: None
Listing Office: Cambridge Properties
Last Updated: February - 21 - 2026
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