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3517 E Montecito Ave 4 Unit Apartment Building $1,295,000 ($323,750/Unit) Phoenix, AZ 85018
Investment Highlights
- Desirable Camelback East Location
- Spacious Lot with Outdoor Area Potential
- Proximity to Arcadia, Biltmore, and Downtown Phoenix
- Functional One- and Two-Bedroom Unit Mix
- Strong Rental Submarket with Continued Growth
Executive Summary
This Four-Plex is very unique for the area. It is fully secured by a block wall on all sides and has its own private fenced in pool (recentlyresurfaced with pebble tech) in the courtyard. This is very rare to find anywhere in the valley, and especially in this area. The property as one 2/2 and three1/1 bedroom units. The property has been self managed and the owner has made numerous upgrades to the interior and exterior. This is a rare opportunityto purchase a Four-Plex in the esteemed Arcadia Lite Area. Arcadia Lite is a trendy, central Phoenix neighborhood (roughly 32nd-44th St, Camelback toIndian School) known for blending mid-century charm with modern, high-end renovations.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$60,348
|
$24.83
|
| Other Income |
$432
|
$0.18
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$60,780
|
$25.01
|
| Taxes |
$2,865
|
$1.18
|
| Operating Expenses |
$15,762
|
$6.49
|
| Total Expenses |
$18,627
|
$7.67
|
| Net Operating Income |
$42,153
|
$17.35
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $60,348 |
| Annual Per SF | $24.83 |
| Other Income | |
|---|---|
| Annual | $432 |
| Annual Per SF | $0.18 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $60,780 |
| Annual Per SF | $25.01 |
| Taxes | |
|---|---|
| Annual | $2,865 |
| Annual Per SF | $1.18 |
| Operating Expenses | |
|---|---|
| Annual | $15,762 |
| Annual Per SF | $6.49 |
| Total Expenses | |
|---|---|
| Annual | $18,627 |
| Annual Per SF | $7.67 |
| Net Operating Income | |
|---|---|
| Annual | $42,153 |
| Annual Per SF | $17.35 |
Property Facts
| Price | $1,295,000 | Apartment Style | Low-Rise |
| Price Per Unit | $323,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.27 AC |
| No. Units | 4 | Building Size | 2,430 SF |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1957 |
| Zoning | R-3 - R-3 | ||
| Price | $1,295,000 |
| Price Per Unit | $323,750 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 2,430 SF |
| No. Stories | 1 |
| Year Built | 1957 |
| Zoning | R-3 - R-3 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Refrigerator
Site Amenities
- Laundry Facilities
- Pool
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | $1,900 | 822 |
| 1+1 | 3 | $1,025 | 536 |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
20/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 170-27-117 | Total Assessment | $21,214 |
| Land Assessment | $0 | Annual Taxes | $2,865 ($1.18/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
Property Taxes
Parcel Number
170-27-117
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$21,214
Annual Taxes
$2,865 ($1.18/SF)
Tax Year
2025
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3517 E Montecito Ave
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