1605 E MONTEBELLO Avenue, Phoenix, AZ 85016
$2,500,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$2,500,000
Last Modified:
1/24/2026
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.
More Information MLS# 6973902
Contract Info
Current Price: $2,500,000
List Price: $2,500,000
Status: Active
List Date: 2026-01-23
Ownership: Fee Simple
Location Tax Legal
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
Lot Size Dimensions: 137' x 140'
Year Built: 1961
Total # of Units: 9
# of Buildings: 3
Zoning: RES
Flood Zone: No
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
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
Legal Info
Township: 2N
Range: 3E
Section: 15
Lot Number: 164-51-057-A
Income Expenses
Gross Annual Sch Inc: 180000
Showing Notification Methods
Showing Service: Aligned Showings
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
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
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