Properties
Phoenix, AZ 85018 3618 E MONTECITO Avenue
$1,475,000
44 more
Presented By: First Road Property Advisors, LLC; 602-478-4188
Home Details
Fabulous 4-Unit apartment community located in high-demand location- Arcadia/Biltmore Neighborhood. Stable investment, no major reconstruction or lease-up needed. All units occupied & updates include all-tile flooring, dual-pane windows/doors, updated cabinets/granite counters in kitchen & baths, skylights, SS appliances, ceiling fans and much more. Each unit is a 2 Br/1.5 Ba (Jack & Jill) over 900 sf, private-fenced patio, one-reserved carport w/storage shed. Four units total 3,638 sf, plus separate workshop/storage shed of 306 sf. Community Laundry Room w/owned units - free to tenants. Well maintained by long-term owner: New Roof 2020; Sewer-line replaced 2019; New electric panel 2024. Short walk/drive to LGO & many restaurants/shopping, Fwys., airport, Scottsdale, Downtown Phx...
Presented By: First Road Property Advisors, LLC; 602-478-4188
Interior Features for 3618 E MONTECITO Avenue
Bathrooms
Total Baths
Other Interior Features
Air Conditioning Y/NYes
FlooringTile
Heating Y/NYes
General for 3618 E MONTECITO Avenue
Additional Parcels Y/NNo
Attached Garage No
Cap Rate3.68
Carport Y/NNo
CityPhoenix
Community FeaturesOther, See Remarks, No Pool
Construction MaterialsPainted, Block
CoolingCeiling Fan(s), Electric, Heat Pump, Individual, 2 or More Units
CountyMaricopa
DirectionsSouth to Montecito Ave. East on Montecito Ave.
DisclosuresNone
ElectricSRP, Submetered System
Electric Expense0.0
Elementary SchoolBiltmore Preparatory Academy
Elementary School DistrictCreighton Elementary District
Fuel Expense0.0
Garage Y/NNo
Gross Income70500.0
HeatingForced Air, Individual, Electric
High SchoolCamelback High School
High School DistrictPhoenix Union High School District
Insurance Expense4700.0
Lease Considered Y/NNo
Lease Renewal Y/NNo
MaintenanceExpense0.0
Middle/Junior High SchoolBiltmore Preparatory Academy
MobileHomeRemainsYNNo
Net Operating Income54222.0
New ConstructionNo
New Financing: CashTrue
New Financing: ConventionalTrue
Number Of Units Total4
Occupancy TypeTenant
Open Parking Spaces0.0
Operating Expense16279.0
OwnerPaysTrash Collection, Water, Sewer, Landscaping
OwnershipFee Simple
OwnershipFee Simple
Property TypeMultiple Dwellings
Rent Control Y/NNo
RoofComposition, Built-Up, Foam
Senior CommunityN
SewerSewer-In & Connected, Public Sewer
Standard StatusActive
StatusActive
Subdivision NamePASADENA MANOR
Tax Annual Amount4073.0
Tax Lot12
Tax Year2025
Township2N
Trash Expense0.0
Water Sewer Expense3256.0
Year Built1960
ZoningR-3
Exterior for 3618 E MONTECITO Avenue
Covered Spaces4.0
Crops Included Y/NNo
Exterior AmenitiesSidewalk(s)
Irrigation Water Rights Y/NNo
Lot Dimensions167 x 69 - irregular-rectangle parcel
Number of Buildings1
Parking FeaturesDetached Carport, Paved, Free, 1 Space/Unit, Carport
Road Surface TypeAsphalt
SpaNo
Total Parking4.0
Water SourceMaster Meter, City Franchise
Additional Details
Price History
Schools
Middle School
Biltmore Preparatory Academy Middle School
High School
Camelback High School
Elementary School
Biltmore Preparatory Academy Elementary School
