1605 E MONTEBELLO Avenue, Phoenix, AZ 85016 (MLS# 6973902)

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

Overview

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.

Listing Details MLS# 6973902

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
Country: US
County Code: Maricopa
Assessor Number: 164-51-057-A
Tax Year: 2025
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

Contract Info

Ownership: Fee Simple

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
Uncvrd Parking Spcs: 0

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.

Legal Info

Township: 2N
Range: 3E
Section: 15
Lot Number: 164-51-057-A

Income Expenses

Gross Annual Sch Inc: 180000

More Information

Showing Notification Methods

Showing Service: Aligned Showings
Text: Yes
Email: Yes
Phone Call: Yes

Efficiency Units

# Efficiency Units: 2
Avg Rent: 1800
Avg SqFt: 750
# Baths: Yes

1 Bedroom Units

# 1 Bedroom Units: 2
Avg Rent: 1800
Avg SqFt: 750
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 2
Avg Rent: 1800
Avg SqFt: 750
# Baths: Yes

3 Bedrooms Units

# 3 Bedroom Units: 2
Avg Rent: 1800
Avg SqFt: 750
# Baths: Yes

4 Bedrooms Units

# 4 Bedroom Units: 2
Avg Rent: 1200
Avg SqFt: 750
# Baths: Yes

Project Type

5 - 12 Units: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Composition: Yes

Floors

Laminate: Yes

Sale Includes

Land & Building: Yes

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

Lockbox Type

See Private Remarks: Yes

Community Features

No Pool: Yes

Heating

Hot Water: Yes

Cooling

Ceiling Fan(s): Yes

Exterior Amenities

Desert Landscaping: Yes
Partially Fenced: Yes
Patio/Balcony: Yes

Tenant Pays

Electricity: Yes

Appliances Included

Dishwasher: Yes
Microwave: Yes
Refrigerator: Yes
Built-In Range: Yes
Washer/Dryer: Yes

Road Access Type

City Street: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Road Responsibility

City Maintained Road: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Detached Carport: Yes
1 Space/Unit: Yes

Electric

SRP: Yes

Gas

SW Gas: Yes

Owner Pays

Other: Yes

New Financing

Cash: Yes
Conventional: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Not Applicable: Yes

Existing 1st Loan Terms

Not Applicable: Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

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