3623 E MONTECITO Avenue, Phoenix, AZ 85018
$850,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$850,000
List Date:
4/18/2023
Last Modified:
2/13/2026
Description
Rare opportunity in the coveted Arcadia neighborhood and offered for the first time in over a decade, this value add mid-century modern Duplex is a rare find. With 3 bedrooms and 2 bathrooms in one unit and 2 bedrooms and 2 bathrooms in the other, this property offers plenty of space for comfortable living. The entrance from the well-maintained alley off 36th St leads to two covered parking spaces for added convenience. Each unit has a side entrance and sliding glass doors that lead to your own private backyard with lush green grass, perfect for enjoying some downtime in the fresh air. With separate water heaters and meters, as well as their own laundry rooms. Ideal for investors looking to reap high returns or new homeowners seeking a great house hack option.
Supplements: The 2 bed/ 2 bath unit is getting ready to be rented out, while the 3 bed/ 2 bath has been left vacant to allow for the new owner to do with it as they wish.
More Information MLS# 6544722
Contract Info
Ownership: Fee Simple
Current Price: $850,000
Sold Price: $850,000
Status: Closed
List Date: 2023-04-01
Location, Tax & Legal
Assessor's Map #: 26
Legal Description (Abbrev): PASADENA MANOR LOT 3 EX W 66.5'
Assessor's Parcel #: 30
Assessor Parcel Ltr: B
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 108302
Taxes: 2574
Legal: PASADENA MANOR LOT 3 EX W 66.5'
Marketing Name: Pasadena Manor
Map Code/Grid: P35
House Number: 3623
Compass: E
Street Name: MONTECITO
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Zip4: 4050
County Code: Maricopa
Subdivision: PASADENA MANOR
Assessor Number: 170-26-030-B
Tax Year: 2022
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 111 x 93
Total # of Units: 2
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Year Built: 1962
Zoning: M-M MULTI-FAMIL
Legal Info
Range: 3E
Section: 24
Township: 2N
Lot Number: 3
Project Type
Duplex: 1
Construction
Wood Frame: 1
Steel Frame: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Other: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Ins Exp: 2631.2
Annual Maint Exp: 2968.83
Annual Wtr/Swr Exp: 1412.16
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 9586.19
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 43200
Pmt & Rate Info
Cap Rate: 3.95
Equity: 850000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Lockbox Type
Supra: 1
Community Features
No Pool: 1
Heating
Natural Gas: 1
Cooling
Electric: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Unknown: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Other: 1
New Financing
VA: 1
Conventional: 1
FHA: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1700
Avg SqFt: 1531
# Baths: 2
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 1900
Avg SqFt: 1531
# Baths: 2
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
Remarks Misc
Cross Street: 36th & 38th / E Montecito Ave
Directions: Travel down either 36th or 38th turn on E Montecito Ave
Geo Lat: 33.499032
Geo Lon: -112.002971
Status Change Info
Off Market Date: 2023-05-02
Under Contract Date: 2023-04-18
Close of Escrow Date: 2023-05-26
Sold Price: $850,000
Income Expenses
Gross Annual Sch Inc: 43200
Net Operating Income: 33613.82
Property Features
Project Type: Duplex
Construction: Wood Frame; Steel Frame
Const - Finish: Painted
Roofing: Composition
Floors: Vinyl; Other
Sale Includes: Land & Building
Community Features: No Pool
Appliances Included: Free-Standing Range; Dishwasher
Heating: Natural Gas
Cooling: Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: Carport
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Other
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Unknown
Lockbox Type: Supra
New Financing: VA; FHA; Conventional
Environmental: None
Listing Office:
The Brokery
Last Updated: February - 13 - 2026
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