3618 E MONTECITO Avenue Phoenix, AZ $ 1,475,000
3618 E MONTECITO Avenue
$ 1,475,000
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3618 E MONTECITO Avenue

Phoenix, AZ, 85018
$ 1,475,000
Baths0.0

Monthly Estimate*

$ 9,082

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Studio

Multi-Family Home for sale in Phoenix, AZ

for $1,475,000. This home was built in 1960.

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...

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Multi-Family Active

Price

$ 1,475,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 4,073

Style

Multiple Dwellings

Year Built

1960

Town/City

Phoenix

County/Region

Maricopa

MLS | Web ID

7003754

Features
General
Sewer Sewer-In & Connected Public Sewer
Heating Forced Air Individual Electric
Cooling Ceiling Fan(s) Electric Heat Pump Individual 2 or More Units
Roof Composition Built-Up Foam
Zoning R-3
Construction Materials Painted Block
Year Built 1960
Electric SRP Submetered System
Township 2N
Tax Year 2025
Ownership Fee Simple Fee Simple
Gross Income 70500.0
Community Features Other See Remarks No Pool
County Maricopa
Net Operating Income 54222.0
Operating Expense 16279.0
Insurance Expense 4700.0
New Construction N
Property Type Multiple Dwellings
Attached Garage N
MaintenanceExpense 0.0
Subdivision Name PASADENA MANOR
Garage Y/N N
Status Active
Directions South to Montecito Ave. East on Montecito Ave.
High School Camelback High School
City Phoenix
Disclosures None
High School District Phoenix Union High School District
Open Parking Spaces 0.0
Number Of Units Total 4
Carport Y/N N
Elementary School Biltmore Preparatory Academy
Tax Annual Amount 4073.0
Electric Expense 0.0
Fuel Expense 0.0
Middle/Junior High School Biltmore Preparatory Academy
Trash Expense 0.0
Water Sewer Expense 3256.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Standard Status Active
Occupancy Type Tenant
Elementary School District Creighton Elementary District
Tax Lot 12
Cap Rate 3.68
New Financing: Conventional True
Senior Community N
New Financing: Cash True
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Exterior
Exterior Amenities Sidewalk(s)
Parking Features Detached Carport Paved Free 1 Space/Unit Carport
Water Source Master Meter City Franchise
Total Parking 4.0
Number of Buildings 1
Spa N
Lot Dimensions 167 x 69 - irregular-rectangle parcel
Road Surface Type Asphalt
Covered Spaces 4.0
Crops Included Y/N N
Irrigation Water Rights Y/N N
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Interior
Flooring Tile
Air Conditioning Y/N Y
Heating Y/N Y
Total Baths 0
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Internal Only
Street Number 1 3618
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* Excluded Features
List By
First Road Property Advisors, Llc

Broker

dlongfellow@firstroadproperty.com

Email

Affordability Calculator

$9,421
Per Month
96%
4%
0%
Monthly Principal & Interest
$9,082
Monthly Property Taxes
$339
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4328188 Elementary School
4327484 Middle School
Camelback High School High School
Pricing History
DatePricePrice ChangeDescription
3/25/2026$1,475,000 Listed Price

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3618 E MONTECITO Avenue, Phoenix, AZ, 85018 is a Multi-Family Home for sale at $1,475,000. 3618 E MONTECITO Avenue is a studio with 0.0 baths and was built in 1960. The property's zip code is 85018 which is in Phoenix, AZ