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Alexander Karamargin

alexander.karamargin@engelvoelkers.com +1(520) 551-4112

$ 649,000

Est. payment -/mo

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Price Dropped by $26K

1515 W TONTO Street Phoenix, AZ 85007

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Subdivision Steve Rayburn Subdivision

MLS Listing ID 6953631

Maintenance Fees $6,000

Year Built 1943

Annual Tax Amount $983

Tax Year 2025

Lot Dimensions 50x128

Source Arizona Regional Multiple Listing Service (ARMLS)

Property Description

Fully RENOVATED 3-UNIT Turnkey Short-Term Rental in Central Phoenix! Cap rate 10%+, average occupancy 75%, and strong Airbnb rating of 4.8+ stars! Comes with confirmed future bookings totaling over $5,000 through Mar 1, 2026 and the established hosting accounts on main short term rentals platforms!!! Property consists of one 2-bed/1-bath unit, one 1 bed/1 bath unit and private studio — each with its own kitchen, full bath, and separate entrance. The separate laundry room & shed serves gusts and maids. A fenced common courtyard offers a grill, fire pit, and lounge area with hammock — perfect for guest enjoyment. Separate maintenance/storage shed for cleaning crew and supplies. Every unit comes with furniture and decor! The property located in a high-demand area of Downtown Phoenix, minutes to Chase Field, the Convention Center, ASU Downtown, Roosevelt Row, Van Buren.

Location

State AZ

County Maricopa

Community Steve Rayburn Subdivision

Area Maricopa

Zoning R-3

Direction North on 15th Ave from Buckeye Rd, West on Tonto to home on the south.

Interior

Heating Window/Wall Unit(s), Electric

Cooling Ceiling Fan(s), Window/Wall Unit, Electric, Individual

Flooring Flooring

Appliance Dishwasher, Refrigerator, Free-Standing Gas Oven, Built-In Gas Oven, Microwave, Washer/Dryer

Exterior

Parking Features Carport

Community Features No Pool

Roof Type Composition

Private Pool No

Building

Sewer Public Sewer

Water City Franchise

New Construction No

Schools

Elementary Schools Paul Dunbar Lawrence School

Middle Schools Paul Dunbar Lawrence School

High Schools Carl Hayden High School

School District Phoenix Union High School District

Others

Senior Community No

Tax ID 112-14-112

Acceptable Financing No Carry, CTL, Conventional, 1031 Exchange, FHA, VA Loan

Disclosures None

Listing Terms No Carry, CTL, Conventional, 1031 Exchange, FHA, VA Loan

Listed by eXp Realty

Alexander Karamargin

Advisor | License ID: SA705004000

+1(520) 551-4112

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