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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$619,000

Est. payment - /mo

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Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Subdivision Steve Rayburn Subdivision

MLS Listing ID 7087258

Maintenance Fees $12,755

Year Built 1943

Annual Tax Amount $1,030

Tax Year 2026

Lot Dimensions 50x128

Source Arizona Regional Multiple Listing Service (ARMLS)

Property Description

Fully renovated and fully furnished, this turnkey 3-unit short-term rental in Downtown Phoenix offers strong, documented cash flow and an impressive 4.8+ star Airbnb rating. The asset generated $119,442 in gross revenue in 2024 and $103,198 in 2025, with a two-year average revenue of approximately $111,320, producing operating income of $62,272 in 2024 and $53,719 in 2025, for a two-year average NOI of roughly $57,996--reflecting strong operating margins of about 52%. This is a stabilized, high-margin hospitality investment ideal for investors seeking immediate cash flow, experienced short-term rental operators expanding their portfolio, or buyers looking for a prime-location income property in one of Arizona's fastest-growing urban markets. The property located in a high-demand area of Downtown Phoenix, minutes to Chase Field, the Convention Center, ASU Downtown, Roosevelt Row, Van Buren.
The property features one 2-bed/1-bath unit, one 1-bed/1-bath unit, and a private studio--each with its own kitchen, full bath, and separate entrance - providing three independent income streams under one roof.
A separate laundry room and storage shed support efficient operations for guests and cleaning staff, while the fenced common courtyard with grill, fire pit, lounge seating, and hammock enhances guest experience and occupancy appeal.

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, Varies by Unit

Flooring Tile

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

Ownership Fee Simple

Acceptable Financing VA Loan, Cash to Loan, Cash, No Carry, Conventional, 1031 Exchange, FHA

Disclosures None

Listing Terms VA Loan, Cash to Loan, Cash, No Carry, Conventional, 1031 Exchange, FHA

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Listed by My Home Group Real Estate • Natalia Yalin

NEARBY SCHOOL & BUSINESS

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1515 W TONTO Street Phoenix, AZ 85007