Turnkey Renovated
1515 W TONTO Street Phoenix, AZ 85007
For Sale
$619,900
COMMERCIAL - Phoenix, AZ
Property Size1,485 SF
Lot Size0.15 Acres
Price / SF$417.44
Days on Market156
Property Features for 1515 W TONTO Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- APN
- 112-14-112
- Size
- 1,485 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Description
- STEVE RAYBURN SUB
Utilities
- Sewer type
- Public Sewer
- Heating system
- Other (Heating), Electric (Heating)
- Cooling system
- Wall Unit(s), Wall/Window Unit(s), Electric
Building Details
- Building materials
- Stucco
Listing Agency:
My Home Group Real Estate
(602) 399-2748
Listed By:
Natalia Yalin · License #SA695323000
(858) 729-4377
Added: Feb 19
Changed: Jul 13
Last Checked: Jul 25 at 6:06AM
MLS# 6987208
Copyright © 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This turnkey triplex is fully renovated and fully furnished, configured as three independent short-term rental units: one 2-bedroom/1-bath, one 1-bedroom/1-bath, and a private studio. Each unit includes its own kitchen, full bath, and separate entrance, creating three separate income streams under one roof. The property also includes a separate laundry room and a storage shed to support day-to-day operations. Outdoors, a fenced common courtyard features a grill, fire pit, lounge seating, and hammock.
Located in Downtown Phoenix, the property is described as minutes from Chase Field, the Convention Center, ASU Downtown, Roosevelt Row, and Van Buren.
The listing reports documented performance for 2024 and 2025, including $119,442 gross revenue in 2024 and $103,198 in 2025, with operating income of $62,272 in 2024 and $53,719 in 2025. A two-year average NOI of roughly $57,996 is also provided, reflecting strong operating margins cited in the remarks.
Located in Downtown Phoenix, the property is described as minutes from Chase Field, the Convention Center, ASU Downtown, Roosevelt Row, and Van Buren.
The listing reports documented performance for 2024 and 2025, including $119,442 gross revenue in 2024 and $103,198 in 2025, with operating income of $62,272 in 2024 and $53,719 in 2025. A two-year average NOI of roughly $57,996 is also provided, reflecting strong operating margins cited in the remarks.
Key Highlights
- Fully renovated, fully furnished 3‑unit short‑term rental in Downtown Phoenix with three independent units under one roof
- Unit mix: one 2 bed/1 bath, one 1 bed/1 bath, and one private studio—each with its own kitchen, full bath, and separate entrance
- 2024 performance: $119,442 gross revenue and $62,272 operating income; 2025 performance: $103,198 gross revenue and $53,719 operating income
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.4k | $19.80 |
| − Vacancy | −$1.6k | −$1.09 |
| EGI | $27.8k | $18.71 |
| − OpEx | −$8.3k | −$5.61 |
| NOI | $19.5k | $13.10 |
1,485 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$277.9K
$243.1K – $324.2K
NOI $19,450 @ 7.0% cap · market cap 3.14%
Second Best
Apartment 5plus
$247.4K
$216.5K – $288.7K
NOI $17,320 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$449.8K
$393.6K – $524.8K
NOI $31,487 @ 7.0% cap · market cap 5.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Short term rental ...
FAQs
What type of property is this?
Short term rental property - Fully furnished three-unit triplex with separate entrances and in-unit kitchens, each supported by a full bath.
Where is this short term rental property located?
The property is located at 1515 W TONTO Street Phoenix, AZ.
What is the asking price?
The asking price for this property is $619,900.
What are key features of this property?
This property features: Fully renovated, fully furnished 3‑unit short‑term rental in Downtown Phoenix with three independent units under one roof; Unit mix: one 2 bed/1 bath, one 1 bed/1 bath, and one private studio—each with its own kitchen, full bath, and separate entrance; 2024 performance: $119,442 gross revenue and $62,272 operating income; 2025 performance: $103,198 gross revenue and $53,719 operating income
