Turnkey Three-Unit Short-Term
1515 W Tonto Street Phoenix, AZ 85007
New
For Sale
$619,900
Fully renovated and furnished three-unit property with independent entrances, kitchens, and full baths for short-term guests.
Days on Market3
Property Features for 1515 W Tonto Street
General Information
Standard status
Active
Property subtype
Business Opportunity
Listing Agency:
My Home Group Real Estate
(858) 729-4377
Listed By:
Natalia Yalin · License #SA695323000
(858) 729-4377
Source:
Sunhaven-realestate
Added: Jul 27
Changed: Jul 28
Last Checked: Jul 28 at 11:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of My Home Group Real Estate
Investment Insights
Based on property information with market context.
This fully renovated, fully furnished three-unit short-term rental is set up for independent guest stays under one roof. The property includes one 2-bedroom/1-bath unit, one 1-bedroom/1-bath unit, and a private studio, and each unit has its own kitchen, full bath, and separate entrance. A separate laundry room and an on-site storage shed support ongoing operations. Outside, a fenced common courtyard includes 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.
For performance, the asset reported $119,442 in gross revenue in 2024 and $103,198 in 2025, with a two-year average revenue of approximately $111,320. Operating income was $62,272 in 2024 and $53,719 in 2025, for a two-year average NOI of roughly $57,996, and the property is noted as having an Airbnb rating of 4.8+ stars.
Located in Downtown Phoenix, the property is described as minutes from Chase Field, the Convention Center, ASU Downtown, Roosevelt Row, and Van Buren.
For performance, the asset reported $119,442 in gross revenue in 2024 and $103,198 in 2025, with a two-year average revenue of approximately $111,320. Operating income was $62,272 in 2024 and $53,719 in 2025, for a two-year average NOI of roughly $57,996, and the property is noted as having an Airbnb rating of 4.8+ stars.
Key Highlights
- Turnkey 3‑unit short‑term rental in Downtown Phoenix, fully renovated and fully furnished
- Strong 2024/2025 performance: $119,442 gross revenue (2024) and $103,198 (2025), with two‑year average revenue of ~$111,320
- Two‑year average NOI of roughly $57,996, with operating income of $62,272 (2024) and $53,719 (2025)
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 authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Short term rental property - Fully renovated and furnished three-unit property with independent entrances, kitchens, and full baths for short-term guests.
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: Turnkey 3‑unit short‑term rental in Downtown Phoenix, fully renovated and fully furnished; Strong 2024/2025 performance: $119,442 gross revenue (2024) and $103,198 (2025), with two‑year average revenue of ~$111,320; Two‑year average NOI of roughly $57,996, with operating income of $62,272 (2024) and $53,719 (2025)
