Updated Two-Bedroom
New
For Sale
$350,000
3637 E Monterosa St #17, Phoenix, AZ 85018
Single-level residence with refreshed finishes, stainless steel appliances, and newer cooling and water-heating equipment.
Property Size1,256 SF
Price / SF$278.66
Days on Market5
Property Features for 3637 E Monterosa St #17
General Information
Standard status
Active
Size
1,256 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Building Details
Year Built
1970
Listing Agency:
Keller Williams Legacy One Realty
(520) 560-1861
Listed By:
The Garcia Group
(480) 771-2303
Source:
Beckygarcia
Added: Oct 2
Changed: Oct 6
Last Checked: Oct 5 at 6:50PM
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 Keller Williams Legacy One Realty
Investment Insights
Based on property information with market context.
This 1,256-square-foot condominium offers two bedrooms and two bathrooms on one level. Interior finishes include wood-look porcelain tile throughout, granite countertops, stainless steel appliances, and updated bathroom vanities. The residence was built in 1970 and has a newer AC system and water heater.
The property is at 3637 E Monterosa St #17 in Phoenix. Restaurants, coffee shops, bars, parks, and a canal are nearby, with the Biltmore, Old Town Scottsdale, Uptown Phoenix, and Sky Harbor Airport described as minutes away.
The property is at 3637 E Monterosa St #17 in Phoenix. Restaurants, coffee shops, bars, parks, and a canal are nearby, with the Biltmore, Old Town Scottsdale, Uptown Phoenix, and Sky Harbor Airport described as minutes away.
Key Highlights
- 1,256‑square‑foot, single‑level condominium
- Two bedrooms and two bathrooms
- Wood‑look porcelain tile throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,649
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$292,980
$293.0K
Cap Rate 7%
$209,271
$209.3K
Cap Rate 9%
$162,767
$162.8K
Market Conditions
NOI Build-Up for 1,256 SF
Gross rent
$28.3K $22.56/SF
− Vacancy
−$1.7K −$1.35/SF
EGI
$26.6K $21.21/SF
− OpEx
−$12.0K −$9.54/SF
NOI
$14.6K $11.66/SF
Area
Phoenix, AZ
Vacancy
6.00%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$292,980
Cap Rate 7%
$209,271
Cap Rate 9%
$162,767
Alternative Uses
Best Use
Apartment 5plus
$209.3K
$183.1K – $244.2K
NOI $14,649 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$380.5K
$332.9K – $443.9K
NOI $26,632 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,034
Businesses Nearby
Explore this area
Business Placement
Demographics for 85018, AZ
37,944
Population
19,487
Households
1.9
Avg Household Size
40
Median Age
57%
College-Educated
92%
High-School Grad
15.1 sq mi
ZIP Area
2,513
Density / Sq Mi
$87,637
Median Household Income
$58,555
Median Earnings
$1,411
Median Rent
$805,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Single-level residence with refreshed finishes, stainless steel appliances, and newer cooling and water-heating equipment.
Where is this residential income property located?
The property is located at 3637 E Monterosa St #17 Phoenix, AZ.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,256‑square‑foot, single‑level condominium; Two bedrooms and two bathrooms; Wood‑look porcelain tile throughout
