Updated End-Unit Short-Term Rental
For Sale
$320,000
721 E MONTEBELLO Avenue 225, Phoenix, AZ 85014
Updated kitchen and bathrooms pair with in-unit laundry for everyday convenience.
Property Size900 SF
Days on Market281
Property Features for 721 E MONTEBELLO Avenue 225
General Information
Standard status
Active
Size
900 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$649
Amenities
in-unit laundry
Building Details
Building Size
900 SF
Year Built
1971
Listing Agency:
Realty ONE Group
Listed By:
Jacquelyn Prom
(949) 274-2884
Source:
Jcluxuryresidential
Added: Jan 2
Changed: Sep 26
Last Checked: Oct 10 at 12:08AM
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 Realty ONE Group
Investment Insights
Based on property information with market context.
This end-unit condominium offers an updated interior with refreshed kitchen and bathroom finishes, along with in-unit laundry. Its position within the community brings added privacy and natural light. Built in 1971, the residence is currently operated as an Airbnb and is frequently rented, providing an established short-term rental use for an investor or a potential owner-occupant.
Key Highlights
- End‑unit condo with added privacy and natural light
- Updated kitchen and bathrooms
- In‑unit laundry included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,497
Cap Rate
3.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$209,940
$209.9K
Cap Rate 7%
$149,957
$150.0K
Cap Rate 9%
$116,633
$116.6K
Market Conditions
NOI Build-Up for 900 SF
Gross rent
$20.3K $22.56/SF
− Vacancy
−$1.2K −$1.35/SF
EGI
$19.1K $21.21/SF
− OpEx
−$8.6K −$9.54/SF
NOI
$10.5K $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%
$209,940
Cap Rate 7%
$149,957
Cap Rate 9%
$116,633
Alternative Uses
Best Use
Apartment 5plus
$150.0K
$131.2K – $175.0K
NOI $10,497 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$272.6K
$238.5K – $318.1K
NOI $19,083 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,125
Businesses Nearby
Explore this area
Business Placement
Demographics for 85014, AZ
26,381
Population
14,778
Households
1.8
Avg Household Size
37
Median Age
43%
College-Educated
90%
High-School Grad
4.0 sq mi
ZIP Area
6,595
Density / Sq Mi
$69,995
Median Household Income
$48,465
Median Earnings
$1,339
Median Rent
$447,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Short term rental property - Updated kitchen and bathrooms pair with in-unit laundry for everyday convenience.
Where is this short term rental property located?
The property is located at 721 E MONTEBELLO Avenue 225 Phoenix, AZ.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: End‑unit condo with added privacy and natural light; Updated kitchen and bathrooms; In‑unit laundry included
