Updated Two-Bedroom Residential
For Sale
$274,900
721 E MONTEBELLO Avenue 210, Phoenix, AZ 85014
A 2022 renovation refreshed the interior and introduced in-unit laundry.
Property Size900 SF
Price / SF$305.44
Days on Market89
Property Features for 721 E MONTEBELLO Avenue 210
General Information
Standard status
Active
Size
900 SF
Property subtype
Apartment
Site & Location
Neighborhood
Camelback East
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$649
Amenities
pool
community BBQ
in-unit laundry
private covered patio
Building Details
Building Size
900 SF
Year Built
1971
Year Renovated
2022
Construction
mid-century modern
Listing Agency:
Delex Realty
Listed By:
Bradley O Grannis
(602) 430-4875
Source:
Inspiredrealestatelife
Added: Aug 1
Changed: Oct 26
Last Checked: Oct 26 at 2:55PM
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 Delex Realty
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Investment Insights
Based on property information with market context.
This 900-square-foot residential unit occupies a top-floor corner position in a 1971-built Phoenix complex. The two-bedroom, two-bath layout received a full renovation in 2022, including new windows and appliances, quartz kitchen counters, and updated bathrooms. In-unit laundry and an open-plan interior add practical features, while the covered private patio faces the community pool.
Residents also have access to a community barbecue area. The property is at 721 E Montebello Avenue in Phoenix, with light rail, coffee shops, museums, and shopping described as minutes away. Cold Beers & Cheeseburgers, The Yard, Narahara, and Randy’s Donuts are also identified nearby.
Residents also have access to a community barbecue area. The property is at 721 E Montebello Avenue in Phoenix, with light rail, coffee shops, museums, and shopping described as minutes away. Cold Beers & Cheeseburgers, The Yard, Narahara, and Randy’s Donuts are also identified nearby.
Key Highlights
- 900‑square‑foot unit in a 1971‑built complex
- Two bedrooms and two bathrooms
- Top‑floor corner unit with windows on two exposures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,497
Cap Rate
3.82%
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 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$272.6K
$238.5K – $318.1K
NOI $19,083 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,125
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - A 2022 renovation refreshed the interior and introduced in-unit laundry.
Where is this residential income property located?
The property is located at 721 E MONTEBELLO Avenue 210 Phoenix, AZ.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: 900‑square‑foot unit in a 1971‑built complex; Two bedrooms and two bathrooms; Top‑floor corner unit with windows on two exposures
