Two-Bedroom Residential Income
New
For Sale
$189,000
749 E MONTEBELLO Avenue 229, Phoenix, AZ 85014
The unit includes a covered porch and HOA services for utilities and exterior upkeep.
Property Size840 SF
Days on Market4
Property Features for 749 E MONTEBELLO Avenue 229
General Information
Standard status
Active
Size
840 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$600
Amenities
community pool
Building Details
Building Size
840 SF
Year Built
1971
Listing Agency:
JM Realty
Listed By:
Joseph P Mahoney · License #BR561411000
(480) 433-5792
Source:
Alexiabertsatos
Added: Oct 3
Changed: Oct 6
Last Checked: Oct 6 at 2:22AM
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 JM Realty
Investment Insights
Based on property information with market context.
This second-level residential unit was built in 1971 and has two bedrooms, two full bathrooms, an eat-in kitchen, and a front porch. Community amenities include a pool, while HOA services cover water, sewer, gas, trash, exterior maintenance, roof replacement, and building insurance.
The property is on E Montebello Avenue in Phoenix, near Route 51, Downtown Phoenix, Biltmore, and area shopping, dining, and entertainment.
The property is on E Montebello Avenue in Phoenix, near Route 51, Downtown Phoenix, Biltmore, and area shopping, dining, and entertainment.
Key Highlights
- Two bedrooms and two full bathrooms
- Second‑level unit with a front porch and eat‑in kitchen
- Built in 1971
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,797
Cap Rate
5.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$195,940
$195.9K
Cap Rate 7%
$139,957
$140.0K
Cap Rate 9%
$108,856
$108.9K
Market Conditions
NOI Build-Up for 840 SF
Gross rent
$19.0K $22.56/SF
− Vacancy
−$1.1K −$1.35/SF
EGI
$17.8K $21.21/SF
− OpEx
−$8.0K −$9.54/SF
NOI
$9.8K $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%
$195,940
Cap Rate 7%
$139,957
Cap Rate 9%
$108,856
Alternative Uses
Best Use
Apartment 5plus
$140.0K
$122.5K – $163.3K
NOI $9,797 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$254.4K
$222.6K – $296.9K
NOI $17,811 @ 7.0% cap · market cap 9.42%
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
1,923
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
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Frequently Asked Questions
What type of property is this?
Residential income property - The unit includes a covered porch and HOA services for utilities and exterior upkeep.
Where is this residential income property located?
The property is located at 749 E MONTEBELLO Avenue 229 Phoenix, AZ.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Two bedrooms and two full bathrooms; Second‑level unit with a front porch and eat‑in kitchen; Built in 1971
