Residential Income
For Sale
$249,000
749 E MONTEBELLO Avenue 128, Phoenix, AZ 85014
Ground-level corner residence in a gated community with covered parking and private storage.
Property Size840 SF
Price / SF$296.43
Days on Market156
Property Features for 749 E MONTEBELLO Avenue 128
General Information
Standard status
Active
Size
840 SF
Total Parking Spaces
1
Property subtype
Apartment
Site & Location
Neighborhood
Camelback East
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$600
Amenities
pool
gated
storage
Building Details
Building Size
840 SF
Year Built
1971
Listing Agency:
The Brokery
Listed By:
Janelle B Bilewitch
(480) 434-9895
Source:
Bvoluxury
Added: May 26
Changed: Oct 26
Last Checked: Oct 26 at 10:20AM
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 The Brokery
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Investment Insights
Based on property information with market context.
This ground-floor corner residence has an open-concept layout with 2 bedrooms and 2 full bathrooms, including a primary suite with an en-suite bath. A breakfast bar connects the kitchen and living area. The home was built in 1971 and includes designated covered parking and a private storage unit. The community has a pool, landscaped courtyards, and mature trees. HOA coverage includes water, sewer, gas, trash, exterior maintenance, roof replacement, and building insurance.
The property is at 749 E Montebello Avenue in Phoenix, within the Uptown area and Madison School District. Nearby amenities named in the property information include the Uptown Farmers Market, Murphy’s Bridle Path, restaurants, and grocery shopping. The residence offers a ground-level entry without interior stairs.
The property is at 749 E Montebello Avenue in Phoenix, within the Uptown area and Madison School District. Nearby amenities named in the property information include the Uptown Farmers Market, Murphy’s Bridle Path, restaurants, and grocery shopping. The residence offers a ground-level entry without interior stairs.
Key Highlights
- 2 bedrooms and 2 full bathrooms
- Ground‑floor southeast corner residence with open‑concept layout
- Built in 1971
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,797
Cap Rate
3.93%
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 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$254.4K
$222.6K – $296.9K
NOI $17,811 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,923
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 - Ground-level corner residence in a gated community with covered parking and private storage.
Where is this residential income property located?
The property is located at 749 E MONTEBELLO Avenue 128 Phoenix, AZ.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 2 bedrooms and 2 full bathrooms; Ground‑floor southeast corner residence with open‑concept layout; Built in 1971
