$1,350,000
Phoenix, AZ 85018
MLS# 7012867
1 / 9
Property Description
This Four-Plex is very unique for the area. It is fully secured by a block wall on all sides and has its own private fenced in pool (recently resurfaced with pebble tech) in the courtyard. This is very rare to find anywhere in the valley, and especially in this area. The property as one 2/2 and three 1/1 bedroom units. The property has been self managed and the owner has made numerous upgrades to the interior and exterior. This is a rare opportunity to purchase a Four-Plex in the esteemed Arcadia Lite Area. Arcadia Lite is a trendy, central Phoenix neighborhood (roughly 32nd-44th St, Camelback to Indian School) known for blending mid-century charm with modern, high-end renovations.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $1,350,000
List Price: $1,350,000
Status: Active
List Date: 2026-03-12
Location, Tax & Legal
Assessor's Map #: 27
Assessor's Parcel #: 117
Add'l Parcels: No
Tax Municipality: Phoenix
Taxes: 2865
Legal: LOT 6 DARLEIGH MANOR MCR
Marketing Name: Montecito Four-Plex
House Number: 3517
Compass: E
Street Name: Montecito
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Country: US
County Code: Maricopa
Assessor Number: 170-27-117
Tax Year: 2025
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 0
Lot Size Dimensions: UNK
Total # of Units: 4
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Year Built: 1957
Zoning: R-3
Project Type
Four Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 2433
Annual Gas Exp: 0
Annual Ins Exp: 4405
Annual Landscape Exp: 1800
Annual Maint Exp: 753
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 4931
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Other Expense: 1440
Operating Exp: 18627
Other Income: 432
Vacancy Allowance: 0
Adjusted Gross Inc: 60348
Pmt & Rate Info
Cap Rate: 3.19
Equity: 1295000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Lockbox Type
None: 1
Community Features
Pool: 1
Other: 1
Heating
Electric: 1
Cooling
Electric: 1
Exterior Amenities
Green Landscaping: 1
Desert Landscaping: 1
Tenant Pays
Electricity: 1
Appliances Included
Built-In Electric Oven: 1
Refrigerator: 1
Other: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
On Street: 1
>1 Space Per Unit: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Cash: 1
VA: 1
Conventional: 1
FHA: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Contact Info
List Agent Home Phn: 602-703-5277
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 3
Avg Rent: 1025
Avg SqFt: 536
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1900
Avg SqFt: 822
# Baths: 2
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: E Glenrosa and Montecito East of 36th Street
Directions: From 36th Street, head East on Montecito. Property on South Side of Street
Geo Lat: 33.499522
Geo Lon: -112.005917
Legal Info
Lot Number: 6
Income Expenses
Gross Annual Sch Inc: 59916
Net Operating Income: 41251
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Vinyl
Sale Includes: Land & Building
Community Features: Pool; Other
Exterior Amenities: Green Landscaping; Desert Landscaping
Appliances Included: Built-In Electric Oven; Refrigerator; Other
Cooling: Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: On Street; >1 Space Per Unit
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity
Source of Fincl Data: Owner
Lockbox Type: None
New Financing: Cash; VA; FHA; Conventional
Environmental: None
Listing Office: Coldwell Banker Commercial Realty
Last Updated: April - 29 - 2026
Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.
You must be logged in to post a comment.