5640 S Montezuma St Phoenix, AZ 85041
South Mountain NeighborhoodEstimated payment $11,675/month
Highlights
- Cooling Available
- Vinyl Flooring
- Individual Controls for Heating
- Phoenix Coding Academy Rated A
About This Home
Montezuma is a 12-unit apartment community in Phoenix, offering two-bedroom / one-bathroom units. Built in 1963 and renovated in 2024, it still holds value-add potential for further upgrades. A total of (7) units have in-unit washer / dryer. Out of those units (5) have been fully renovated.A major advantage is the assumable sub $1.2M Freddie Mac loan at 3.31%, ensuring strong cash flow and stability in a high-interest rate environment.Just 10 minutes from Sky Harbor Airport, the property benefits from high tenant demand, job growth, and excellent connectivity. With stable income and growth potential, Montezuma is a prime investment in Phoenix's booming rental market.All units are occupied. We cannot allow tours to the interior of any unit
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,662
Year Built
- Built in 1964
Home Design
- Composition Roof
- Block Exterior
Parking
- 21 Open Parking Spaces
- 21 Parking Spaces
Utilities
- Cooling Available
- Individual Controls for Heating
Additional Features
- Vinyl Flooring
- Additional Parcels
Listing and Financial Details
- Assessor Parcel Number 113-39-015-C
Community Details
Overview
- 3 Buildings
- 12 Units
- Building Dimensions are 37,462
Building Details
- Operating Expense $2,662
- Gross Income $178,660
- Net Operating Income $113,887
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $973 | $6,628 | -- | -- |
| 2024 | $946 | $6,312 | -- | -- |
| 2023 | $946 | $35,420 | $7,080 | $28,340 |
| 2022 | $927 | $24,770 | $4,950 | $19,820 |
| 2021 | $946 | $20,770 | $4,150 | $16,620 |
| 2020 | $934 | $17,760 | $3,550 | $14,210 |
| 2019 | $904 | $16,030 | $3,200 | $12,830 |
| 2018 | $880 | $11,680 | $2,330 | $9,350 |
| 2017 | $838 | $10,830 | $2,160 | $8,670 |
| 2016 | $797 | $9,450 | $1,890 | $7,560 |
| 2015 | $751 | $7,600 | $1,520 | $6,080 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/11/2025 03/11/25 | For Sale | $2,050,000 | +261.8% | -- |
| 12/21/2021 12/21/21 | Sold | $566,666 | -5.6% | $215 / Sq Ft |
| 10/19/2021 10/19/21 | Price Changed | $600,000 | -6.3% | $228 / Sq Ft |
| 10/12/2021 10/12/21 | For Sale | $640,000 | +433.3% | $243 / Sq Ft |
| 06/14/2012 06/14/12 | Sold | $120,000 | -11.1% | $195 / Sq Ft |
| 04/16/2012 04/16/12 | Pending | -- | -- | -- |
| 01/27/2012 01/27/12 | For Sale | $135,000 | -- | $220 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Special Warranty Deed | $1,700,000 | First American Title Ins Co | |
| Quit Claim Deed | -- | None Available | |
| Warranty Deed | $178,000 | Old Republic Title Agency | |
| Special Warranty Deed | $506,500 | Fidelity Natl Title Agency | |
| Special Warranty Deed | -- | None Available | |
| Interfamily Deed Transfer | -- | Chicago Title | |
| Warranty Deed | $120,000 | Chicago Title | |
| Cash Sale Deed | $192,000 | Empire West Title Agency | |
| Quit Claim Deed | -- | Great American Title Agency | |
| Interfamily Deed Transfer | -- | Great American Title Agency | |
| Special Warranty Deed | $45,000 | Lsi Title Agency Inc | |
| Trustee Deed | $122,320 | None Available | |
| Warranty Deed | $235,000 | Capital Title Agency Inc |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $1,181,000 | New Conventional | |
| Previous Owner | $124,600 | New Conventional | |
| Previous Owner | $90,000 | New Conventional | |
| Previous Owner | $25,000 | Purchase Money Mortgage | |
| Previous Owner | $188,000 | Purchase Money Mortgage | |
| Closed | $47,000 | No Value Available |
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6835710
APN: 113-39-015C
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393
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