Seller's Agent in 2024
Brad Skenderian
Matthews Real Estate Investment Services
(949) 533-5594
2 in this area
14 Total Sales
720 E Montecito Ave Phoenix, AZ 85014
Central City Neighborhood
--
Bed
--
Bath
2,050
Sq Ft
9,104
Sq Ft Lot
Highlights
- Cooling Available
- Vinyl Flooring
- Individual Controls for Heating
- Phoenix Coding Academy Rated A
About This Home
As of December 2024Montecito is a 4-unit apartment community located in the Midtown Phoenix Submarket. Built in 1955, the asset has been extensively renovated over the past few years and features (3) 2+1 units and (1) 1+1 unit . Current ownership has successfully run short-term rentals on 3 of the 4 units through Air BnB. New ownership will have the opportunity to take over the 3 units furnished and continue the current operation or run as a traditional apartment building. Significant capital is being invested in the immediate area with the addition of Fate Brewery and several new townhome developments around the corner. The property also sits in close proximity to Carl T Hayden VA Hospital, Brophy & Xavier Prep Schools, and provides easy access to Midtown & Downtown Phoenix.
CONTACT AGENT FOR COPY OF OM
Last Agent to Sell the Property
Matthews Real Estate Investment Services License #SA692958000 Listed on: 06/04/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,798
Year Built
- Built in 1955
Home Design
- Composition Roof
- Block Exterior
- Stucco
Flooring
- Vinyl Flooring
Parking
- 6 Open Parking Spaces
- 6 Parking Spaces
Utilities
- Cooling Available
- Individual Controls for Heating
- Master Water Meter
Listing and Financial Details
- Tenant pays for electricity
- The owner pays for gas, electricity, trash collection, water, sewer
- Tax Lot 34
- Assessor Parcel Number 155-19-027
Community Details
Overview
- 4 Units
- Building Dimensions are 9,095
- Carolyn Place Lot 1 9, 46 54 Subdivision
Building Details
- Operating Expense $2,798
- Gross Income $94,594
- Net Operating Income $60,501
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jun 4, 2024
Closed on
Dec 31, 2024
Sold by
R6600 Holdings Lp
Bought by
Morales Juan Jose and Carreto Zalatihel Morales
Seller's Agent
Brad Skenderian
Matthews Real Estate Investment Services
Buyer's Agent
Blanca Guerrero
HomeSmart
List Price
$1,100,000
Sold Price
$1,000,000
Premium/Discount to List
-$100,000
-9.09%
Views
32
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$18,522
Avg. Annual Appreciation
-2.64%
Original Mortgage
$800,000
Outstanding Balance
$795,125
Interest Rate
6.78%
Mortgage Type
New Conventional
Estimated Equity
$186,353
Purchase Details
Closed on
Jun 29, 2018
Sold by
True Freedom Achievers Llc
Bought by
R 6600 Holdings Lp
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$210,000
Interest Rate
4.5%
Mortgage Type
Unknown
Purchase Details
Closed on
Jul 31, 2012
Sold by
Diy Llc
Bought by
True Freedom Achievers Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$130,414
Interest Rate
3.65%
Mortgage Type
Seller Take Back
Purchase Details
Closed on
Nov 17, 2009
Sold by
Feldpausch William C
Bought by
Diy Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$93,750
Interest Rate
4.83%
Mortgage Type
New Conventional
Purchase Details
Closed on
Nov 16, 2009
Sold by
Fortress Investments 3 Llc
Bought by
Feldpausch William C
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$93,750
Interest Rate
4.83%
Mortgage Type
New Conventional
Purchase Details
Closed on
Aug 31, 2009
Sold by
Hickmon Monte
Bought by
Fortress Investments #3 Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$65,000
Interest Rate
5.18%
Mortgage Type
Unknown
Purchase Details
Closed on
Aug 27, 2007
Sold by
Jimenez Angel and Quinones Jorge
Bought by
Hickmon Monte
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$44,000
Interest Rate
6.4%
Mortgage Type
Credit Line Revolving
Purchase Details
Closed on
Jul 29, 2004
Sold by
Jimenez Cynthia
Bought by
Jimenez Angel E
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$149,600
Interest Rate
6.29%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jun 25, 2003
Sold by
Nieto Salvador and Nieto Graciela B
Bought by
Nieto Pablo
Purchase Details
Closed on
Sep 3, 2002
Sold by
Nieto Salvador and Nieto Pablo B
Bought by
Nieto Salvador and Nieto Graciela B
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$141,334
Interest Rate
6.22%
Mortgage Type
FHA
Purchase Details
Closed on
Jun 23, 2000
Sold by
Farnsworth Martin D
Bought by
Nieto Salvador and Nieto Pablo B
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$143,043
Interest Rate
8.2%
Mortgage Type
FHA
Purchase Details
Closed on
Oct 25, 1999
Sold by
Va
Bought by
Farnworth Martin D
Purchase Details
Closed on
Oct 8, 1999
Sold by
Farnworth Patricia
Bought by
Farnworth Martin D
Purchase Details
Closed on
Feb 5, 1999
Sold by
Norwest Mtg Inc
Bought by
Va
Purchase Details
Closed on
Jan 29, 1999
Sold by
Saunders David L
Bought by
Norwest Mtg Inc
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $1,000,000 | Homelight Settlement | |
| Warranty Deed | $230,000 | Empire West Title Agency Llc | |
| Warranty Deed | $140,414 | Chicago Title Agency Inc | |
| Quit Claim Deed | -- | Security Title Agency | |
| Warranty Deed | $135,000 | Security Title Agency | |
| Trustee Deed | $92,826 | Security Title Agency | |
| Trustee Deed | $92,826 | None Available | |
| Warranty Deed | $235,000 | Fidelity National Title | |
| Interfamily Deed Transfer | -- | Grand Canyon Title Agency In | |
| Warranty Deed | $187,000 | Grand Canyon Title Agency In | |
| Interfamily Deed Transfer | $140,297 | -- | |
| Interfamily Deed Transfer | -- | Lawyers Title Of Arizona Inc | |
| Joint Tenancy Deed | $147,000 | Fidelity National Title | |
| Warranty Deed | -- | Stewart Title & Trust | |
| Interfamily Deed Transfer | -- | Stewart Title & Trust | |
| Warranty Deed | -- | -- | |
| Trustee Deed | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $800,000 | New Conventional | |
| Previous Owner | $306,680 | Commercial | |
| Previous Owner | $210,000 | Unknown | |
| Previous Owner | $130,414 | Seller Take Back | |
| Previous Owner | $93,750 | New Conventional | |
| Previous Owner | $65,000 | Unknown | |
| Previous Owner | $44,000 | Credit Line Revolving | |
| Previous Owner | $188,000 | New Conventional | |
| Previous Owner | $149,600 | New Conventional | |
| Previous Owner | $141,334 | FHA | |
| Previous Owner | $143,043 | FHA |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/30/2024 12/30/24 | Sold | $1,000,000 | -2.4% | $488 / Sq Ft |
| 12/05/2024 12/05/24 | Pending | -- | -- | -- |
| 09/28/2024 09/28/24 | Price Changed | $1,025,000 | -6.8% | $500 / Sq Ft |
| 06/04/2024 06/04/24 | For Sale | $1,100,000 | -- | $537 / Sq Ft |
Source: Arizona Regional Multiple Listing Service (ARMLS)
Tax History Compared to Growth
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 | $2,896 | $23,077 | -- | -- |
| 2024 | $2,798 | $21,978 | -- | -- |
| 2023 | $2,798 | $55,320 | $11,060 | $44,260 |
| 2022 | $2,782 | $37,070 | $7,410 | $29,660 |
| 2021 | $2,829 | $27,890 | $5,570 | $22,320 |
| 2020 | $2,758 | $25,830 | $5,160 | $20,670 |
| 2019 | $1,167 | $20,260 | $4,050 | $16,210 |
| 2018 | $1,088 | $17,600 | $3,520 | $14,080 |
| 2017 | $997 | $16,430 | $3,280 | $13,150 |
| 2016 | $961 | $12,530 | $2,500 | $10,030 |
| 2015 | $894 | $9,830 | $1,960 | $7,870 |
Source: Public Records
Agents Affiliated with this Home
-
Brad Skenderian
-
Blanca Guerrero
B
Buyer's Agent in 2024
Blanca Guerrero
HomeSmart
(602) 518-5713
2 in this area
6 Total Sales
Map
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6714468
APN: 155-19-027
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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