Address
1515 W Tonto Street, Phoenix, AZ
Price
$ 619,900
Property Attributes
- MLS#6987208
- TypeSingle Family
- Listing Status Active
- CountyMARICOPA
- CityPhoenix
- NeighborhoodSTEVE RAYBURN SUBDIVISION
- Zip85007
- StyleBusiness Opportunity
- Price$ 619,900
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage1485
- Lot Size0.15 Acres
Data Source:
Arizona Regional MLS (ARMLSN)
Property Description
Fully renovated and fully furnished, this turnkey 3-unit short-term rental in Downtown Phoenix offers strong, documented cash flow and an impressive 4.8+ star Airbnb rating. The asset generated $119,442 in gross revenue in 2024 and $103,198 in 2025, with a two-year average revenue of approximately $111,320, producing operating income of $62,272 in 2024 and $53,719 in 2025, for a two-year average NOI of roughly $57,996--reflecting strong operating margins of about 52%. This is a stabilized, high-margin hospitality investment ideal for investors seeking immediate cash flow, experienced short-term rental operators expanding their portfolio, or buyers looking for a prime-location income property in one of Arizona's fastest-growing urban markets. The property located in a high-demand area of Downtown Phoenix, minutes to Chase Field, the Convention Center, ASU Downtown, Roosevelt Row, Van Buren. The property features one 2-bed/1-bath unit, one 1-bed/1-bath unit, and a private studio- each with its own kitchen, full bath, and separate entrance - providing three independent income streams under one roof. A separate laundry room and storage shed support efficient operations for guests and cleaning staff, while the fenced common courtyard with grill, fire pit, lounge seating, and hammock enhances guest experience and occupancy appeal.
| Price History | |
|---|---|
| 2/20/2026 | Listed $629,900 |
| 2/21/2026 | 2$619,900 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Window/Wall Unit(s),Electric |
| Cooling | Window/Wall Unit,Electric |
| Construction Materials | Stucco |
| Electric | APS |
| Township | 1N |
| Business Type | Hotel/Motel,Other,See Remarks |
| County | Maricopa |
| Net Operating Income | 62272.0 |
| Operating Expense | 57170.0 |
| New Construction | No |
| Property Type | Business Opportunity |
| Attached Garage | No |
| Subdivision Name | STEVE RAYBURN SUBDIVISION |
| Status | Active |
| Directions | North on 15th Ave from Buckeye Rd,West on Tonto to home on the south. |
| City | Phoenix |
| Disclosures | Seller Prop Disc Stm |
| Open Parking Spaces | 2.0 |
| Lot Size Units | Square Feet |
| Lot Size Square Feet | 6426.0 |
| Carport Y/N | No |
| Current Financing | Conventional |
| Lease Renewal Y/N | No |
| Lease Considered Y/N | No |
| Rent Control Y/N | No |
| Standard Status | Active |
| Occupancy Type | Interim Occupant |
| MobileHomeRemainsYN | No |
| Senior Community | No |
Interior Features
| Air Conditioning Y/N | Yes |
|---|---|
| Heating Y/N | Yes |
Exterior Features
| Parking Features | Private |
|---|---|
| Water Source | Master Meter,City Franchise |
| Lot Size Area | 6426.0 |
| Spa | No |
| Lot Size Acres | 0.15 |
| Road Surface Type | Asphalt |
| Covered Spaces | 1.0 |
| Crops Included Y/N | No |
| Irrigation Water Rights Y/N | No |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 85007
Price
Visits
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