1515 W TONTO Street, Phoenix, AZ 85007 (MLS# 6953631)

1515 W TONTO Street, Phoenix, AZ 85007

$619,000
Property Type: Multiple Dwellings Status: Active
Current Price: $619,000 List Date: 12/04/2025 Last Modified: 4/13/2026

Overview

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.

Supplements: 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 unde ...

Listing Details MLS# 6953631

Location, Tax & Legal

House Number
1515
Compass
W
Street Name
TONTO
St Suffix
Street
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85007
Zip4
3540
County Code
Maricopa
Subdivision
STEVE RAYBURN SUBDIVISION
Assessor Number
112-14-112
Tax Year
2025
Assessor's Map #
14
Legal Description (Abbrev)
STEVE RAYBURN SUB
Assessor's Parcel #
112
Add'l Parcels
No
Tax Municipality
Phoenix
Census Tract
114302
Taxes
983
Legal
STEVE RAYBURN SUB
Marketing Name
none

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
50x128
Year Built
1943
Uncvrd Parking Spcs
Yes
Total # of Units
3
# of Buildings
2
Zoning
R-3
Flood Zone
No
Elementary School District
Phoenix Elementary District
High School District
Phoenix Union High School District
Elementary School
Paul Dunbar Lawrence School
Jr. High School
Paul Dunbar Lawrence School
High School
Carl Hayden High School

Remarks Misc

Cross Street
Buckeye Rd and 15th
Directions
North on 15th Ave from Buckeye Rd, West on Tonto to home on the south.

Legal Info

Township
1N
Range
3E
Section
7
Lot Number
7

Income Expenses

Gross Annual Sch Inc
119442
Net Operating Income
62272

More Information

Showing Notification Methods

Showing Service
Aligned Showings
Text
Yes

Efficiency Units

Avg SqFt
1485
Avg Rent
0

1 Bedroom Units

Avg SqFt
360
Avg Rent
0

2 Bedroom Units

Avg SqFt
600
Avg Rent
0

Project Type

Tri-Plex
Yes

Other Type

House + Rental Units
Yes

Construction

Block
Yes

Const - Finish

Stucco
Yes

Roofing

Composition
Yes

Floors

Tile
Yes

Sale Includes

Land & Building
Yes
Personal Property
Yes

Income & Expenses

Annual Elec Exp
4692
Annual Gas Exp
0
Annual Ins Exp
1600
Annual Maint Exp
12755
Annual Mgmt Exp
27912
Annual Trash Exp
300
Annual Wtr/Swr Exp
600
Owner Association
No
Annual Ownr Asoc Fee
0
Annual Other Expense
8328
Operating Exp
57170
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
119442

Pmt & Rate Info

Cap Rate
9.9
Down Payment %
5
Monthly Payments
2378
Total Owed
0

Payment Includes

Principal
Yes
Interest
Yes
Taxes
Yes
Insurance
Yes

Lockbox Type

See Private Remarks
Yes
None
Yes

Community Features

No Pool
Yes

Heating

Electric
Yes
Window/Wall Unit(s)
Yes

Cooling

Ceiling Fan(s)
Yes
Electric
Yes
Window/Wall Unit
Yes
Individual
Yes

Exterior Amenities

Desert Landscaping
Yes
Fenced
Yes
Separate Storage
Yes

Interior Features

Furnished
Yes
Fire/Smoke Alarm(s)
Yes
Fire Sprinklers
Yes

Tenant Pays

None
Yes

Appliances Included

Built-In Gas Oven
Yes
Dishwasher
Yes
Free-Standing Gas Oven
Yes
Microwave
Yes
Refrigerator
Yes
Washer/Dryer
Yes

Road Access Type

City Street
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Owner
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

Carport
Yes

Electric

APS
Yes

Gas

SW Gas
Yes

Owner Pays

Water
Yes
Sewer
Yes
Electric
Yes
Gas
Yes
Trash Collection
Yes
Cable TV
Yes

New Financing

Cash
Yes
Cash to Loan
Yes
VA
Yes
Conventional
Yes
FHA
Yes
No Carry
Yes
1031 Exchange
Yes

Special

Owner/Agent
Yes

Existing 1st Loan

Conventional
Yes

Existing 1st Loan Type

Fixed
Yes

Existing 1st Loan Terms

Non Assumable
Yes

Reports/Disclosures

None
Yes

Environmental

None
Yes

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: Tri-Plex Other Type: House + Rental Units Construction: Block Const - Finish: Stucco Roofing: Composition Floors: Tile Sale Includes: Land & Building; Personal Property Payment Includes: Principal; Interest; Taxes; Insurance Community Features: No Pool Exterior Amenities: Desert Landscaping; Fenced; Separate Storage Interior Features: Furnished; Fire/Smoke Alarm(s); Fire Sprinklers Appliances Included: Built-In Gas Oven; Free-Standing Gas Oven; Refrigerator; Dishwasher; Microwave; Washer/Dryer Heating: Window/Wall Unit(s) Cooling: Ceiling Fan(s); Electric; Window/Wall Unit; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: Carport Road Access Type: City Street Road Surface Type: Asphalt Owner Pays: Water; Electric; Gas; Trash Collection; Cable TV Tenant Pays: None Source of Fincl Data: Owner Special: Owner/Agent Showing Notification Methods: Text Lockbox Type: See Private Remarks; None Existing 1st Loan: Conventional Existing 1st Loan Type: Fixed Existing 1st Loan Terms: Non Assumable New Financing: Cash; Cash to Loan; VA; FHA; Conventional; No Carry; 1031 Exchange Environmental: None
Listing Office: eXp Realty
IDX
Last Updated: April - 13 - 2026
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