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About the Listing myhg24 - ny020
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.
Listing Highlights
Status
Active
Days on Site
142
Property Type
Multi-Family
MLS ®
6953631
Year Built
1943
Total Square Footage
0
Lot/Acreage
N/A
County
Maricopa
Neighborhood
Steve Rayburn Subdivision
School District
Phoenix Elementary District
Elementary School
Paul Dunbar Lawrence School
Middle School
Paul Dunbar Lawrence School
High School
Carl Hayden High School
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Ceiling Fan(s),Window/Wall Unit,Electric,Individual
- Heating: Window/Wall Unit(s),Electric
- Fireplaces:
- Floor: Tile
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: City Franchise
Exterior Details
- Garage Capacity: N/A
- Roof: Composition
- Others:
- Sewer: Public Sewer
- Parking Features: Carport
Financial Details
- Tax Amount: $983
- Taxes w/Assessments: N/A
- Tax/Property ID: 112-14-112
- Tax Year: 2025
Payment Calculator
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Questions About..
1515 W Tonto St Phoenix, AZ 85007
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