1515 W TONTO Street, Phoenix, AZ 85007
$629,900
Property Type:
Business Opportunity
Square Footage:
1,485
Lot Size (sq. ft.):
6,426
Status:
Active
Current Price:
$629,900
Last Modified:
2/20/2026
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 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.
More Information MLS# 6987208
General Property Description
Sold Price Per SqFt: 424.18
# of Interior Levels: 1
Ttl Apx SqFt Bldg: 1485
Uncvrd Parking Spcs: 2
Legal Info
Range: 3E
Section: 7
Township: 1N
Construction
Stucco: 1
Income & Expenses
Annual Gross Sales: 119442
Owners Draw Included: Yes
Annual Owners Salary: 27915
Annual Mngr Salary: 0
Anl Int (Non-RelEst): 0
Annual Depreciation: 1200
Annual Fringes: 0
Adjusted Net Income: 53719
Apx Value of Cash: 0
Business Type
Hotel/Motel: 1
Other: 1
See Remarks: 1
Pmt & Rate Info
Equity: 629900
Down Payment %: 5
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
None: 1
Type of Lease
Other - See Remarks: 1
Form of Ownership
Other - See Remarks: 1
Sale Price Includes
Real Estate: 1
Lease Information
Other - See Remarks: 1
Hours of Operation
7 Days/Week: 1
Business Age
1 - 3 Years: 1
Heating
Electric: 1
Window/Wall Unit(s): 1
Current Ownership
1 - 3 Years: 1
Cooling
Electric: 1
Window/Wall Unit: 1
Training
2 Weeks: 1
Expenses Include
Utilities: 1
Advertising: 1
Supplies: 1
Taxes - Rental: 1
Repairs: 1
Payroll: 1
Telephone: 1
Business/Tenant Pays
None: 1
Road Access Type
City Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Private: 1
Electric
APS: 1
Gas
SW Gas: 1
New Financing
Cash: 1
Conventional: 1
No Carry: 1
Current Financing 1
Conventional: 1
Current Financing 2
Treat as Free & Clr: 1
Current Financing 3
Treat as Free & Clr: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Contract Info
Current Price: $629,900
List Price: $629,900
Status: Active
List Date: 2026-02-19
Location
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
Remarks Misc
Cross Street: Buckeye Rd and 15th
Directions: North on 15th Ave from Buckeye Rd, West on Tonto to home on the south.
Geo Lat: 33.438314
Geo Lon: -112.09198
Income Expenses
Net Operating Income: 62272
Property Features
Business Type: Hotel/Motel; Other; See Remarks
Form of Ownership: Other - See Remarks
Sale Price Includes: Real Estate
Lease Information: Other - See Remarks
Hours of Operation: 7 Days/Week
Type of Lease: Other - See Remarks
Business Age: 1 - 3 Years
Current Ownership: 1 - 3 Years
Training: 2 Weeks
Expenses Include: Utilities; Advertising; Supplies; Taxes - Rental; Repairs; Payroll; Telephone
Source of Fincl Data: Owner
Construction: Stucco
Parking Features: Private
Road Access Type: City Street
Electric: APS
Gas: SW Gas
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Heating: Window/Wall Unit(s)
Cooling: Electric; Window/Wall Unit
Lockbox Type: None
Road Surface Type: Asphalt
Current Financing 1: Conventional
Current Financing 2: Treat as Free & Clr
Current Financing 3: Treat as Free & Clr
New Financing: Cash; Conventional; No Carry
Environmental: None
Listing Office:
eXp Realty
Last Updated: February - 20 - 2026
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