3517 E Montecito Ave., Phoenix, AZ 85018

Mid-century 4-plex near Camelback Corridor. Ideal situation for owner who wants to live there and putter around. Rents below market value for places (without pools)...thus the low GRM/CAP. Refreshing water sounds invite tenants to enjoy their private pool. Rare to find pool property nowadays but it adds to bottom line expenses. Pool amenity not factored into rents. Location is a HUGE factor since it's close to the Arcadia lifestyle, SR51, LGO, Vig, North, Chelsea's Kitchen, Gaslamp Square, Arcadia. Well-maintained complex with original 1950's construction. Lots of photos of entire complex plus interior shots of large 2 bedroom unit A and 1 bedroom unit C. Units remodeled to look of the 90's. Photos represent general condition of 2 units..other 2 have long-term tenants. Bring your flag! Additional comments to the Income/Expense Report: In 2013 there were 2 one-time expenses not reflected in the breakdown. Additional pool expense of $400 for fence repair, modification, paint and a new filter equipment enclosure. Additional landscape maintenance of $314 for a new automatic irrigation system. Other Expense Breakdown: Pool maintenance $535 City license $8 Pool permit $270 Operating Expense includes taxes & is automatically calculated. All units currently leased on month to month except Unit C with annual lease from 4/1/14. Unit A been there for 2 years. Unit B been there for 2 years. Unit D been there for 6 years. Owner enjoys doing the weekly pool cleaning, lawn mowing, trimming of the bushes, handyman repairs, painting, sweeping, general maintenance items and the value of his time is not included.