Properties
Phoenix, AZ 85032 18202 Cave Creek Road # 17units
$2,380,000
57 more
Presented By: Coldwell Banker Realty; 928-282-4666
Home Details
This property presents a compelling investment opportunity with its attractive unit mix, desirable location, and potential for additional income through owner-operated facilities. It is a well-positioned, income-generating asset. There are opportunities to even increase current rental income for further value. This property is a prudent choice for investors looking to expand, diversify or start their portfolio. It offers a stable and reliable income stream. The property is 100% occupied and all units were remodeled. There are five-2 beds/1-bath, one-3 beds/1 bath, and eleven-3 beds /2 bath units. All are equipped with their own washer/dryer. The property is located in a Prime location with nearby amenities and great transportation access. Some bedroom counts includes a den (2 beds = 1 bedroom + den and 3 beds = 2 bedrooms + den). The den can function as a bedroom but doesn't have a window.
Presented By: Coldwell Banker Realty; 928-282-4666
Interior Features for 18202 Cave Creek Road # 17units
Bathrooms
Total Baths
Other Interior Features
Air Conditioning Y/NYes
FlooringVinyl
Heating Y/NYes
General for 18202 Cave Creek Road # 17units
Additional Parcels Y/NYes
Attached Garage No
Cap Rate7.75
Carport Y/NNo
CityPhoenix
Community FeaturesBarbecue, Manager Res/Office, Pool
Construction MaterialsWood Frame, Painted, Stucco
CoolingCentral Air, Ceiling Fan(s), Electric
CountyMaricopa
DirectionsSouth on Cave Creek to Michigan Ave. Complex will be on the Right.
DisclosuresNone
ElectricAPS
Elementary SchoolEcho Mountain Primary School
Elementary School DistrictParadise Valley Unified District
Garage Y/NNo
Gross Income296400.0
HeatingIndividual, Electric
High SchoolNorth Canyon High School
High School DistrictParadise Valley Unified District
Insurance Expense7200.0
Lease Considered Y/NNo
Lease Renewal Y/NNo
MaintenanceExpense6000.0
Middle/Junior High SchoolVista Verde Middle School
MobileHomeRemainsYNNo
Net Operating Income193740.0
New ConstructionNo
New Financing: CashTrue
Number Of Units Total17
Occupancy TypeTenant
Open Parking Spaces0.0
Operating Expense102660.0
OwnerPaysTrash Collection, Sewer
OwnershipCondominium
OwnershipCondominium
Property TypeMultiple Dwellings
Rent Control Y/NNo
RoofBuilt-Up
Security FeaturesSecurity Light(s), Security Guard
Senior CommunityN
SewerPublic Sewer
Standard StatusActive
StatusActive
Subdivision NameMOUNTAIN SPRINGS TERRACE CONDOMINIUM
Tax Annual Amount3960.0
Tax Lot17 condos
Tax Year2024
Unit Number17units
Year Built1983
ZoningR5
Exterior for 18202 Cave Creek Road # 17units
Covered Spaces17.0
Crops Included Y/NNo
Irrigation Water Rights Y/NNo
Lot Dimensionsunknown
Number of Buildings2
Parking FeaturesOther, >1 Space Per Unit, 1 Space/Unit, Carport
Road Surface TypeAsphalt
SpaNo
Total Parking17.0
Water SourceCity Franchise
Additional Details
Price History
Schools
Elementary School
Echo Mountain Primary School Elementary School
Middle School
Vista Verde Middle School
High School
North Canyon High School
