Properties
Phoenix, AZ 85014 1021 E FAIRMOUNT Avenue
$2,100,000
11 more
Presented By: Matthews Real Estate Investment Services; 310-388-0788
Garage • 1
Home Details
1017 -1031 E Fairmount is an 8-unit apartment community located in the highly desirable Midtown Phoenix submarket. Built in 1966, The unit mix consists of (3) 1x1 units, (3) 2x1 units, and (2) 2x1.5 units, with an average rent of $1,528. 6 of the 8 units have been fully renovated with thoughtful, durable improvements including luxury vinyl plank flooring, quartz countertops, workstation-style extra-wide sinks, mini range hoods, updated light fixtures, and refreshed bathrooms featuring new tubs, tile backsplash, and modern vanities. All units offering in-suite washer/dryer or dedicated W/D access. The property also features large private front and backyards, 3 private garages, 2 covered carport spaces, and lush landscaping. 6.03% cap rate on current financials.
Presented By: Matthews Real Estate Investment Services; 310-388-0788
Interior Features for 1021 E FAIRMOUNT Avenue
Bathrooms
Total Baths
Other Interior Features
Air Conditioning Y/NYes
FlooringVinyl
Heating Y/NYes
General for 1021 E FAIRMOUNT Avenue
Additional Parcels Y/NNo
Attached Garage No
Cap Rate6.04
Carport Y/NNo
CityPhoenix
Community FeaturesNo Pool
Construction MaterialsWood Frame, Painted, Block
CoolingElectric
CountyMaricopa
DisclosuresNone
ElectricAPS, Individual Meter
Electric Expense945.0
Elementary SchoolLongview Elementary School
Elementary School DistrictOsborn Elementary District
Garage Y/NYes
Gross Income156279.0
HeatingNatural Gas
High SchoolNorth High School
High School DistrictPhoenix Union High School District
Insurance Expense4200.0
Lease Considered Y/NNo
Lease Renewal Y/NNo
MaintenanceExpense2604.0
Middle/Junior High SchoolLongview Elementary School
MobileHomeRemainsYNNo
Net Operating Income126747.0
New ConstructionNo
New Financing: CashTrue
New Financing: ConventionalTrue
Number Of Units Total8
Open Parking Spaces1.0
Operating Expense29218.0
OwnerPaysTrash Collection, Water, Sewer
OwnershipFee Simple
OwnershipFee Simple
Property TypeMultiple Dwellings
Rent Control Y/NNo
RoofComposition
Senior CommunityN
SewerSewer-In & Connected, Public Sewer
Standard StatusActive
StatusActive
Subdivision NameWEST IDLEWILDE
Tax Annual Amount4003.0
Tax Lot1
Tax Year2025
Township2N
Water Sewer Expense6005.0
Year Built1964
ZoningR-3
Exterior for 1021 E FAIRMOUNT Avenue
Covered Spaces4.0
Crops Included Y/NNo
Exterior AmenitiesSidewalk(s)
Irrigation Water Rights Y/NNo
Lot Dimensions19533
Number of Buildings3
Parking FeaturesOn Street, Carport
Road Surface TypeAsphalt
SpaNo
Total Parking5.0
Water SourceCity Franchise
Additional Details
Price History
Schools
High School
North High School
Middle School
Longview Elementary School
