See all 23 photos

$625,000

Est. payment - /mo

Save

5 Beds

Price Dropped by $75K

18202 Cave Creek Road #5 units Phoenix, AZ 85032

Save

REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Sharon Seymour

sharon@sharonseymour.com +1(907) 337-5363

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Subdivision Mountain Springs Terrace Condominium

MLS Listing ID 6770097

Bedrooms 5

Maintenance Fees $3,000

Year Built 1983

Annual Tax Amount $1,800

Tax Year 2024

Lot Dimensions verify

Source Arizona Regional Multiple Listing Service (ARMLS)

Property Description

5-UNIT VALUE-ADD INVESTMENT OPPORTUNITY | $625,000 | Approx. $125,000 Per Unit Small portfolio. Big opportunity.Terrace, offering investors an opportunity to acquire a manageable workforce housing portfolio with future flexibility. Each residence is a 1-bedroom plus den / 1-bath floor plan (the den functions as a bedroom but does not have a window) and includes its own washer and dryer. Priced at $625,000--approximately $125,000 per unit--this portfolio is well suited for investors looking to expand an existing rental portfolio or establish a meaningful presence in the Phoenix workforce housing market.The projected income profile offers attractive risk-adjusted return potential for investors who understand value-add opportunities and active portfolio management.This is an unwarrantable condominium community, making conventional residential financing challenging. The ideal purchaser will utilize commercial financing, cash, a 1031 Exchange, private capital, or other investment strategies appropriate for this type of asset. Investment Highlights: Individually deeded condominium ownership allowing future resale flexibility. Professionally managed HOA. Renovated units with in-unit washer and dryer. Strong workforce housing demand in North Phoenix. Covered parking, community pool, on-site management office, barbecue area and convenient freeway access. Attractive entry point at approximately $125,000 per unit. This portfolio offers investors an opportunity to own income-producing real estate with operational upside while maintaining a manageable five-unit footprint. If you're looking for a pristine institutional asset, this isn't it. If you're looking for cash flow, upside, and know how to operate Class C workforce housing, let's talk.

Location

State AZ

County Maricopa

Community Mountain Springs Terrace Condominium

Area Maricopa

Zoning R5

Direction South on Cave Creek to Michigan Ave. Complex will be on the Right.

Interior

Heating Individual, Electric

Cooling Central Air, Ceiling Fan(s), Electric

Flooring Vinyl

Appliance Built-In Range, Dishwasher, Refrigerator, Microwave, Washer/Dryer

Exterior

Parking Features Other, Paved, >1 Space Per Unit, 1 Space/Unit, Carport

Community Features Barbecue, Manager Res/Office, Pool

Roof Type Built-Up

Private Pool Yes

Building

Sewer Public Sewer

Water City Franchise

New Construction No

Schools

Elementary Schools Echo Mountain Primary School

Middle Schools Vista Verde Middle School

High Schools North Canyon High School

School District Paradise Valley Unified District

Others

Senior Community No

Tax ID 214-07-044

Acceptable Financing Owner May Carry, 1031 Exchange

Disclosures None

Listing Terms Owner May Carry, 1031 Exchange

Listed by Coldwell Banker Realty • Amy D Brown

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

Sharon Seymour

Real Estate Broker & Mortgage Lender | License ID: 188995

+1(907) 337-5363

18202 Cave Creek Road #5 units Phoenix, AZ 85032

Sharon Seymour

Key Details

Location

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

Go tour this home

18202 Cave Creek Road #5 units