$405,000
SOLD MAR 6, 2023

16718 E Avenue of the Fountains Fountain Hills, AZ 85268

-- Bed
-- Bath
2,356 Sq Ft
1,250 Sq Ft Lot

Recently Sold

$172 Per Sq Ft

9% Below List Price

351 Days on Market

Highlights

  • Community Kitchen
  • Ceramic Tile Flooring
  • Heat Pump System
  • Fountain Hills Middle School Rated A-
  • Central Air

About This Home

As of March 2023

Located in the Thriving Center of Fountain Hills, Great for Owner Occupied or Investor. Three suites total with the Downstairs currently used as a Day Spa with 3 individual treatment rooms, reception area plus restroom, laundry and kitchenette. Also Two upstairs office suites with separate entrances and private restrooms for a total of 2356 sf. Built in 1993, this property has fire sprinklers, a stone facade at the entry, block walls and beautiful interior finishes and is across from the Town Hall, Community Center and an easy walk to the Post Office. Upstairs units can be converted into work/live space. Owner currently occupies one of the suites. All facts and figures approximate, Buyer to verify to their satisfaction. Please do not disturb tenants.

Last Agent to Sell the Property

George Akers

Better Homes & Gardens Real Estate SJ Fowler License #SA533875000 Listed on: 01/27/2023

Better Homes & Gardens Real Estate SJ Fowler

Last Buyer's Agent

Steven Lambrecht

Steven A Lambrecht, LLC License #BR557318000

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $2,495

Year Built

  • Built in 2003

Lot Details

  • 1,250 Sq Ft Lot
  • Property is zoned C2

Home Design

  • 2,356 Sq Ft Home
  • Built-Up Roof
  • Block Exterior
  • Stucco

Flooring

  • Carpet
  • Concrete
  • Ceramic Tile

Parking

  • 100 Open Parking Spaces
  • 100 Parking Spaces
  • Public Parking
  • Free Parking
  • Paved Parking

Utilities

  • Central Air
  • Heat Pump System
  • Private Water Source

Listing and Financial Details

  • Tax Lot 7
  • Assessor Parcel Number 176-05-128

Community Details

Overview

  • Building Dimensions are .029
  • Fountain Hills Arizona No. 208 Block 5 8 Subdivision

Amenities

  • Community Kitchen
  • Reception Area

Building Details

  • Operating Expense $2,690
  • Gross Income $17,100
  • Net Operating Income $15,230

Property Details

Property Type

Other

Est. Annual Taxes

$2,495

Year Built

Built in 2003

Lot Details

0

Listing Details

  • Cross Street: Saguaro and Avenue of the Fountains
  • Legal Info Range: 6E
  • Property Type: Comm/Industry Sale
  • Zoning: C2
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 2003
  • Tax Year: 2021
  • Directions: :Saguaro and Avenue of the Fountains Directions: Shea to Saguaro, left at Avenue of the Fountains, to building on the right. Building is on a landscaped mall just off The Avenue of the Fountains
  • Lot Size Acres: 0.03
  • Road Surface Type: Asphalt, Curb(s) & Gutter(s), Sidewalk(s)
  • Subdivision Name: FOUNTAIN HILLS ARIZONA NO. 208 BLOCK 5-8
  • Structure Type: Other (See Remarks), Commercial, Office
  • Water Source Private Franchise: Yes
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Flooring: Carpet, Ceramic Tile, Concrete
  • Living Area: 2356.0

Exterior Features

  • Fencing: None
  • Disclosures: None
  • Construction Type: Stucco, Block
  • Roof: Built-Up
  • Construction:Block: Yes
  • Construction:Stucco2: Yes

Garage/Parking

  • Parking Features: Paved, Public Parking, Free
  • Attached Garage: No
  • Open Parking Spaces: 100.0
  • Total Parking Spaces: 100.0
  • General Property Description:Uncvrd Parking Spcs: 100.0
  • General Property Description:Total Parking Spcs: 100.0
  • Parking Features Paved Parking: Yes
  • Parking Features Free: Yes
  • Parking Features Public Parking: Yes

Utilities

  • Electric: Individual Meter, SRP
  • Cooling: Central Air, Heat Pump
  • Heating: Heat Pump, Electric
  • Green Building Features: Reception Room, Kitchen
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: Private
  • Heating:Electric: Yes
  • Heating:Heat Pump2: Yes

Association/Amenities

  • Amenities:Kitchen: Yes
  • Amenities:Reception Room: Yes

Lot Info

  • Lot Size: .029
  • Lot Size Sq Ft: 1250.0
  • Parcel #: 176-05-128
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Annual Gross Income: 17100.0
  • Property Net Operating Income: 15230.0
  • Annual Operating Expense: 2690.0
  • Vacancy Allowance Rate: 0.05
  • Leasable Area: 2357.0

Tax Info

  • Tax Annual Amount: 2495.0
  • Tax Book Number: 176.00
  • Tax Lot: 7
  • Tax Map Number: 5.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 27, 2023
Closed on
Mar 6, 2023
Sold by
Northern Clover Llc
Bought by
Gl Solo 401K Trust
Seller's Agent
George Akers
Better Homes & Gardens Real Estate SJ Fowler
Buyer's Agent
Steven Lambrecht
Steven A Lambrecht, LLC
List Price
$444,000
Sold Price
$405,000
Premium/Discount to List
-$39,000
-8.78%
Current Estimated Value
$461,312

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$56,312
Avg. Annual Appreciation
5.62%

Purchase Details

Listed on
Aug 8, 2019
Closed on
Feb 6, 2020
Sold by
Goyer Douglas Gene and Goyer Diana Ruth
Bought by
Northern Clover Llc
Seller's Agent
Audra Travis
My Home Group Real Estate
Buyer's Agent
George Akers
Better Homes & Gardens Real Estate SJ Fowler
List Price
$279,000
Sold Price
$250,000
Premium/Discount to List
-$29,000
-10.39%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
17.08%
Original Mortgage
$220,000
Interest Rate
3.72%
Mortgage Type
Seller Take Back

Purchase Details

Listed on
Oct 9, 2013
Closed on
Dec 11, 2013
Sold by
Regency Development Inc
Bought by
Goyer Douglas Gene and Goyer Diane Ruth
Seller's Agent
Jerry Caldwell
HomeSmart
Buyer's Agent
Audra Travis
My Home Group Real Estate
List Price
$179,500
Sold Price
$173,500
Premium/Discount to List
-$6,000
-3.34%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.11%
Original Mortgage
$119,000
Interest Rate
4.13%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 29, 2010
Sold by
Krause Mari B
Bought by
Regency Development Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$100,000
Interest Rate
5.03%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 19, 2002
Sold by
Goebel Jeannine A and The Goebel Trust
Bought by
Regency Development Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$49,500
Interest Rate
5.86%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Warranty Deed $405,000 First American Title Insurance
Warranty Deed $250,000 Premier Title Agency
Special Warranty Deed $173,500 First Arizona Title Agency
Quit Claim Deed -- None Available
Warranty Deed $49,500 Capital Title Agency Inc
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $220,000 Seller Take Back
Previous Owner $119,000 Commercial
Previous Owner $100,000 Commercial
Previous Owner $50,000 Commercial
Previous Owner $215,000 Construction
Previous Owner $49,500 Commercial
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/06/2023 03/06/23 Sold $405,000 -8.8% $172 / Sq Ft
02/09/2023 02/09/23 Pending -- -- --
01/27/2023 01/27/23 For Sale $444,000 0.0% $188 / Sq Ft
12/08/2022 12/08/22 Pending -- -- --
10/25/2022 10/25/22 Price Changed $444,000 -0.2% $188 / Sq Ft
06/06/2022 06/06/22 Price Changed $445,000 -0.9% $189 / Sq Ft
04/19/2022 04/19/22 Price Changed $449,000 -4.5% $191 / Sq Ft
02/23/2022 02/23/22 For Sale $470,000 +88.0% $199 / Sq Ft
02/12/2020 02/12/20 Sold $250,000 -5.3% $106 / Sq Ft
01/17/2020 01/17/20 Pending -- -- --
10/17/2019 10/17/19 Price Changed $264,000 -5.4% $112 / Sq Ft
08/01/2019 08/01/19 For Sale $279,000 +60.8% $118 / Sq Ft
12/18/2013 12/18/13 Sold $173,500 -3.3% $74 / Sq Ft
10/18/2013 10/18/13 Pending -- -- --
10/09/2013 10/09/13 For Sale $179,500 -- $76 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $2,327 $37,681 -- --
2024 $2,216 $37,008 -- --
2023 $2,216 $39,338 $7,140 $32,198
2022 $2,232 $40,093 $6,685 $33,408
2021 $2,495 $49,446 $6,876 $42,570
2020 $2,448 $42,408 $6,192 $36,216
2019 $2,491 $38,970 $5,328 $33,642
2018 $2,481 $31,734 $6,480 $25,254
2017 $2,389 $28,692 $6,480 $22,212
2016 $2,621 $30,294 $6,750 $23,544
2015 $3,646 $45,030 $8,233 $36,797
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6359489

Arizona Regional Multiple Listing Service (ARMLS)

APN: 176-05-128