$2,800,000
$240K PRICE DROP

18202 N Cave Creek Rd Unit 17units Phoenix, AZ 85032

Paradise Valley Neighborhood

Estimated payment $15,190/month

Total Views 2,213
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

Highlights

  • Heated Community Pool
  • Community Barbecue Grill
  • Ceiling Fan
  • Resident Manager or Management On Site
  • Central Air
  • Vinyl Flooring

About This Home

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 bedroom,1-bath , one- 3 bed/1 ba. and eleven - 3 bed,2 ba units. All are equipped with their own washer/dryer.The property is located in a Prime location with nearby amenities and great transportation access.

Last Listed By

Amy D. Brown

Coldwell Banker Realty License #SA518715000 Listed on: 10/09/2024

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,960

Year Built

  • Built in 1983

Lot Details

  • Additional Parcels

Home Design

  • Wood Frame Construction
  • Built-Up Roof
  • Stucco

Interior Spaces

  • Ceiling Fan
  • Vinyl Flooring

Parking

  • 1 Parking Space
  • Carport
  • Over 1 Space Per Unit

Schools

  • Echo Mountain Primary Elementary School
  • Vista Verde Middle School
  • North Canyon High School

Utilities

  • Central Air
  • Individual Controls for Heating

Listing and Financial Details

  • Tax Lot 17 condos
  • Assessor Parcel Number 214-07-044

Community Details

Overview

  • 2 Buildings
  • 132 Units
  • Building Dimensions are unknown
  • Mountain Springs Terrace Condominium Subdivision

Recreation

  • Heated Community Pool

Building Details

  • Operating Expense $102,660
  • Gross Income $308,376
  • Net Operating Income $205,716

Additional Features

  • Community Barbecue Grill
  • Resident Manager or Management On Site

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,960

Year Built

Built in 1983

Lot Details

0

Listing Details

  • Cross Street: Cave Creek & Union Hills
  • Property Type: Multiple Dwellings
  • Zoning: R5
  • Number Of Buildings: 2
  • Ownership: Condominium
  • Year Built: 1983
  • Tax Year: 2024
  • Directions: South on Cave Creek to Michigan Ave. Complex will be on the Right.
  • Road Surface Type: Asphalt
  • Professional Management Expense: 9000.0
  • Subdivision Name: MOUNTAIN SPRINGS TERRACE CONDOMINIUM
  • Cooling:Central Air: Yes
  • Construction:Wood Frame: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Vinyl
  • Appliances: Built-In Range, Dishwasher, Refrigerator, Microwave, Washer/Dryer
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:BI OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes
  • Community Features:Pool2: Yes
  • Community Features:Barbecue: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Wood Frame, Painted, Stucco
  • Roof: Built-Up

Garage/Parking

  • Total Covered Spaces: 1.0
  • Parking Features: Other, >1 Space Per Unit, 1 Space/Unit, Carport
  • Attached Garage: No
  • Total Parking Spaces: 1.0
  • General Property Description:Covered Parking Spcs: 1.0
  • General Property Description:Total Parking Spcs: 1.0
  • Parking Features:Carport: Yes

Utilities

  • Electric: APS
  • Cooling: Central Air, Ceiling Fan(s), Electric
  • Heating: Individual, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Heating:Individual: Yes

Condo/Co-op/Association

  • Community Features: Barbecue, Manager Res/Office, Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:Security Light(s)3: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Mini Blinds: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Breakfast Bar2: Yes
  • Interior Amenities:Vertical Blinds2: Yes

Schools

  • Elementary School: Echo Mountain Primary School
  • High School: North Canyon High School
  • Junior High Dist: Paradise Valley Unified District
  • Middle Or Junior School: Vista Verde Middle School

Lot Info

  • Lot Size: unknown
  • Additional Parcels: Yes
  • Parcel #: 214-07-044

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Number Of Units Total: 132
  • Annual Gross Income: 308376.0
  • Insurance Expense: 7200.0
  • Maintenance Expense: 6000.0
  • Property Net Operating Income: 205716.0
  • Annual Operating Expense: 102660.0

Tax Info

  • Tax Annual Amount: 3960.0
  • Tax Book Number: 214.00
  • Tax Lot: 17 condos

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/13/2025 06/13/25 Price Changed $2,500,000 -10.7% --
01/27/2025 01/27/25 Price Changed $2,800,000 -7.9% --
10/09/2024 10/09/24 For Sale $3,040,000 -- --
Source: Arizona Regional Multiple Listing Service (ARMLS)

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6770068

Arizona Regional Multiple Listing Service (ARMLS)

Arizona Maricopa County Phoenix 85022 Paradise Valley

18202 N Cave Creek Rd Unit 17units, Phoenix, AZ

This home is located at 18202 N Cave Creek Rd Unit 17units, Phoenix, AZ 85032 and is currently priced at $2,800,000. This property was built in 1983. 18202 N Cave Creek Rd Unit 17units is a home located in Maricopa County with nearby schools including Echo Mountain Primary School, Echo Mountain Intermediate School, and Vista Verde Middle School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Arizona Regional Multiple Listing Service (ARMLS) All information should be verified by the recipient and none is guaranteed as accurate by ARMLS

Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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Amy D. Brown
Listing Agent
Amy D. Brown
Section Image
Coldwell Banker Realty
(623) 400-8350