NOT LISTED FOR SALE

18202 N Cave Creek Rd Unit Multi Phoenix, AZ 85032

Paradise Valley Neighborhood
-- Bed
-- Bath
-- Sq Ft
1983 Built

Last Sold May 31, 2024

Last sale price $1,440,000

74 Days on Market

Highlights

  • Heated Community Pool
  • Vinyl Flooring
  • Heating Available
  • Central Air

About This Home

As of May 2024

Welcome to an extraordinary real estate investment opportunity that offers both immediate returns and long-term potential. These eight remodeled condo units are not just properties; they represent a strategic step towards building a robust and reliable real estate portfolio. Recently refurbished with a keen eye for modern elegance, these units offer a comfortableand enticing living space for currentand potential tenants. Nestled in a primelocation and with in-demand amenities,they boast low monthly expenses while offering a fantastic cap rate of 6.72% % for investors. The appeal doesn't end here; these units are not only warrantable and VA-approved but also offer access to guaranteed subsidized rental programs. This unique investment package allows...

Last Agent to Sell the Property

Amy D. Brown

Coldwell Banker Realty License #SA518715000 Listed on: 02/14/2024

Coldwell Banker Realty

Last Buyer's Agent

Christopher Ainsworth

eXp Realty License #SA679196000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $248

Year Built

  • Built in 1983

Home Design

  • Wood Frame Construction
  • Foam Roof
  • Stucco

Flooring

  • Vinyl Flooring

Parking

  • 1 Open Parking Space
  • 9 Parking Spaces
  • 8 Covered Spaces
  • Common or Shared Parking
  • Assigned Parking

Schools

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

Utilities

  • Central Air
  • Heating Available

Listing and Financial Details

  • Tenant pays for electricity, cable TV
  • Tax Lot 119
  • Assessor Parcel Number 214-07-052

Community Details

Overview

  • 8 Units
  • Building Dimensions are Unknown
  • Mountain Springs Terrace Condominium Subdivision

Recreation

  • Heated Community Pool

Building Details

  • Operating Expense $43,368
  • Net Operating Income $102,200

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$248

Year Built

Built in 1983

Lot Details

0

Listing Details

  • Cross Street: Cave Creek & Union Hills
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: MF
  • Number Of Buildings: 1
  • Ownership: Condominium
  • Year Built: 1983
  • Tax Year: 2023
  • Directions: South on Cave Creek to Michigan Ave. Complex will be on the right.
  • Road Surface Type: Asphalt
  • Subdivision Name: MOUNTAIN SPRINGS TERRACE CONDOMINIUM
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Vinyl
  • Appliances: F/S Oven/Range, Microwave, Washer/Dryer
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Disposal2: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Painted, Stucco, Frame - Wood
  • Roof: Foam
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Total Covered Spaces: 8.0
  • Parking Features: Other (See Remarks), Assigned, Add'l Parking Avail, 1 Space/Unit, Common
  • Attached Garage: No
  • Open Parking Spaces: 1.0
  • Total Parking Spaces: 9.0
  • General Property Description:Covered Parking Spcs: 8.0
  • General Property Description:Uncvrd Parking Spcs: 1.0
  • General Property Description:Total Parking Spcs: 9.0
  • Parking:Carport: Yes
  • Parking:Add_squote_l Parking Avail: Yes
  • Parking:Assigned: Yes
  • Parking:Other (See Remarks)24: Yes

Utilities

  • Electric: APS
  • Cooling: Central A/C, Electric
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: Pool

Association/Amenities

  • Exterior Amenities:Cable TV Available: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Community Amenities:Pool2: Yes
  • Interior Amenities:Unfurnished: 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: No
  • Parcel #: 214-07-052

Multi Family

  • Owner Pays: See Remarks
  • Tenant Pays: Electricity, Cable TV
  • Number Of Units Total: 8
  • Insurance Expense: 4090.0
  • Maintenance Expense: 600.0
  • Property Net Operating Income: 102200.0
  • Annual Operating Expense: 43368.0
  • Vacancy Allowance Rate: 1.0

Tax Info

  • Tax Annual Amount: 248.0
  • Tax Book Number: 214.00
  • Tax Lot: 119

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
05/31/2024 05/31/24 Sold $1,440,000 -2.7% --
04/30/2024 04/30/24 Pending -- -- --
04/04/2024 04/04/24 Price Changed $1,480,000 -2.6% --
02/15/2024 02/15/24 For Sale $1,520,000 -- --
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Amy D. Brown

    Seller's Agent in 2024

    Amy D. Brown

    Coldwell Banker Realty

    (928) 254-0501

    7 in this area

    94 Total Sales

    Amy D. Brown
    Section Image
  • Christopher Ainsworth

    Buyer's Agent in 2024

    Christopher Ainsworth

    eXp Realty

    (480) 788-9332

    5 in this area

    101 Total Sales

    Christopher Ainsworth
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6663975

Arizona Regional Multiple Listing Service (ARMLS)

Arizona Maricopa County Phoenix 85022 Paradise Valley

18202 N Cave Creek Rd Unit Multi, Phoenix, AZ

This home is located at 18202 N Cave Creek Rd Unit Multi, Phoenix, AZ 85032 since 14 February 2024. This property was built in 1983. 18202 N Cave Creek Rd Unit Multi 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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