18202 Cave Creek Road # 17units Phoenix, AZ $ 2,500,000
18202 Cave Creek Road # 17units
$ 2,500,000
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18202 Cave Creek Road # 17units

Phoenix, AZ, 85032
$ 2,500,000
Baths0.0

Monthly Estimate*

$ 15,597

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Studio

Multi-Family Home for sale in Phoenix, AZ

for $2,500,000. This home was built in 1983.

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 beds/1-bath, one-3 beds/1 bath, and eleven-3 beds /2 bath units. All are equipped with their own washer/dryer. The property is located in a Prime location with nearby amenities and great transportation access. Some bedroom counts includes a den (2 beds = 1 bedroom + den and 3 beds = 2 bedrooms + den). The den can function as a bedroom but doesn't have a window.

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Multi-Family Active

Price

$ 2,500,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 3,960

Style

Multiple Dwellings

Year Built

1983

Town/City

Phoenix

County/Region

Maricopa

MLS | Web ID

6770068

Features
General
Sewer Public Sewer
Heating Individual Electric
Cooling Central Air Ceiling Fan(s) Electric
Roof Built-Up
Zoning R5
Construction Materials Wood Frame Painted Stucco
Year Built 1983
Electric APS
Unit Number 17units
Tax Year 2024
Ownership Condominium Condominium
Gross Income 296400.0
Community Features Barbecue Manager Res/Office Pool
County Maricopa
Net Operating Income 193740.0
Operating Expense 102660.0
Insurance Expense 7200.0
Property Type Multiple Dwellings
Attached Garage N
MaintenanceExpense 6000.0
Subdivision Name MOUNTAIN SPRINGS TERRACE CONDOMINIUM
Garage Y/N N
Status Active
Directions South on Cave Creek to Michigan Ave. Complex will be on the Right.
High School North Canyon High School
City Phoenix
Disclosures None
High School District Paradise Valley Unified District
Open Parking Spaces 0.0
Number Of Units Total 17
Lot Size Square Feet 0.0
Carport Y/N N
Elementary School Echo Mountain Primary School
Tax Annual Amount 3960.0
Middle/Junior High School Vista Verde Middle School
Lease Renewal Y/N N
Additional Parcels Y/N Y
Lease Considered Y/N N
Rent Control Y/N N
Standard Status Active
Occupancy Type Tenant
Elementary School District Paradise Valley Unified District
Tax Lot 17 condos
Cap Rate 7.75
Senior Community N
New Financing: Cash True
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Interior
Flooring Vinyl
Air Conditioning Y/N Y
Heating Y/N Y
Total Baths 0
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Exterior
Parking Features Other >1 Space Per Unit 1 Space/Unit Carport
Water Source City Franchise
Total Parking 17.0
Lot Size Area 0.0
Number of Buildings 2
Spa N
Lot Dimensions unknown
Lot Size Acres 0.0
Covered Spaces 17.0
Crops Included Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 18202
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* Excluded Features
List By
Coldwell Banker Realty

Broker

eyeonsedona@gmail.com

Email

Affordability Calculator

$15,927
Per Month
98%
2%
0%
Monthly Principal & Interest
$15,597
Monthly Property Taxes
$330
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4327056 Elementary School
4328039 Middle School
North Canyon High School High School
Pricing History
DatePricePrice ChangeDescription
6/14/2025$2,500,000 -10.71% Price Down
1/27/2025$2,800,000 -7.89% Price Down
10/11/2024$3,040,000 Listed Price

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18202 Cave Creek Road # 17units, Phoenix, AZ, 85032 is a Multi-Family Home for sale at $2,500,000. 18202 Cave Creek Road # 17units is a studio with 0.0 baths and was built in 1983. The property's zip code is 85032 which is in Phoenix, AZ