12005 N PANORAMA Drive Fountain Hills, AZ $ 4,395,000
12005 N PANORAMA Drive
$ 4,395,000
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12005 N PANORAMA Drive

Fountain Hills, AZ, 85268
$ 4,395,000
Bedrooms20 Baths0.0

Monthly Estimate*

$ 30,355

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Multi-Family Home for sale in Fountain Hills, AZ

for $4,395,000 with 20 bedrooms. This home was built in 1988.

Boardwalk Apartments at Fountain Park: 12-unit boutique courtyard community, a 1988 masonry office building taken to shell and converted to residential in 2025. 100% occupied, no concessions. $1,981 avg rent ($2.49/SF), a 55% premium to the Fountain Hills comp set. 5.12% cap on $224,979 owner-operated NOI. $366,250/unit, in line with the $366K median of 10 Phoenix-metro small MF sales since 1/2025. 20.7% expense ratio, owned solar array, poured concrete parking, all-new systems, in-unit W/D. No multifamily pipeline in supply-constrained Fountain Hills. OM available. Property owners are licensed real estate professionals in the State of Arizona. Connect with broker for an exterior property tour. Do not disturb tenants.

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Multi-Family Active

Price

$ 4,395,000

Bedrooms

20

Property Type

Multi-Family

Taxes

$ 4,761

Style

Multiple Dwellings

Year Built

1988

Town/City

Fountain Hills

County/Region

Maricopa

MLS | Web ID

7091053

Features
General
Sewer Public Sewer
Heating Solar Electric
Cooling Ceiling Fan(s) Evaporative Cooling Electric
Roof Foam
Zoning C-3
Security Features Fire Sprinklers
Construction Materials Stucco Block
Year Built 1988
Electric Individual Meter
Township 3N
Tax Year 2025
Ownership Fee Simple Fee Simple
Gross Income 297540.0
Community Features See Remarks Manager Res/Office No Pool
County Maricopa
Net Operating Income 261865.0
Operating Expense 42275.0
Insurance Expense 6293.0
New Construction N
Property Type Multiple Dwellings
Attached Garage N
MaintenanceExpense 6600.0
Subdivision Name FOUNTAIN HILLS AZ 302A
Garage Y/N Y
Status Active
Directions At Saguaro Blvd and Panorama Drive head east on Panorama Drive to property.
High School Fountain Hills High School
City Fountain Hills
Disclosures Other (See Remarks)
High School District Fountain Hills Unified District
Open Parking Spaces 28.0
Number Of Units Total 12
Carport Y/N N
Elementary School McDowell Mountain Elementary School
Tax Annual Amount 4761.0
Electric Expense 2568.0
Middle/Junior High School Fountain Hills Middle School
Trash Expense 1475.0
Water Sewer Expense 5760.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Standard Status Active
Occupancy Type Tenant
Elementary School District Fountain Hills Unified District
Tax Lot 13
Cap Rate 5.96
New Financing: Conventional True
Senior Community N
New Financing: Cash True
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Interior
Flooring Vinyl Concrete
Air Conditioning Y/N Y
Heating Y/N Y
Total Bedrooms 20
Total Baths 12
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Exterior
Parking Features Off Street Other Paved Free >1 Space Per Unit
Water Source Master Meter City Franchise
Total Parking 28.0
Number of Buildings 2
Spa N
Lot Dimensions 150'x140'
Road Surface Type Concrete Gravel
Covered Spaces 0.0
Crops Included Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 12005
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* Excluded Features
List By
Endless Ventures

Broker

Jon@Endless-Ventures.com

Email

Affordability Calculator

$30,752
Per Month
99%
1%
0%
Monthly Principal & Interest
$30,355
Monthly Property Taxes
$397
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.375% 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
4328211 Elementary School
4327096 Middle School
Fountain Hills High School High School
Pricing History
DatePricePrice ChangeDescription
10/8/2026$4,395,000 Listed Price

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12005 N PANORAMA Drive, Fountain Hills, AZ, 85268 is a Multi-Family Home for sale at $4,395,000. 12005 N PANORAMA Drive has 20 bedrooms, 0.0 baths, and was built in 1988. The property's zip code is 85268 which is in Fountain Hills, AZ