Property Attributes
- MLS#6663975
- TypePending
- CountyMARICOPA
- CityPhoenix
- NeighborhoodMOUNTAIN SPRINGS TERRACE CONDOMINIUM
- Zip85032
- StyleMultiple Dwellings
- Year Built1983
- Taxes$ 248
- Price$ 1,480,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
Data Source:
Arizona Regional MLS (ARMLSN)
Property Description
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 comfortable and enticing living space for current and potential tenants. Nestled in a prime location 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...
Elementary School | Middle School | High School |
---|---|---|
Echo Mountain Primary School Elementary School | Vista Verde Middle School | North Canyon High School |
Price History | |
---|---|
2/15/2024 | Listed $1,520,000 |
4/4/2024 | 3% - $1,480,000 |
General Features
Sewer | Public Sewer |
---|---|
Heating | Electric |
Cooling | Central A/C,Electric |
Roof | Foam |
Zoning | MF |
Construction Materials | Painted,Stucco,Frame - Wood |
Year Built | 1983 |
Electric | APS |
Tenant Pays | Electricity,Cable TV |
Township | 4N |
Unit Number | MULTI |
Tax Year | 2023 |
Percent Ownership | Condominium |
Gross Income | 0.0 |
OwnerPays | See Remarks |
Community Features | Pool |
County | Maricopa |
Net Operating Income | 102200.0 |
Operating Expense | 43368.0 |
Insurance Expense | 4090.0 |
Property Type | Multiple Dwellings |
Attached Garage | No |
MaintenanceExpense | 600.0 |
Subdivision Name | MOUNTAIN SPRINGS TERRACE CONDOMINIUM |
Garage Y/N | No |
Status | Pending |
Directions | South on Cave Creek to Michigan Ave. Complex will be on the right. |
High School | North Canyon High School |
City | Phoenix |
Buyer Agent Compensation | 2.00 |
Disclosures | Seller Prop Disc Stm |
View Y/N | No |
High School District | Paradise Valley Unified District |
Open Parking Spaces | 1.0 |
Total Units | 8 |
Lot Size Square Feet | 0.0 |
Carport Y/N | No |
Street Name | CAVE CREEK |
Elementary School | Echo Mountain Primary School |
Tax Annual Amount | 248.0 |
Current Financing | Non Assumable |
Middle/Junior High School | Vista Verde Middle School |
Lease Renewal Y/N | No |
Additional Parcels Y/N | No |
Lease Considered Y/N | No |
Rent Control Y/N | No |
Days on Market | 161 |
Standard Status | Pending |
Occupancy Type | Tenant |
Elementary School District | Paradise Valley Unified District |
Tax Lot | 119 |
Cap Rate | 6.72 |
MobileHomeRemainsYN | No |
Buyer Agent Compensation Type | % |
New_sp_Financing_co_Conventional5 | True |
Ownership | Condominium |
Senior Community | No |
Interior Features
Flooring | Vinyl |
---|---|
Air Conditioning Y/N | Yes |
Heating Y/N | Yes |
Street Suffix | Road |
Electric On Property Y/N | No |
Exterior Features
Parking Features | Other (See Remarks),Assigned,Add'l Parking Avail,1 Space/Unit,Common |
---|---|
Water Source | City Franchise |
Total Parking | 9.0 |
Lot Size Area | 0.0 |
Number of Buildings | 1 |
Spa | No |
Lot Dimensions | Unknown |
Lot Size Acres | 0.0 |
Road Surface Type | Asphalt |
Covered Spaces | 8.0 |
Crops Included Y/N | No |
Open Parking Y/N | No |
Irrigation Water Rights Y/N | No |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool