18202 Cave Creek Road 5 units, Phoenix, AZ 85032

$625,000

Property Type: Multiple Dwellings Bedrooms: 5 Baths: 5 Status: Active

Current Price: $625,000 Last Modified: 8/06/2026

Overview

Description

5-UNIT VALUE-ADD INVESTMENT OPPORTUNITY | $625,000 | Approx. $125,000 Per Unit Small portfolio. Big opportunity.Terrace, offering investors an opportunity to acquire a manageable workforce housing portfolio with future flexibility. Each residence is a 1-bedroom plus den / 1-bath floor plan (the den functions as a bedroom but does not have a window) and includes its own washer and dryer. Priced at $625,000--approximately $125,000 per unit--this portfolio is well suited for investors looking to expand an existing rental portfolio or establish a meaningful presence in the Phoenix workforce housing market.The projected income profile offers attractive risk-adjusted return potential for investors who understand value-add opportunities and active portfolio management.This is an unwarrantable

Supplements: condominium community, making conventional residential financing challenging. The ideal purchaser will utilize commercial financing, cash, a 1031 Exchange, private capital, or other investment strategies appropriate for this type of asset. Investment Highlights: Individually deeded condominium ownership allowing future resale flexibility. Professio ... (Read more)

Listing Details MLS# 6770097

Location, Tax & Legal

House Number: 18202
Street Name: Cave Creek
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85032
Zip4: 1067
Country: US
County Code: Maricopa
Subdivision: MOUNTAIN SPRINGS TERRACE CONDOMINIUM
Assessor Number: 214-07-044
Tax Year: 2024
Unit #: 5 units
Assessor's Map #: 7
Legal Description (Abbrev): LOT 111 MOUNTAIN SPRINGS TERRACE CONDOMINIUM MCR 033448
Assessor's Parcel #: 44
Add'l Parcels: Yes
Tax Municipality: Phoenix
Taxes: 1800
Legal: To be provided in Escrow
Marketing Name: 5 - 2/1 Condos @ Mt Spr

Contract Info

Ownership: Condominium

General Property Description

Lot Size Dimensions: verify
Year Built: 1983
Total # of Units: 5
# of Buildings: 2
Zoning: R5
Flood Zone: TBD
Elementary School District: Paradise Valley Unified District
High School District: Paradise Valley Unified District
Elementary School: Echo Mountain Primary School
Jr. High School: Vista Verde Middle School
High School: North Canyon High School
Uncvrd Parking Spcs: 0

Remarks Misc

Cross Street: Cave Creek & Union Hills
Directions: South on Cave Creek to Michigan Ave. Complex will be on the Right.

Legal Info

Lot Number: 111,129,151,157,&251

1 Bedroom Units

# 1 Bedroom Units: 5
Avg Rent: 1279
Avg SqFt: 836
# Baths: Yes

More Information

Structure

Bedrooms Total: 5
Bathrooms Total: 5

Income Expenses

Gross Annual Sch Inc: 76740
Net Operating Income: 43140

Showing Notification Methods

Showing Service: Aligned Showings
Text: Yes
Email: Yes
Phone Call: Yes

Project Type

5 - 12 Units: Yes

Efficiency Units

Avg Rent: 0

2 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Other Type

Packaged Offering: Yes
Other (See Remarks): Yes

Construction

Wood Frame: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Built-Up: Yes

Floors

Vinyl: Yes

Sale Includes

Other (See Remarks): Yes

Income & Expenses

Annual Ins Exp: 3000
Annual Maint Exp: 3000
Annual Mgmt Exp: 3000
Owner Association: Yes
Annual Ownr Asoc Fee: 22500
Annual Other Expense: 300
Operating Exp: 33600
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 76740

Pmt & Rate Info

Cap Rate: 6.9
Equity: 625000
Down Payment %: 20
Monthly Payments: 0
Total Owed: 0

Lockbox Type

See Private Remarks: Yes

Community Features

Pool: Yes
Manager Res/Office: Yes
Barbecue: Yes

Heating

Electric: Yes
Individual: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes
Electric: Yes

Exterior Amenities

Landscape Water System: Yes
Desert Landscaping: Yes
Cable TV Available: Yes
Security Guard: Yes
Security Light(s): Yes

Interior Features

Fire/Smoke Alarm(s): Yes
Vertical Blinds: Yes
Mini Blinds: Yes
Breakfast Bar: Yes

Tenant Pays

Water: Yes
Electricity: Yes
Cable TV: Yes

Appliances Included

Dishwasher: Yes
Microwave: Yes
Refrigerator: Yes
Built-In Range: Yes
Washer/Dryer: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes
1 Space/Unit: Yes
>1 Space Per Unit: Yes
Paved: Yes
Other: Yes

Electric

APS: Yes

Gas

None: Yes

Owner Pays

Sewer: Yes
Trash Collection: Yes

New Financing

Cash: Yes
Owner May Carry: Yes
1031 Exchange: Yes

Special

Accept Backups (CLO): Yes

Existing 1st Loan

Private: Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

Property Features

Project Type: 5 - 12 Units Other Type: Packaged Offering; Other (See Remarks) Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Built-Up Floors: Vinyl Sale Includes: Other (See Remarks) Community Features: Pool; Manager Res/Office; Barbecue Exterior Amenities: Landscape Water System; Desert Landscaping; Cable TV Available; Security Guard; Security Light(s) Interior Features: Fire/Smoke Alarm(s); Vertical Blinds; Mini Blinds; Breakfast Bar Appliances Included: Built-In Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer Heating: Individual Cooling: Ceiling Fan(s); Electric; Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: None Parking Features: Carport; 1 Space/Unit; >1 Space Per Unit; Paved; Other Road Surface Type: Asphalt Owner Pays: Trash Collection Tenant Pays: Water; Electricity; Cable TV Source of Fincl Data: Owner Special: Accept Backups (CLO) Showing Notification Methods: Text; Email; Phone Call Lockbox Type: See Private Remarks Existing 1st Loan: Private New Financing: Cash; Owner May Carry; 1031 Exchange Environmental: None

Listing Office: Coldwell Banker Realty

Last Updated: August - 06 - 2026