18202 Cave Creek Road Unit 5 units, Phoenix, AZ 85032
- $625,000
- 5
- BD
- 5
- BA
- List Price
- $625,000
- Price Change
- ▼ $75,000 1783645956
- Days on Market
- 666
- Status
- ACTIVE
- MLS#
- 6770097
- City
- Phoenix
- Bedrooms
- 5
- Bathrooms
- 5
- Subdivision
- Mountain Springs Terrace Condominium
- Year Built
- 1983
Property 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 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. Professionally managed HOA. Renovated units with in-unit washer and dryer. Strong workforce housing demand in North Phoenix. Covered parking, community pool, on-site management office, barbecue area and convenient freeway access. Attractive entry point at approximately $125,000 per unit. This portfolio offers investors an opportunity to own income-producing real estate with operational upside while maintaining a manageable five-unit footprint. If you're looking for a pristine institutional asset, this isn't it. If you're looking for cash flow, upside, and know how to operate Class C workforce housing, let's talk.
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Additional Information
- Elementary School
- Echo Mountain Primary School
- High School
- North Canyon High School
- Middle School
- Vista Verde Middle School
- Community Features
- Pool, Manager Res/Office, Barbecue
- Construction
- Wood Frame, Painted, Stucco
- Cooling
- Central Air, Electric, Ceiling Fan(s)
- Electric
- APS
- Heating
- Electric, Varies by Unit
- New Financing
- 1031 Exchange, Owner May Carry, Cash
- Parking Features
- 1 Space/Unit, Other, Paved, Carport, >1 Space Per Unit
- Roofing
- Built-Up
- Pool
- Yes
- Subdivision
- Mountain Springs Terrace Condominium
- Taxes
- $1,800
- Tax Year
- 2024
- Tenant Pays
- Water, Electricity, Cable TV
- Units
- 5
- Water
- City Franchise
- Zoning
- R5
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Listing courtesy of Coldwell Banker Realty.
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