1021 E FAIRMOUNT Avenue, Phoenix, AZ 85014 (MLS# 6997176)

1021 E FAIRMOUNT Avenue, Phoenix, AZ 85014

$1,950,000

Property Type: Multiple Dwellings Status: Active

Current Price: $1,950,000 Last Modified: 4/27/2026

Overview

Description

1017 -1031 E Fairmount is an 8-unit apartment community located in the highly desirable Midtown Phoenix submarket. Built in 1966, The unit mix consists of (3) 1x1 units, (3) 2x1 units, and (2) 2x1.5 units, with an average rent of $1,528. 6 of the 8 units have been fully renovated with thoughtful, durable improvements including luxury vinyl plank flooring, quartz countertops, workstation-style extra-wide sinks, mini range hoods, updated light fixtures, and refreshed bathrooms featuring new tubs, tile backsplash, and modern vanities. All units offering in-suite washer/dryer or dedicated W/D access. The property also features large private front and backyards, 3 private garages, 2 covered carport spaces, and lush landscaping. 6.03% cap rate on current financials.

Listing Details MLS# 6997176

Location, Tax & Legal

House Number: 1021
Compass: E
Street Name: FAIRMOUNT
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85014
Zip4: 4806
Country: US
County Code: Maricopa
Subdivision: WEST IDLEWILDE
Assessor Number: 118-06-017-B
Tax Year: 2025
Assessor's Map #: 6
Legal Description (Abbrev): WEST IDLEWILDE MCR 20-25 LOTS 1 3 & 5 BLK 2 & S 20F FAIRMOUNT AVE
Assessor's Parcel #: 17
Assessor Parcel Ltr: B
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 110600
Taxes: 4003
Tax District: 813
Legal: WEST IDLEWILDE MCR 20-25 LOTS 1 3 & 5 BLK 2 & S 20F FAIRMOUNT AVE
Marketing Name: Fairmount

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 19533
Year Built: 1964
Uncvrd Parking Spcs: Yes
Total # of Units: 8
# of Buildings: 3
Zoning: R-3
Elementary School District: Osborn Elementary District
High School District: Phoenix Union High School District
Elementary School: Longview Elementary School
Jr. High School: Longview Elementary School
High School: North High School

Remarks Misc

Cross Street: Camelback & 7th Street

Legal Info

Township: 2N
Range: 3E
Section: 28
Lot Number: Yes

Income Expenses

Gross Annual Sch Inc: 146030
Net Operating Income: 126747

More Information

Showing Notification Methods

Showing Service: No Showing Service Used

1 Bedroom Units

# 1 Bedroom Units: 3
Avg Rent: 1325
Avg SqFt: 650
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 5
Avg Rent: 1680
Avg SqFt: 919
# Baths: Yes

Project Type

5 - 12 Units: Yes

Construction

Block: Yes
Wood Frame: Yes

Const - Finish

Painted: Yes

Roofing

Composition: Yes

Floors

Vinyl: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Annual Elec Exp: 945
Annual Ins Exp: 4200
Annual Landscape Exp: 4324
Annual Maint Exp: 2604
Annual Mgmt Exp: 7137
Annual Wtr/Swr Exp: 6005
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 29218
Other Income: 10249
Vacancy Allowance: 0
Adjusted Gross Inc: 156279
Total Monthly Rental Income: 12225

Pmt & Rate Info

Cap Rate: 6.04
Equity: 2100000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Natural Gas: Yes

Cooling

Electric: Yes

Exterior Amenities

Landscape Water System: Yes
Green Landscaping: Yes
Fenced: Yes
Sidewalk(s): Yes
Patio/Balcony: Yes
Separate Storage: Yes

Interior Features

Unfurnished: Yes

Tenant Pays

Gas: Yes
Electricity: Yes

Appliances Included

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

Road Access Type

Dedicated Street: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes
Sewer-In & Connected: Yes

Parking Features

Garage: Yes
Carport: Yes
On Street: Yes

Electric

APS: Yes
Individual Meter: Yes

Gas

SW Gas: Yes
Individual Meter: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes

New Financing

Cash: Yes
Conventional: Yes
1031 Exchange: Yes
Other (See Remarks): Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Not Applicable: Yes

Existing 1st Loan Terms

Non Assumable: Yes

Existing 2nd Loan

Treat as Free&Clear: Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Treat as Free&Clear: Yes

Existing 3rd Loan Type

Not Applicable: Yes

Reports/Disclosures

None: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

Efficiency Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 5 - 12 Units Construction: Block; Wood Frame Const - Finish: Painted Roofing: Composition Floors: Vinyl Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Landscape Water System; Green Landscaping; Fenced; Sidewalk(s); Patio/Balcony; Separate Storage Interior Features: Unfurnished Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer Heating: Natural Gas Cooling: Electric Water Source: City Franchise Sewer: Sewer - Public; Sewer-In & Connected Electric: APS; Individual Meter Gas: SW Gas; Individual Meter Parking Features: Garage; Carport; On Street Road Access Type: Dedicated Street Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity; Gas Source of Fincl Data: Owner Lockbox Type: None Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Non Assumable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Cash; Conventional; 1031 Exchange; Other (See Remarks) Environmental: None

Listing Office: Matthews Real Estate Investment Services

Last Updated: April - 27 - 2026