1021 E FAIRMOUNT Avenue, Phoenix, AZ 85014

$1,895,000

Property Type: Multiple Dwellings Bedrooms: 13 Baths: 8 Status: Active

Current Price: $1,895,000 Last Modified: 10/15/2026

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

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

1 Bedroom Units

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

More Information

2 Bedroom Units

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

Structure

Bedrooms Total: 13
Bathrooms Total: 8

Income Expenses

Gross Annual Sch Inc: 146030
Net Operating Income: 126747

Showing Notification Methods

Showing Service: No Showing Service Used

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

Office Phone: 310-388-0788

Office Email: david.harrington@matthews.com

Last Updated: October - 15 - 2026