18202 Cave Creek Road 17units, Phoenix, AZ 85032 (MLS# 6770068)

18202 Cave Creek Road 17units, Phoenix, AZ 85032

$2,380,000

Property Type: Multiple Dwellings Status: Active

Current Price: $2,380,000 Last Modified: 2/10/2026

Overview

Description

This property presents a compelling investment opportunity with its attractive unit mix, desirable location, and potential for additional income through owner-operated facilities. It is a well-positioned, income-generating asset. There are opportunities to even increase current rental income for further value. This property is a prudent choice for investors looking to expand, diversify or start their portfolio. It offers a stable and reliable income stream. The property is 100% occupied and all units were remodeled. There are five-2 beds/1-bath, one-3 beds/1 bath, and eleven-3 beds /2 bath units. All are equipped with their own washer/dryer. The property is located in a Prime location with nearby amenities and great transportation access.

Supplements: Some bedroom counts includes a den (2 beds = 1 bedroom + den and 3 beds = 2 bedrooms + den). The den can function as a bedroom but doesn't have a window.

Listing Details MLS# 6770068

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 #: 17units
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: 3960
Legal: To be provided in Escrow
Marketing Name: 17 condos @ Mt Springs

Contract Info

Ownership: Condominium

General Property Description

Lot Size Dimensions: unknown
Year Built: 1983
Total # of Units: 17
# 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: 17 condos

Income Expenses

Gross Annual Sch Inc: 296400
Net Operating Income: 193740

More Information

Showing Notification Methods

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

1 Bedroom Units

# 1 Bedroom Units: 5
Avg Rent: 1273
Avg SqFt: 836
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 12
Avg Rent: 1528
Avg SqFt: 836
# Baths: 2

Project Type

13 - 24 Units: Yes

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: 7200
Annual Maint Exp: 6000
Annual Mgmt Exp: 9000
Owner Association: Yes
Annual Ownr Asoc Fee: 76500
Operating Exp: 102660
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 296400
Total Monthly Rental Income: 24700

Pmt & Rate Info

Cap Rate: 7.75
Equity: 2500000
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

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
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

Efficiency Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 13 - 24 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; Other Road Surface Type: Asphalt Owner Pays: Trash Collection Tenant Pays: 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: February - 10 - 2026