18202 Cave Creek Road 17units, Phoenix, AZ 85032

$2,125,000
Property Type: Multiple Dwellings Bedrooms: 29 Baths: 29 Status: Active
Current Price: $2,125,000 Last Modified: 10/13/2026

Overview

Description

17-UNIT VALUE-ADD WORKFORCE HOUSING PORTFOLIO | $2,125,000 | Approx. $125,000 Per Unit. Not every investor is the right buyer for this portfolio and that's exactly the point. This 17-unit workforce housing portfolio consists of individually deeded condominium units within Mountain Springs Terrace and is being offered as a single investment opportunity. The portfolio includes eleven 2-bedroom plus den/2-bath units, five 1-bedroom plus den/1-bath units, and one 3-bedroom/1-bath unit. (The den functions as a bedroom but does not have a window.) Offered at $2,125,000 approximately $125,000 per unit this is a value-add opportunity designed for investors who understand cash flow, operational improvements and long-term appreciation rather than turnkey perfection. The projected income profile

Supplements: offers the type of risk-adjusted return experienced investors often seek in workforce housing assets, recognizing that stronger returns typically accompany opportunities requiring active ownership and thoughtful management. This is an unwarrantable condominium community, making conventional residential financing challenging. The ideal purchaser wil ...

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

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

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

1 Bedroom Units

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

More Information

2 Bedroom Units

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

Structure

Bedrooms Total
29
Bathrooms Total
29

Income Expenses

Gross Annual Sch Inc
296400
Net Operating Income
193740

Showing Notification Methods

Showing Service
Aligned Showings

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
IDX
Listing Office: Coldwell Banker Realty
Office Phone: 928-282-4666
Office Email: rick.messerschmidt@azmoves.com
Last Updated: October - 13 - 2026
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