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18202 Cave Creek Road 17units, Phoenix, AZ 85032
Overview
Description
Supplements: ... (Read more) 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 will be an experienced investor utilizing commercial financing, cash, a 1031 Exchange, private capital, or other investment strategies appropriate for this asset class. Many units have been renovated over time, and every residence includes its own washer and dryer an amenity that continues to attract long-term tenants. The community offers covered parking, a swimming pool, on-site management office, barbecue area, and convenient access to major employment corridors, shopping, Loop 101, SR-51, and public transportation. Investment Highlights: Individually deeded condominium ownership providing long-term ownership flexibility and multiple future exit strategies. Professionally managed HOA. Continued capital improvements and ongoing maintenance demonstrate proactive ownership. Strong demand for workforce housing in an established North Phoenix rental market. Every residence includes an in-unit washer and dryer. Attractive basis at approximately $125,000 per unit. This is not a passive investment. It is a portfolio built for investors who understand Class C workforce housing, recognize value-add opportunities, and appreciate the balance between operational involvement and long-term income potential. 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.
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