18202 Cave Creek Road 5 units, Phoenix, AZ 85032

$625,000

Property Type: Multiple Dwellings Bedrooms: 5 Baths: 5 Status: Active

Current Price: $625,000 Last Modified: 11/02/2026

Overview

Description

5-UNIT VALUE-ADD INVESTMENT OPPORTUNITY | $625,000 | Approx. $125,000 Per Unit Small portfolio. Big opportunity.Terrace, offering investors an opportunity to acquire a manageable workforce housing portfolio with future flexibility. Each residence is a 1-bedroom plus den / 1-bath floor plan (the den functions as a bedroom but does not have a window) and includes its own washer and dryer. Priced at $625,000--approximately $125,000 per unit--this portfolio is well suited for investors looking to expand an existing rental portfolio or establish a meaningful presence in the Phoenix workforce housing market.The projected income profile offers attractive risk-adjusted return potential for investors who understand value-add opportunities and active portfolio management.This is an unwarrantable

Supplements: condominium community, making conventional residential financing challenging. The ideal purchaser will utilize commercial financing, cash, a 1031 Exchange, private capital, or other investment strategies appropriate for this type of asset. Investment Highlights: Individually deeded condominium ownership allowing future resale flexibility. Professio ... (Read more)

Listing Details MLS# 6770097

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: verify
Year Built: 1983
Total # of Units: 5
# 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: 111,129,151,157,&251

1 Bedroom Units

# 1 Bedroom Units: 5
Avg Rent: 1279
Avg SqFt: 836
# Baths: Yes

More Information

Structure

Bedrooms Total: 5
Bathrooms Total: 5

Income Expenses

Gross Annual Sch Inc: 76740
Net Operating Income: 43140

Showing Notification Methods

Showing Service: Aligned Showings

Property Features

Project Type: 5 - 12 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; Paved; Other Road Surface Type: Asphalt Owner Pays: Trash Collection Tenant Pays: Water; 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

Office Phone: 928-282-4666

Office Email: rick.messerschmidt@azmoves.com

Last Updated: November - 02 - 2026