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
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.
More Information MLS# 6770068
Contract Info
Current Price: $2,380,000
List Price: $2,380,000
Status: Active
List Date: 2024-10-09
Ownership: Condominium
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
County Code: Maricopa
Subdivision: MOUNTAIN SPRINGS TERRACE CONDOMINIUM
Assessor Number: 214-07-044
Tax Year: 2024
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.
Geo Lat: 33.651769
Geo Lon: -112.031815
Legal Info
Lot Number: 17 condos
Income Expenses
Gross Annual Sch Inc: 296400
Net Operating Income: 193740
Showing Notification Methods
Showing Service: Aligned Showings
1 Bedroom Units
# 1 Bedroom Units: 5
Avg Rent: 1273
Avg SqFt: 836
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 12
Avg Rent: 1528
Avg SqFt: 836
# Baths: 2
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
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