BEDS20
BATHS
MLS#7091053
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONFOUNTAIN HILLS AZ 302A
SCHOOLFountain Hills Unified District
Property Description
Boardwalk Apartments at Fountain Park: 12-unit boutique courtyard community, a 1988 masonry office building taken to shell and converted to residential in 2025. 100% occupied, no concessions. $1,981 avg rent ($2.49/SF), a 55% premium to the Fountain Hills comp set. 5.12% cap on $224,979 owner-operated NOI. $366,250/unit, in line with the $366K median of 10 Phoenix-metro small MF sales since 1/2025. 20.7% expense ratio, owned solar array, poured concrete parking, all-new systems, in-unit W/D. No multifamily pipeline in supply-constrained Fountain Hills. OM available. Property owners are licensed real estate professionals in the State of Arizona. Connect with broker for an exterior property tour. Do not disturb tenants.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Evaporative Cooling, Electric, Ceiling Fan(s)
Heating: Electric, Solar
Roof Type: Foam
Taxes: $4,761
Year Built: 1988
Feature Descriptions
Community Features: No Pool, Manager Res/Office, See Remarks
Exterior: Wood Frame, Stucco, Stone
Parking: Free, Other, Paved, >1 Space Per Unit, Off Street
Sewer: Public Sewer
Water: Master Meter, City Franchise
Local Schools
High School: Fountain Hills High School
Middle School: Fountain Hills Middle School
Elementary School: McDowell Mountain Elementary School
School District: Fountain Hills Unified District
Listed By / Shown By
Listed By
Agency Name: Endless Ventures
Agency Phone: 602-315-7610
Shown By
Agent Name: Lisa Shevy
Agent Phone: (480) 309-4259
Agency Title: Arizona Best Real Estate
Estimate Your Payment
Estimated Payment
$ 11,459.99 per month $9,781.36 Principal & Interest $396.75 Property Tax $1,281.88 Homeowner's Insurance
12005 N Panorama Drive | MLS# 7091053
This multi-family property located at 12005 N Panorama Drive, Fountain Hills, AZ 85268 is currently listed for sale with an asking price of $4,395,000. N Panorama Drive is located within the Fountain Hills Unified District school district. Search Fountain Hills real estate on lshevy.arizonabest.com today.