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$4,395,000
10 Days On Site
12005 N PANORAMA DriveFountain Hills, AZ 85268
For Sale|Multi Family|Active
20
Beds
12
Total Baths
1988
Built
Subdivision:
FOUNTAIN HILLS AZ 302A
County:
Maricopa
Call Now: 602-377-6797
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602-377-6797
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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.
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Listing Snapshot
Price
$4,395,000
Days On Site
10 Days
Bedrooms
20
Inside Area (SqFt)
N/A
Total Baths
12
Full Baths
N/A
Partial Baths
N/A
Lot Size
N/A
Year Built
1988
MLS Number
7091053
Status
Active
Property Tax
$4,761
HOA/Condo/Coop Fees
N/A
Sq Ft Source
N/A
Friends & Family
Recent Activity
| 4 days ago | Listing updated with changes from the MLS | |
| 2 weeks ago | Listing first seen on site |
General Features
Cross Street
Saguaro BLVD & Panorama Drive
Disclosures
Other (See Remarks)
Garage
Yes
Parking
OtherPavedOff StreetGarage
Parking Spaces
28
Property Sub Type
Multi Family
Sewer
Public Sewer
Water Source
Public
Zoning
C-3
Interior Features
Appliances
RefrigeratorDishwasherMicrowaveWasher/DryerBuilt-In Electric OvenFree-Standing Electric Oven
Cooling
Central AirEvaporative CoolingElectricCeiling Fan(s)
Heating
Active SolarElectricSolar
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Exterior Features
Construction Details
BlockStucco
Roof
Foam
Community Features
School District
Fountain Hills Unified District
Township
3N
Financing Terms Available
Conventional1031 ExchangeCash
Roads
ConcreteGravel
Schools
School District
Fountain Hills Unified District
Elementary School
McDowell Mountain Elementary School
Middle School
Fountain Hills Middle School
High School
Fountain Hills High School
Listing courtesy of Endless Ventures.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved.
Last checked: 2026-10-19 10:26 AM UTC
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved.
Last checked: 2026-10-19 10:26 AM UTC
Neighborhood & Commute
Source: Walkscore
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