Courtesy of Endless Ventures, Jonathan Lee Green Listing Contact: 602-315-7610
20 Beds
12 Baths
$4,395,000
12005 N PANORAMA Drive, Fountain Hills AZ, 85268
Built in1988
Property typeMulti-family
Overview
Active
Listed Oct 8, 2026
Updated 3 weeks ago
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.
Additional information
- MLS® ID
- 7091053
Interior Features
- Bedrooms
- 20
- Bathrooms
- 12
- Cooling
- Yes
- Heating
- Yes
- Basement
- No
Other Property Details
- Taxes
- $4,761
- Tax Frequency
- Annually
- Maintenance Expense
- $6,600
- Garage
- Yes
- Municipality
- 3N
Courtesy of Endless Ventures, Jonathan Lee Green
Listing Contact: 602-315-7610
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Data Last Updated: 3:23 AM UTC, 10/10/2026.
