12005 N PANORAMA Drive, Fountain Hills, AZ 85268
12005 N PANORAMA Drive, Fountain Hills, AZ 85268
12005 N PANORAMA Drive, Fountain Hills, AZ 85268
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Jose Reyes

Jose Reyes

+1(602) 903-8565
$4,395,000
Est. payment /mo
20 Beds
Save

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Subdivision Fountain Hills Az 302A

MLS Listing ID 7091053

Bedrooms 20

Maintenance Fees $6,600

Year Built 1988

Annual Tax Amount $4,761

Tax Year 2025

Lot Dimensions 150'x140'

Source Arizona Regional Multiple Listing Service (ARMLS)

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.

Location

State AZ

County Maricopa

Community Fountain Hills Az 302A

Area Maricopa

Zoning C-3

Direction At Saguaro Blvd and Panorama Drive head east on Panorama Drive to property.

Interior

Heating Solar, Electric

Cooling Ceiling Fan(s), Evaporative Cooling, Electric

Flooring Concrete

Appliance Dishwasher, Refrigerator, Free-Standing Electric Oven, Built-In Electric Oven, Microwave, Washer/Dryer

Exterior

Parking Features Off Street, Other, Paved, Free, >1 Space Per Unit

Community Features See Remarks, Manager Res/Office, No Pool

Roof Type Foam

Garage Yes

Private Pool No

Building

Sewer Public Sewer

Water Master Meter, City Franchise

New Construction No

Schools

Elementary Schools Mcdowell Mountain Elementary School

Middle Schools Fountain Hills Middle School

High Schools Fountain Hills High School

School District Fountain Hills Unified District

Others

Senior Community No

Tax ID 176-08-601-A

Ownership Fee Simple

Acceptable Financing Cash to Loan, Cash, No Carry, Conventional, 1031 Exchange

Disclosures Other (See Remarks)

Listing Terms Cash to Loan, Cash, No Carry, Conventional, 1031 Exchange

Read Less Info
Arizona Regional MLS (ARMLS)

Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

Listed by Endless Ventures • Jonathan Lee Green

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

Jose Reyes

Jose Reyes

+1(602) 903-8565

Team Lead License ID: SA685928000

Team Lead License ID: SA685928000

Name

Name

Phone*

Phone

Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from The Reyes Group, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.