12005 N PANORAMA Drive
Fountain Hills, AZ 85268
About
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
Beds
20
Full Baths
None
1/2 Baths
None
Year Built
1988
Sq.Footage
N/A
Features
Features & Amenities
Interior
-
Total Bedrooms
20
-
Bathrooms
N/A
-
Cooling YN
YES
-
Cooling
Central Air, Evaporative Cooling, Electric, Ceiling Fan(s)
-
Heating YN
YES
-
Heating
Active Solar, Electric, Solar
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Block, Stucco
-
Parking
Other, Paved, Off Street, Garage
-
Pool
No
Area & Lot
-
Property Type
Residential Income
-
Property Sub Type
Multi Family
Price
-
Sales Price
$4,395,000
-
Tax Amount
$4,761
-
Financing Options
Conventional, 1031 Exchange, Cash
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
Fountain Hills Unified District
-
Middle School
Fountain Hills Middle School
-
High School
Fountain Hills High School
Property Features
-
Ownership
Fee Simple
-
Sewer
Public Sewer
-
Tax Lot
13
-
Water Source
Public
Schedule
Schedule a Showing
Showing scheduled successfully.
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Location
-
County
Maricopa
-
Elementary School
Fountain Hills Unified District
-
Middle School
Fountain Hills Middle School
-
High School
Fountain Hills High School
Listing Courtesy of Jonathan Lee Green, Endless Ventures
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Mandy Gold
Associate Broker / Realtor®/ Team Lead
Call Mandy today to schedule a private showing.
Phone (520) 508-4855
Email mandy@mandygoldteam.com
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