$2,100,000
Phoenix, AZ 85014
MLS# 6997176
1 / 16
Property Description
1017 -1031 E Fairmount is an 8-unit apartment community located in the highly desirable Midtown Phoenix submarket. Built in 1966, The unit mix consists of (3) 1x1 units, (3) 2x1 units, and (2) 2x1.5 units, with an average rent of $1,528. 6 of the 8 units have been fully renovated with thoughtful, durable improvements including luxury vinyl plank flooring, quartz countertops, workstation-style extra-wide sinks, mini range hoods, updated light fixtures, and refreshed bathrooms featuring new tubs, tile backsplash, and modern vanities. All units offering in-suite washer/dryer or dedicated W/D access. The property also features large private front and backyards, 3 private garages, 2 covered carport spaces, and lush landscaping. 6.03% cap rate on current financials.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $2,100,000
List Price: $2,100,000
Status: Active
List Date: 2026-03-12
Location, Tax & Legal
Assessor's Map #: 6
Legal Description (Abbrev): WEST IDLEWILDE MCR 20-25 LOTS 1 3 & 5 BLK 2 & S 20F FAIRMOUNT AVE
Assessor's Parcel #: 17
Assessor Parcel Ltr: B
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 110600
Taxes: 4003
Tax District: 813
Legal: WEST IDLEWILDE MCR 20-25 LOTS 1 3 & 5 BLK 2 & S 20F FAIRMOUNT AVE
Marketing Name: Fairmount
House Number: 1021
Compass: E
Street Name: FAIRMOUNT
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85014
Zip4: 4806
County Code: Maricopa
Subdivision: WEST IDLEWILDE
Assessor Number: 118-06-017-B
Tax Year: 2025
General Property Description
# of Buildings: 3
Uncvrd Parking Spcs: 1
Lot Size Dimensions: 19533
Total # of Units: 8
Elementary School District: Osborn Elementary District
High School District: Phoenix Union High School District
Elementary School: Longview Elementary School
Jr. High School: Longview Elementary School
High School: North High School
Year Built: 1964
Zoning: R-3
Legal Info
Range: 3E
Section: 28
Township: 2N
Lot Number: 1
Project Type
5 - 12 Units: 1
Construction
Block: 1
Wood Frame: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 945
Annual Ins Exp: 4200
Annual Landscape Exp: 4324
Annual Maint Exp: 2604
Annual Mgmt Exp: 7137
Annual Wtr/Swr Exp: 6005
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 29218
Other Income: 10249
Vacancy Allowance: 0
Adjusted Gross Inc: 156279
Total Monthly Rental Income: 12225
Pmt & Rate Info
Cap Rate: 6.04
Equity: 2100000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Natural Gas: 1
Cooling
Electric: 1
Exterior Amenities
Landscape Water System: 1
Green Landscaping: 1
Fenced: 1
Sidewalk(s): 1
Patio/Balcony: 1
Separate Storage: 1
Interior Features
Unfurnished: 1
Tenant Pays
Gas: 1
Electricity: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Built-In Range: 1
Washer/Dryer: 1
Road Access Type
Dedicated Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Sewer-In & Connected: 1
Parking Features
Garage: 1
Carport: 1
On Street: 1
Electric
APS: 1
Individual Meter: 1
Gas
SW Gas: 1
Individual Meter: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Cash: 1
Conventional: 1
1031 Exchange: 1
Other (See Remarks): 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Non Assumable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 3
Avg Rent: 1325
Avg SqFt: 650
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 5
Avg Rent: 1680
Avg SqFt: 919
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: Camelback & 7th Street
Geo Lat: 33.492627
Geo Lon: -112.059942
Income Expenses
Gross Annual Sch Inc: 146030
Net Operating Income: 126747
Property Features
Project Type: 5 - 12 Units
Construction: Block; Wood Frame
Const - Finish: Painted
Roofing: Composition
Floors: Vinyl
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Landscape Water System; Green Landscaping; Fenced; Sidewalk(s); Patio/Balcony; Separate Storage
Interior Features: Unfurnished
Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer
Heating: Natural Gas
Cooling: Electric
Water Source: City Franchise
Sewer: Sewer - Public; Sewer-In & Connected
Electric: APS; Individual Meter
Gas: SW Gas; Individual Meter
Parking Features: Garage; Carport; On Street
Road Access Type: Dedicated Street
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity; Gas
Source of Fincl Data: Owner
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Non Assumable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Cash; Conventional; 1031 Exchange; Other (See Remarks)
Environmental: None
Listing Office: Matthews Real Estate Investment Services
Last Updated: March - 12 - 2026
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