Listing Details:
Listing ID: 7091053
Updated: 10/8/2026 10:54am
| Status | Active/For Sale |
| Days On Market | N/A |
| Taxes | $4,761.00 |
| HOA | N/A |
| Type | N/A |
| Open Parking | 28 |
| Year Built | 1988 |
| Lot Size | 0.00 |
| County | Maricopa |
| Listed By | Endless Ventures |
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.
School Information:
- McDowell Mountain Elementary School
- Fountain Hills Middle School
- Fountain Hills High School
Property Location:
Listed By: Endless Ventures | Jonathan Lee Green 602-315-7610
Source: ARMLS
All information should be verified by the recipient, and none is guaranteed as accurate by ARMLS.
