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12005 N Panorama Drive, Fountain Hills, AZ 85268

Fountain Hills
Local realty services provided by:CENTURY 21 Toma Partners
12005 N Panorama Drive,Fountain Hills, AZ 85268
$4,395,000
Virtual Tour
  • 20 Beds
  • 12 Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: jonathan lee green
Office: endless ventures
MLS#:7091053
Source:ARMLS

Price summary

  • Price:$4,395,000

About this home

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.

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Home facts

  • Year built:1988
  • Subdivision & Development:FOUNTAIN HILLS AZ 302A
  • Listing ID #:7091053
  • Updated:October 20, 2026 at 03:39 PM

Rooms and interior

  • Bedrooms:20
  • Total bathrooms:12
  • Flooring:Concrete, Vinyl

Heating and cooling

  • Cooling:Ceiling Fan(s), Electric, Evaporative Cooling
  • Heating:Electric, Solar

Structure and exterior

  • Year built:1988
  • Construction Materials:Block, Stucco

Schools

  • High school:Fountain Hills High School
  • Middle school:Fountain Hills Middle School
  • Elementary school:McDowell Mountain Elementary School

Utilities

  • Water:City Franchise, Master Meter

Finances and disclosures

  • Price:$4,395,000
  • Tax amount:$4,761 (2025)

Parking

  • Total parking spaces:28
  • Parking description:Free Parking, More Than 1 Parking Space/Unit, Paved
  • Garage:Yes
MLS LogoAll information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved. ARMLS Member Broker: Benjamin Toma

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