$8,000,000
Phoenix, AZ 85040
MLS# 7001746
1 / 70
Property Description
Rare opportunity to own a brand new property! The finishes are higher quality and made to last as a rental property. Kitchens feature stainless steel appliances and quartz counter tops. Units can be 3 bedroom & 2 baths, and some are 4 bedroom & 2 baths and occupied as CoLiving units with Padsplit. This property has multiple uses as long-term rentals, Coliving, or even condominiums. Each unit is individual parceled to allow for the possibility of multiple owners.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $8,000,000
List Price: $8,000,000
Status: Active
List Date: 2026-03-18
Location, Tax & Legal
Assessor's Map #: 25
Legal Description (Abbrev): LOT 101 VILLAS AT 12TH STREET CONDOMINIUMS MCR 177936
Assessor's Parcel #: 49
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 115300
Taxes: 178
Legal: LOT 101 VILLAS AT 12TH STREET CONDOMINIUMS MCR 177936
Marketing Name: Villas at 12th Street
House Number: 4037
Compass: S
Street Name: 12th
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85040
County Code: Maricopa
Subdivision: VILLAS AT 12TH STREET CONDOMINIUMS
Assessor Number: 113-25-049
Tax Year: 2025
General Property Description
# of Buildings: 12
Uncvrd Parking Spcs: 5
Lot Size Dimensions: 337X164
Total # of Units: 24
Year Built: 2025
Zoning: R3
Legal Info
Range: 3E
Section: 21
Township: 1N
Lot Number: 101
Project Type
13 - 24 Units: 1
Construction
Wood Frame: 1
Const - Finish
Stucco: 1
Roofing
Foam: 1
Floors
Laminate: 1
Sale Includes
Land & Building: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 178
Other Income: 0
Vacancy Allowance: 5
Adjusted Gross Inc: 3337008
Pmt & Rate Info
Cap Rate: 9.71
Equity: 8000000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
Supra: 1
Community Features
Barbecue: 1
Other: 1
Heating
Heat Pump: 1
Cooling
Heat Pump: 1
Interior Features
Vertical Blinds: 1
Tenant Pays
Electricity: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Free-Standing Electric Oven: 1
Microwave: 1
Refrigerator: 1
Washer/Dryer: 1
Road Access Type
City Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Road Responsibility
City Maintained Road: 1
Water Source
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
>1 Space Per Unit: 1
Electric
APS: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Cash: 1
Conventional: 1
No Carry: 1
1031 Exchange: 1
Existing 1st Loan
Treat as Free&Clear: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
# 3 Bedroom Units: 8
Avg Rent: 1750
Avg SqFt: 1120
# Baths: 2
4 Bedrooms Units
# 4 Bedroom Units: 16
Avg Rent: 3600
Avg SqFt: 1120
# Baths: 2
Remarks Misc
Cross Street: 7th Street & Broadway
Directions: Head East on Broadway from 7th Street, Go North on 12th Street to property.
Geo Lat: 33.409225
Geo Lon: -112.055295
Income Expenses
Gross Annual Sch Inc: 834252
Net Operating Income: 776892
Property Features
Project Type: 13 - 24 Units
Construction: Wood Frame
Const - Finish: Stucco
Roofing: Foam
Floors: Laminate
Sale Includes: Land & Building
Community Features: Barbecue; Other
Interior Features: Vertical Blinds
Appliances Included: Free-Standing Electric Oven; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer
Heating: Heat Pump
Cooling: Heat Pump
Water Source: Master Meter
Sewer: Sewer - Public
Electric: APS
Gas: None
Parking Features: Carport; >1 Space Per Unit
Road Access Type: City Street
Road Surface Type: Asphalt
Road Responsibility: City Maintained Road
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity
Source of Fincl Data: Owner
Lockbox Type: Supra
Existing 1st Loan: Treat as Free&Clear
New Financing: Cash; Conventional; No Carry; 1031 Exchange
Environmental: None
Listing Office: FSR Realty
Last Updated: March - 20 - 2026
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