1016 E FAIRMOUNT Avenue, Phoenix, AZ 85014
$1,000,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$1,000,000
Last Modified:
12/22/2025
Description
Must be sold with the 3 other parcels. Herradura Villas (Fourplex) has undergone a comprehensive renovation with no detail overlooked and sitting on +-.4 acres. Each unit is 1-bedroom, 1-bathroom units boasts high-end finishes and thoughtful upgrades, including brand-new roofs, tankless water heaters, new sewer and water lines, smooth synthetic stucco with foam backing, upgraded electrical systems and panels, modern kitchen cabinetry, flooring, and bathrooms. All permitted with certificates of Occupancy. Each unit is individually metered for electricity and gas, while each building is individually metered for water.
All buildings at the property have received extensive infrastructure upgrades, making this community a turn-key, low-maintenance investment.
More Information MLS# 6900050
Contract Info
Ownership: Fee Simple
Current Price: $1,000,000
List Price: $1,000,000
Status: Active
List Date: 2025-07-25
Location, Tax & Legal
Assessor's Map #: 3
Legal Description (Abbrev): LOT 26 KAY TRACT MCR 001313
Assessor's Parcel #: 32
Assessor Parcel Ltr: A
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 110600
Taxes: 2255
Legal: LOT 26 KAY TRACT MCR 001313
Marketing Name: Herradura Villas Fourplex
House Number: 1016
Compass: E
Street Name: FAIRMOUNT
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85014
Zip4: 4829
County Code: Maricopa
Subdivision: KAY TRACT
Assessor Number: 118-03-032-A
Tax Year: 2024
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 10
Lot Size Dimensions: 66.07x280.76x63.08x283.85
Total # of Units: 4
Elementary School District: Osborn Elementary District
High School District: Phoenix Union High School District
Year Built: 1963
Zoning: R-3
Legal Info
Range: 3E
Section: 28
Township: 2N
Lot Number: 26
Project Type
Duplex: 1
Four Plex: 1
Construction
Block: 1
Const - Finish
Stucco: 1
Roofing
Foam: 1
Floors
Vinyl: 1
Sale Includes
Building(s) Only: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 2255
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 65892
Pmt & Rate Info
Cap Rate: 5.47
Equity: 1000000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Text: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Ceiling: 1
Individual: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Individual: 1
Exterior Amenities
Landscape Water System: 1
Desert Landscaping: 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Tenant Pays
Gas: 1
Electricity: 1
Appliances Included
Built-In Gas Oven: 1
Dishwasher: 1
Microwave: 1
Refrigerator: 1
Washer/Dryer: 1
W/D Hookup: 1
Road Surface Type
Asphalt: 1
Gravel: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Water Source
City Franchise: 1
Individual Meter: 1
Sewer
Sewer - Public: 1
Parking Features
On Street: 1
>1 Space Per Unit: 1
Electric
APS: 1
Individual Meter: 1
Gas
SW Gas: 1
Individual Meter: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Cash: 1
VA: 1
Conventional: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 4
Avg Rent: 1445
Avg SqFt: 600
# Baths: 1
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Geo Lat: 33.493372
Geo Lon: -112.060351
Income Expenses
Gross Annual Sch Inc: 69360
Net Operating Income: 54725
Property Features
Project Type: Duplex; Four Plex
Construction: Block
Const - Finish: Stucco
Roofing: Foam
Floors: Vinyl
Sale Includes: Building(s) Only
Community Features: No Pool
Exterior Amenities: Landscape Water System; Desert Landscaping
Interior Features: Unfurnished; Fire/Smoke Alarm(s)
Appliances Included: Built-In Gas Oven; Refrigerator; Dishwasher; Microwave; Washer/Dryer; W/D Hookup
Heating: Ceiling; Individual
Cooling: Ceiling Fan(s); Individual; Central Air
Water Source: City Franchise; Individual Meter
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: SW Gas; Individual Meter
Parking Features: On Street; >1 Space Per Unit
Road Surface Type: Gravel; Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Gas
Source of Fincl Data: Owner; Projected Proforma
Showing Notification Methods: Text
Lockbox Type: None
New Financing: Cash; VA; Conventional
Environmental: None
Listing Office:
ABI Multifamily
Last Updated: December - 22 - 2025
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