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12005 N Panorama Drive, 
Fountain Hills, AZ 85268

$4,395,000


20

Beds


12

Baths


-

Sq Ft


Multi-Family


Virtual Tour

Active

Listed by

Jonathan Lee Green

Endless Ventures

602-315-7610

Last updated:

October 18, 2026, 06:45 PM

MLS#

7091053

Source:

ARMLS

About This Home

12005 N Panorama Drive

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.

Home Facts

Multi-Family

12 Baths

20 Bedrooms

Built in 1988

Subdivision & Development:

FOUNTAIN HILLS AZ 302A

Price Summary

4,395,000

MLS #:

7091053

Last Updated:

October 18, 2026, 06:45 PM


Rooms & Interior

Bedrooms

Total Bedrooms:

20

Bathrooms

Total Bathrooms:

12


Structure

Structure

Year Built:

1988


Finances & Disclosures

Finances

Price:

$4,395,000

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.