$4,995,000
Phoenix, AZ 85041
MLS# 6968385
1 / 13
Property Description
11 individual homes sold in bulk built in 2024. Nice community with 2 pocket parks. All homes have 2 car garages. Located near the new light rail line extension on Central Ave. AS of now, 8 homes are leased, self-managed by the owner. Owner maintains the common areas and provides quarterly exterior pest control. Buyer to verify all information.
Details
Contract Info
Ownership: Fee Simple
Current Price: $4,995,000
List Price: $4,995,000
Status: Active
List Date: 2026-01-14
Location, Tax & Legal
Assessor's Map #: 40
Legal Description (Abbrev): LOT 1 LATONA FONTAINE MCR
Assessor's Parcel #: 524
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 116702
Taxes: 330
Legal: LOT 1 LATONA FONTAINE MCR
Marketing Name: Latona Fontaine
House Number: 141
Compass: W
Street Name: LATONA
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85041
Zip4: 8152
County Code: Maricopa
Subdivision: LATONA FONTAINE
Assessor Number: 300-40-524
Tax Year: 2025
General Property Description
# of Buildings: 11
Uncvrd Parking Spcs: 0
Lot Size Dimensions: Irregular
Total # of Units: 11
Elementary School District: Roosevelt Elementary District
High School District: Phoenix Union High School District
Year Built: 2025
Zoning: Residential
Legal Info
Range: 3E
Section: 5
Township: 1S
Lot Number: 1
Project Type
5 - 12 Units: 1
Other (See Remarks): 1
Other Type
Packaged Offering: 1
Construction
Wood Frame: 1
Const - Finish
Stucco: 1
Construction Status
New Construction: 1
Roofing
Composition: 1
Foam: 1
See Remarks: 1
Floors
Laminate: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 60
Annual Ins Exp: 10643
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Other Expense: 12100
Operating Exp: 23133
Other Income: 0
Vacancy Allowance: 0.02
Adjusted Gross Inc: 277053.84
Total Monthly Rental Income: 23559
Pmt & Rate Info
Cap Rate: 5.09
Equity: 4995000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Non-MLS Showing Service - See Private Remarks
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Electric: 1
Exterior Amenities
Landscape Water System: 1
Tenant Pays
Electricity: 1
Appliances Included
Built-In Range: 1
Other: 1
See Remarks: 1
Road Access Type
Dedicated Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Road Responsibility
City Maintained Road: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Garage: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
See Remarks: 1
New Financing
Cash: 1
Conventional: 1
Owner May Carry: 1
Reports/Disclosures
Other (See Remarks): 1
Environmental
Other (See Remarks): 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
# 3 Bedroom Units: 3
Avg Rent: 1967
Avg SqFt: 1388
# Baths: 2
4 Bedrooms Units
# 4 Bedroom Units: 8
Avg Rent: 2458
Avg SqFt: 1708
# Baths: 3
Remarks Misc
Cross Street: Baseline and 7th Ave
Directions: South from Baseline Rd. on 7th Ave to Gary Way. East to 5th Ave. South to Beverly Rd. East to 2nd Dr. South to Latona then east to the 11 new homes.
Geo Lat: 33.372055
Geo Lon: -112.076702
Income Expenses
Gross Annual Sch Inc: 282708
Net Operating Income: 254251
Property Features
Project Type: 5 - 12 Units; Other (See Remarks)
Other Type: Packaged Offering
Construction: Wood Frame
Const - Finish: Stucco
Construction Status: New Construction
Roofing: Composition; Foam; See Remarks
Floors: Laminate
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Landscape Water System
Appliances Included: Built-In Range; Other; See Remarks
Cooling: Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: Garage
Road Access Type: Dedicated Street
Road Surface Type: Asphalt
Road Responsibility: City Maintained Road
Owner Pays: Water; Trash Collection; See Remarks
Tenant Pays: Electricity
Source of Fincl Data: Owner
Lockbox Type: None
New Financing: Cash; Conventional; Owner May Carry
Environmental: Other (See Remarks)
Listing Office: City to City Commercial
Last Updated: January - 14 - 2026
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