This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
1040 E Fairmount Ave
Phoenix, AZ 85014
Fairmont Eight · Multifamily Property For Sale
·
8 Units
PROPERTY FACTS
| No. Units | 8 | Building Size | 4,440 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1962/2019 |
| Building Class | C | Parking Ratio | 1.35/1,000 SF |
| Lot Size | 0.42 AC | ||
| Zoning | R-3, Phoenix | ||
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.42 AC |
| Building Size | 4,440 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1962/2019 |
| Parking Ratio | 1.35/1,000 SF |
| Zoning | R-3, Phoenix |
AMENITIES
UNIT AMENITIES
- Air Conditioning
SITE AMENITIES
- Laundry Facilities
ABOUT 1040 E FAIRMOUNT AVE , PHOENIX, AZ 85014
FAIRMOUNT EIGHT is an eight unit apartment community located in Midtown Phoenix with immediate access to the Phoenix VA Hospital, Xavier and Brophy College Prep Academies,, Central High School, the Redeveloped Park Central Mall and Creighton University Medical School. Developed in 1962, the property is comprised of studio, one-bedroom and two-bedroom floorplans - all of which have seen recent interior renovations. Six covered carports provide direct-access secure entry to a majority of the units. The one- and two bedroom floorplans have large private patios. Recent community improvements include resurfaced asphalt, back-patios, exterior paint and signage, desert landscape and fencing. Future ownership will have the opportunity to capitalize on bringing up units up to current market rents, adding a utility recapture or RUBS to increase other income and push market rents on all floorplans which are below renovated comparables in the area. Also, there is ample unused space in the back of the property which may present an opportunity to build additional units. Furthermore, residents are granted access to the thriving employment growth surrounding the Midtown, Downtown and Camelback Employment Corridors.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 4 | - | 360 |
| 1+1 | 2 | - | 700 |
| 2+1 | 2 | - | 800 |
PROPERTY TAXES
| Parcel Number | 118-03-026 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $27,104 |
PROPERTY TAXES
