Courtesy of Matthews Real Estate Investment Services
Property Description
1017 -1031 E Fairmount is an 8-unit apartment community located in the highly desirable Midtown Phoenix submarket. Built in 1966, The unit mix consists of (3) 1×1 units, (3) 2×1 units, and (2) 2×1.5 units, with an average rent of $1,528. 6 of the 8 units have been fully renovated with thoughtful, durable improvements including luxury vinyl plank flooring, quartz countertops, workstation-style extra-wide sinks, mini range hoods, updated light fixtures, and refreshed bathrooms featuring new tubs, tile backsplash, and modern vanities. All units offering in-suite washer/dryer or dedicated W/D access. The property also features large private front and backyards, 3 private garages, 2 covered carport spaces, and lush landscaping. 6.03% cap rate on current financials.
Open House
Property Details and Features
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Property Access
- Road Surface: Asphalt
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Appliances & Equipment
- Built-In Range
- Disposal
- Dishwasher
- Refrigerator
- Microwave
- Washer/Dryer
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Bathrooms
- 8 total bathrooms
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Bedrooms
- 13 total bedrooms
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Building
- Built in 1964
- 3 buildings
- Construction Materials: Wood Frame, Painted, Block
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Community
- No Pool
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Cooling
- Electric
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Disclosures
- None
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Expenses
- Electric: $945
- Gardener: $4,324
- Insurance: $4,200
- Maintenance: $2,604
- Operating: $29,218
- Water/Sewer: $6,005
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Exterior Features
- Sidewalk(s)
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Floors
- Vinyl
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Heating
- Natural Gas
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Income
- Gross Income: $156,279
- Gross ScheduledIncome: $146,030
- Net Operating Income: $126,747
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Listing
- Listing ID: 6997176
- Standard Status: Active
- MLS Status: Active
- 177 days on market
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Location
- Subdivision: WEST IDLEWILDE
- County/Parish: Maricopa
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Lot
- Dimensions: 19533
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Owner Pays
- Trash Collection
- Water
- Sewer
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Parking
- 4 covered spaces
- 1 open parking spaces
- 5 total parking spaces
- On Street
- Carport
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Roof
- Composition
-
Schools
- Elementary School: Longview Elementary School
- Elementary School District: Osborn Elementary District
- Middle School: Longview Elementary School
- High School: North High School
- High School District: Phoenix Union High School District
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Sewer
- Sewer-In & Connected
- Public Sewer
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Taxes
- Additional parcels description:
- Parcel Number: 118-06-017-B
- Public Survey Range: 3E
- Public Survey Section: 28
- Annual Amount: $4,003
- Tax Book Number: 118.00
- Legal Description: WEST IDLEWILDE MCR 20-25 LOTS 1 3 & 5 BLK 2 & S 20F FAIRMOUNT AVE
- Lot: 1
- Parcel Letter: B
- Year: 2025
- Zoning: R-3
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Utilities
- Water Source: City Franchise
- APS
- Individual Meter
Property Map
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This content last updated on September 6, 2026 6:01AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.