6824 E 4TH Street, Scottsdale, AZ 85251

$4,051,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $4,051,000 Last Modified: 6/03/2020

Description

***38-U PORTFOLIO SALE: CAN BE ACQUIRED SEPARATELY (MLS#5814726- Royal Palms)*** OUTSTANDING LOCATION! Unique 26-unit boutique garden apt complex within highly desirable Downtown Scottsdale (DTS). R-5 and in DT Overlay for REDEVELOPMENT. Each unit individually metered for electric and with separate HVAC. Situated on a quiet 1+ acre cul-de-sac parcel, within walking distance to DTS Jobs, Restaurants, Shops, and Entertainment District. The property offers residents Spacious Floor Plans, Lush Landscaping, Beautiful Pool, and Covered Parking. VERY FEW MF OFFERINGS IN DTS, an INCREDIBLE OPPORTUNITY to acquire a Well-Maintained 38-unit Portfolio with Rental Upside (Shalimar 10-unit LURA in place until APR 2024; Royal 8-unit LURA in place until May 202

More Information MLS# 5814645

Contract Info

Ownership: Fee Simple Current Price: $4,051,000 Sold Price: $4,051,000 Status: Closed List Date: 2018-08-31

Location, Tax & Legal

Assessor's Map #: 10 Legal Description (Abbrev): LOT 3 AZURA SCOTTSDALE MCR 007710 Assessor's Parcel #: 37 Assessor Parcel Ltr: C Add'l Parcels: No Tax Municipality: Scottsdale Census Tract: 217502 Taxes: 6737 Legal: LOT 3 AZURA SCOTTSDALE MCR 007710 Marketing Name: DT Scottsdale MFPortfolio Map Code/Grid: P37 House Number: 6824 Compass: E Street Name: 4TH St Suffix: Street City/Town Code: Scottsdale State/Province: AZ Zip Code: 85251 Zip4: 5532 County Code: Maricopa Subdivision: AZURA SCOTTSDALE Assessor Number: 130-10-037-C Tax Year: 2017

General Property Description

# of Buildings: 7 Uncvrd Parking Spcs: 5 Lot Size Dimensions: 44383 Total # of Units: 26 Elementary School District: Scottsdale Unified District High School District: Scottsdale Unified District Year Built: 1959 Zoning: R-5, DO

Project Type

25 - 50 Units: 1

Construction

Block: 1 Wood Frame: 1

Const - Finish

Painted: 1 Stucco: 1

Roofing

Foam: 1

Floors

Wood: 1 Ceramic Tile: 1 Carpet: 1

Sale Includes

Land & Building: 1

Income & Expenses

Annual Elec Exp: 0 Annual Gas Exp: 0 Annual Ins Exp: 0 Annual Land Lse Exp: 0 Annual Landscape Exp: 0 Annual Legal & Acctg: 0 Annual Maint Exp: 0 Annual Mgmt Exp: 0 Annual Trash Exp: 0 Annual Wtr/Swr Exp: 0 Owner Association: No Annual Ownr Asoc Fee: 0 Annual PAD Fee: 0 Annual Rplcmnt Rsrvs: 0 Annual Other Expense: 0 Operating Exp: 6737 Other Income: 0 Vacancy Allowance: 0 Adjusted Gross Inc: 0

Pmt & Rate Info

Down Payment: 0 Equity: 4400000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0 Assessment Balance: 0

Community Features

Pool: 1

Heating

Electric: 1

Cooling

Electric: 1

Tenant Pays

Electricity: 1 Cable TV: 1

Appliances Included

Free-Standing Range: 1 Refrigerator: 1 Dishwasher: 1 Disposal: 1

Source of Fincl Data

Projected Proforma: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Parking Features

Carport: 1

Electric

APS: 1

Gas

City Gas: 1

Owner Pays

Water: 1 Sewer: 1 Trash Collection: 1 Landscaping: 1 Pool Maintenance: 1

New Financing

Conventional: 1 1031 Exchange: 1

Existing 1st Loan

Conventional: 1

Existing 2nd Loan

Other (See Remarks): 1

Existing 3rd Loan

Other (See Remarks): 1

Reports/Disclosures

None: 1

Environmental

None: 1

Existing Othr Ln Trm

Not Applicable: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

# 1 Bedroom Units: 20 Avg Rent: 0 Avg SqFt: 825 # Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 4 Avg Rent: 0 Avg SqFt: 1075 # Baths: 2

3 Bedrooms Units

# 3 Bedroom Units: 2 Avg Rent: 0 Avg SqFt: 1600 # Baths: 2

4 Bedrooms Units

Avg Rent: 0

Sold Info

Loan Type: Cash Closing Cost Split: Normal - N Payment Type: Other Buyer Concession to Seller: 0 Buyer Concession $/%: $ Seller Concession to Buyer: 0 Seller Concession $/%: $

Remarks Misc

Cross Street: 68th Street & Indian School Rd Geo Lat: 33.49028 Geo Lon: -111.933602

Status Change Info

Off Market Date: 2019-01-23 Under Contract Date: 2018-10-07 Close of Escrow Date: 2019-02-28 Sold Price: $4,051,000

Legal Info

Lot Number: 3

Property Features

Project Type: 25 - 50 Units Construction: Block; Wood Frame Const - Finish: Painted; Stucco Roofing: Foam Floors: Wood; Ceramic Tile; Carpet Sale Includes: Land & Building Community Features: Pool Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal Cooling: Electric Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: City Gas Parking Features: Carport Owner Pays: Water; Trash Collection; Landscaping; Pool Maintenance Tenant Pays: Electricity; Cable TV Source of Fincl Data: Projected Proforma Existing 1st Loan: Conventional Existing 2nd Loan: Other (See Remarks) Existing 3rd Loan: Other (See Remarks) Existing Othr Ln Trm: Not Applicable New Financing: Conventional; 1031 Exchange Environmental: None

Documents

View Document 38-Unit Downtown Scottsdale MF - Flyer ›
Listing Office: Orion Investment Real Estate
IDX
Last Updated: June - 03 - 2020
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