Ownership: Fee Simple
Current Price: $4,300,000
Sold Price: $4,300,000
Status: Closed
List Date: 2023-01-23
Building Number: 1 & 2
Assessor's Map #: 38
Legal Description (Abbrev): MATERA VILLAS CONDOMINIUM MCR 978-20 COMMON ELEMENTS
Assessor's Parcel #: 261
Add'l Parcels: Yes
Tax Municipality: Scottsdale
Census Tract: 218200
Taxes: 15692
Legal: MATERA VILLAS CONDOMINIUM MCR 978-20 COMMON ELEMENTS
Marketing Name: Eight on Belleview
Map Code/Grid: P36
House Number: 7323
Compass: E
Street Name: BELLEVIEW
St Suffix: Street
City/Town Code: Scottsdale
State/Province: AZ
Zip Code: 85257
County Code: Maricopa
Subdivision: MATERA VILLAS CONDOMINIUM
Assessor Number: 131-38-261
Tax Year: 2022
# of Buildings: 2
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 13089
Total # of Units: 8
Elementary School District: Scottsdale Unified District
High School District: Scottsdale Unified District
Elementary School: Other
Jr. High School: Other
High School: Other
Year Built: 2016
Zoning: [R-5] Multiple-
Range: 4E
Section: 2
Township: 1N
Lot Number: 1001-08
Four Plex: 1
5 - 12 Units: 1
Land & Building: 1
Laundry Equipment: 1
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 3000
Annual Land Lse Exp: 0
Annual Landscape Exp: 1200
Annual Legal & Acctg: 0
Annual Maint Exp: 4000
Annual Mgmt Exp: 13000
Annual Trash Exp: 1200
Annual Wtr/Swr Exp: 5000
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 43092
Other Income: 0
Vacancy Allowance: 0.03
Adjusted Gross Inc: 279360
Total Monthly Rental Income: 24000
Cap Rate: 5.56
Down Payment: 0
Equity: 4250000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Ceiling Fan(s): 1
Electric: 1
Landscape Water System: 1
Desert Landscaping: 1
Patio/Balcony: 1
Free-Standing Range: 1
Refrigerator: 1
Dishwasher: 1
Disposal: 1
Microwave: 1
Washer/Dryer: 1
W/D Hookup: 1
Owner: 1
Projected Proforma: 1
Carport: 1
>1 Space Per Unit: 1
Paved: 1
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
Conventional: 1
Owner May Carry: 1
# 3 Bedroom Units: 8
Avg Rent: 3000
Avg SqFt: 1437
# Baths: 2
Loan Type: Carryback
Loan Years: 5
Closing Cost Split: Normal - N
Payment Type: Interest Only
Buyer Concession to Seller: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
Cross Street: McDowell and Scottsdale RD
Directions: McDowell and Scottsdale RD Directions: East to 74th st turn South to 1st St behind SkySong, Belleview, Turn right(West) to Property on the right.
Geo Lat: 33.461219
Geo Lon: -111.922842
Off Market Date: 2023-04-10
Under Contract Date: 2023-03-29
Close of Escrow Date: 2023-04-10
Sold Price: $4,300,000
Gross Annual Sch Inc: 288000
Net Operating Income: 236268
Project Type: Four Plex; 5 - 12 Units
Other Type: Packaged Offering
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Tile
Floors: Carpet; Other
Sale Includes: Land & Building; Laundry Equipment
Community Features: No Pool
Exterior Amenities: Landscape Water System; Desert Landscaping; Patio/Balcony
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer; W/D Hookup
Cooling: Ceiling Fan(s); Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: Carport; >1 Space Per Unit; Paved
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity
Source of Fincl Data: Owner; Projected Proforma
Showing Notification Methods: Text
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 2nd Loan: Treat as Free&Clear
Existing 3rd Loan: Treat as Free&Clear
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; Owner May Carry
Environmental: None
