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
Overview
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
Listing Details MLS# 5814645
Location, Tax & Legal
- 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
- 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
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 44383
- Year Built
- 1959
- Uncvrd Parking Spcs
- 5
- Total # of Units
- 26
- # of Buildings
- 7
- Zoning
- R-5, DO
- Elementary School District
- Scottsdale Unified District
- High School District
- Scottsdale Unified District
Remarks Misc
- Cross Street
- 68th Street & Indian School Rd
Status Change Info
- Off Market Date
- 2019-01-23
- Under Contract Date
- 2018-10-07
- Close of Escrow Date
- 2019-02-28
Legal Info
- Lot Number
- 3
More Information
1 Bedroom Units
- # 1 Bedroom Units
- 20
- Avg SqFt
- 825
- # Baths
- Yes
- Avg Rent
- 0
2 Bedroom Units
- # 2 Bedroom Units
- 4
- Avg SqFt
- 1075
- # Baths
- 2
- Avg Rent
- 0
3 Bedrooms Units
- # 3 Bedroom Units
- 2
- Avg SqFt
- 1600
- # Baths
- 2
- Avg Rent
- 0
Sold Info
- Loan Type
- Cash
- Payment Type
- Other
- Closing Cost Split
- Normal - N
- Buyer Concession $/%
- $
- Seller Concession $/%
- $
- Buyer Concession to Seller
- 0
- Seller Concession to Buyer
- 0
Project Type
- 25 - 50 Units
- Yes
Construction
- Block
- Yes
- Wood Frame
- Yes
Const - Finish
- Painted
- Yes
- Stucco
- Yes
Roofing
- Foam
- Yes
Floors
- Wood
- Yes
- Ceramic Tile
- Yes
- Carpet
- Yes
Sale Includes
- Land & Building
- Yes
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
- Yes
Heating
- Electric
- Yes
Cooling
- Electric
- Yes
Tenant Pays
- Electricity
- Yes
- Cable TV
- Yes
Appliances Included
- Dishwasher
- Yes
- Disposal
- Yes
- Refrigerator
- Yes
- Free-Standing Range
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Projected Proforma
- Yes
Water Source
- City Franchise
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- Carport
- Yes
Electric
- APS
- Yes
Gas
- City Gas
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Trash Collection
- Yes
- Landscaping
- Yes
- Pool Maintenance
- Yes
New Financing
- Conventional
- Yes
- 1031 Exchange
- Yes
Existing 1st Loan
- Conventional
- Yes
Existing 1st Loan Type
- Not Applicable
- Yes
Existing 1st Loan Terms
- Not Applicable
- Yes
Existing 2nd Loan
- Other (See Remarks)
- Yes
Existing 2nd Loan Type
- Not Applicable
- Yes
Existing 2nd Loan Terms
- Not Applicable
- Yes
Existing 3rd Loan
- Other (See Remarks)
- Yes
Existing 3rd Loan Type
- Not Applicable
- Yes
Reports/Disclosures
- None
- Yes
Existing 3rd Loan Terms
- Not Applicable
- Yes
Environmental
- None
- Yes
Existing Othr Ln Trm
- Not Applicable
- Yes
Efficiency Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
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
Road Surface Type:
Asphalt
Owner Pays:
Water; Trash Collection; Landscaping; Pool Maintenance
Tenant Pays:
Electricity; Cable TV
Source of Fincl Data:
Projected Proforma
Existing 1st Loan:
Conventional
Existing 1st Loan Type:
Not Applicable
Existing 1st Loan Terms:
Not Applicable
Existing 2nd Loan:
Other (See Remarks)
Existing 2nd Loan Type:
Not Applicable
Existing 2nd Loan Terms:
Not Applicable
Existing 3rd Loan:
Other (See Remarks)
Existing 3rd Loan Type:
Not Applicable
Existing 3rd Loan Terms:
Not Applicable
Existing Othr Ln Trm:
Not Applicable
New Financing:
Conventional; 1031 Exchange
Environmental:
None
Documents
38-Unit Downtown Scottsdale MF - Flyer ›
Listing Office:
Orion Investment Real Estate
Last Updated: June - 03 - 2020
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