$4,051,000
6824 E 4TH Street
Scottsdale, AZ 85251
MLS# 5814645
Status: Closed

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Property 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

Details
Maps
Documents
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
Country: US
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
Dishwasher: 1
Disposal: 1
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 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 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 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
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
IDX
Listing Office: Orion Investment Real Estate

Last Updated: June - 03 - 2020

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