Ownership: Fee Simple
Current Price: $7,880,000
Sold Price: $7,880,000
Status: Closed
List Date: 2018-04-20
Assessor's Map #: 24
Legal Description (Abbrev): AN IRREG PCL IN THE SW4SW4 SW COR LYNG APPROX 820'N OF SW COR OF SE 11-17-5E CONT 1.12AC 3429/254
Assessor's Parcel #: 492
Assessor Parcel Ltr: F
Add'l Parcels: No
Tax Municipality: Sedona
Census Tract: 1802
Taxes: 40589
Legal: AN IRREG PCL IN THE SW4SW4 SW COR LYNG APPROX 820'N OF SW COR OF SE 11-17-5E CONT 1.12AC 3429/254
Marketing Name: Adobe Grand Villas
Map Code/Grid: C82
House Number: 35
Street Name: Hozoni
St Suffix: Drive
City/Town Code: Sedona
State/Province: AZ
Zip Code: 86336
Zip4: 3765
County Code: Yavapai
Subdivision: Adobe Grand Villas - a boutique hotel of 16 themed luxury villas.
Assessor Number: 408-24-492-F
Tax Year: 2014
Type of Property: Boutique Hotel
Ttl Apx SqFt Bldg: 20876
# of Buildings: 6
Uncvrd Parking Spcs: 20
Year Built: 2001
Zoning: Lodging
Range: 05E
Section: 11
Township: 17N
Lot Number: F
Concrete: 1
Wood: 1
Carpet: 1
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: 40589
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0
Commercial: 1
Other (See Remarks): 1
Cap Rate: 6.58
Down Payment: 0
Equity: 8750000
Total Owed: 0
Assessment Balance: 0
Electric: 1
Natural Gas: 1
Finished: 1
Smoke Detector(s): 1
Security Light(s): 1
Private Restrooms: 1
Public Restrooms: 1
Sprinkler System-Ground: 1
Landscaping: 1
Monument Sign: 1
City Electric: 1
Master Meter: 1
Cash Only: 1
Owner May Carry: 1
Seller Prop Disc Stm: 1
ALTA Survey Availbl: 1
Loan Type: Cash
Payment Type: Fixed
Clsing Cost Split: Normal - N
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 45000
Seller Concession $/%: $
Cross Street: From Phoenix: take I-17N to Exit #287 (Route 260)
Directions: Then west 12 miles to Cottonwood, right on 89A North to Sedona for 14 miles. Turn left on Tortilla Dr (at GIANT gas station), left at stopsign on Southwest Drive, right on Hozoni Dr, entrance on left.
Geo Lat: 34.864104
Geo Lon: -111.812673
Off Market Date: 2019-02-22
Under Contract Date: 2018-10-31
Close of Escrow Date: 2019-02-21
Sold Price: $7,880,000
Net Operating Income: 575750
Building Type: Commercial; Other (See Remarks)
Business Type: Other; See Remarks
Stories: 2 Stories
Construction: Stucco; Wood Frame
Roofing: Tile
Floors: Concrete; Wood; Carpet
Ceiling Height: 8.1 Feet to 10 Feet
Heating: Natural Gas
Cooling: Central Air
Loading Facilities: None
Interior Features: Finished; Smoke Detector(s); Security Light(s); Private Restrooms; Public Restrooms
Exterior: Sprinkler System-Ground; Landscaping; Monument Sign
Fencing: Block
Parking Features: Free
Electric: City Electric; Master Meter
Gas: Other (See Remarks)
Water Source: City Franchise
Sewer: Sewer - Public
New Financing: Cash Only; Owner May Carry
Source of Fincl Data: Owner
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Fixed
Existing 1st Loan Terms: Assume-No Qualify
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
Traffic Count: Unknown
Environmental: None
