Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$4,051,000
Last Modified:
6/03/2020
Search
6824 E 4TH Street, Scottsdale, AZ 85251
$4,051,000
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
Current Price: $4,051,000
Sold Price: $4,051,000
Status: Closed
List Date: 2018-08-31
Ownership: Fee Simple
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
Country: USA
County Code: Maricopa
Subdivision: AZURA SCOTTSDALE
Assessor Number: 130-10-037-C
Tax Year: 2017
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
Geo Lat: 33.49028
Geo Lon: -111.933602
Status Change Info
Status Change Date: 2019-03-01
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
1 Bedroom Units
# 1 Bedroom Units: 20
Avg SqFt: 825
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 4
Avg SqFt: 1075
# Baths: 2
3 Bedrooms Units
# 3 Bedroom Units: 2
Avg SqFt: 1600
# Baths: 2
Sold Info
Loan Type: Cash
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: 25 - 50 Units
Construction: Block; Frame - Wood
Const - Finish: Painted; Stucco
Roofing: Foam
Floors: Wood; Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Amenities: Pool
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Disposal
Cooling: Electric
Water: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: City Gas
Parking: Carport
Owner Pays: Water; Trash Collection; Landscaping; Pool/Spa Maintenance
Tenant Pays: Electric; Cable TV
Source of Fincl Data: Projected Proforma
Existing 1st Loan: Conventional
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: 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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