6824 E 4TH Street, Scottsdale, AZ 85251 (MLS# 5814645)

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
Country
US
County Code
Maricopa
Subdivision
AZURA SCOTTSDALE
Assessor Number
130-10-037-C
Tax Year
2017

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

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; 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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