$1,130,000
Scottsdale, AZ 85251
MLS# 6288060
Status: Closed
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Property Description
Welcome to Four on 67th Place! Amazing value add opportunity located in old town Scottsdale. Property has a newer roof and units were updated about 10 years ago. Property has 3 two bedroom one bath room units and 1 one bedroom one bath unit. Tenants rents have not been raised in years. Current rents are 700 to 750. Most are month to month or are expiring end of October. Once fully renovated rents are 1550-1850. Or run as short term rentals. No HOA. Laundry room onsite. All facts and figures are approximate buyer verify MLS information. Buyer drive by only no showings with out accepted offer.
Details
Maps
Contract Info
Current Price: $1,130,000
Sold Price: $1,130,000
Status: Closed
List Date: 2021-09-01
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: P37
House Number: 3119
Compass: N
Street Name: 67th
St Suffix: Place
City/Town Code: Scottsdale
State/Province: AZ
Zip Code: 85251
Country: USA
County Code: Maricopa
Subdivision: HOLIDAY PARK 2
Assessor's Map #: 47
Assessor's Parcel #: 52
Add'l Parcels: No
Assessor Number: 130-47-052
Legal: LOT 8 HOLIDAY PARK 2 MCR 007624
Tax Municipality: Scottsdale
Taxes: 1352
Tax Year: 2021
Marketing Name: Four on 67th Place
General Property Description
Lot Size Dimensions: Irr
Year Built: 1958
Uncvrd Parking Spcs: 8
Total # of Units: 4
# of Buildings: 2
Zoning: Multi
Elementary School: Other
Jr. High School: Other
High School: Other
Elementary School District: Scottsdale Unified District
High School District: Scottsdale Unified District
Remarks & Misc
Cross Street: Thomas & 68th St.
Directions: North on 68th to Cherry Lynn, West to 67th Pl, South to property.
Geo Lat: 33.484142
Geo Lon: -111.935457
Status Change Info
Status Change Date: 2021-11-21
Off Market Date: 2021-11-04
Under Contract Date: 2021-10-22
Close of Escrow Date: 2021-11-17
Sold Price: $1,130,000
Legal Info
Lot Number: 8
Income & Expenses
Annual Ins Exp: 1600
Annual Landscape Exp: 1200
Annual Maint Exp: 3000
Annual Mgmt Exp: 4200
Annual Trash Exp: 1000
Annual Wtr/Swr Exp: 1500
Owner Association: No
Operating Exp: 13852
Gross Annual Sch Inc: 84000
Other Income: 1000
Vacancy Allowance: 0.05
Adjusted Gross Inc: 80750
Totl Mnth Rntal Inc: 7000
Net Operating Income: 66898
Pmt & Rate Info
Cap Rate: 6.08
Equity: 1100000
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 1550
Avg SqFt: 600
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 3
Avg Rent: 1800
Avg SqFt: 840
# Baths: 1
Sold Info
Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession to Buyer: 50000
Seller Concession $/%: $
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted
Roofing: Comp Shingle
Floors: Concrete; Vinyl; Carpet
Sale Includes: Land & Building
Community Amenities: No Pool
Exterior Amenities: Landscape Wtr System
Appliances Included: F/S Oven/Range; Refrigerator
Heating: Natural Gas
Cooling: Electric
Water: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking: >1 Space Per Unit
Roads/Streets: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electric; Gas
Source of Fincl Data: Projected Proforma
Showing Notification Methods: Text
Lockbox Type: None
Existing 1st Loan: Conventional
Existing 1st Ln Type: Fixed
Existing 1st Ln Trms: Non Assumable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None
Listing Office: Grace CRE
Last Updated: November - 21 - 2021
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