$6,495,000
Scottsdale, AZ 85251
MLS# 6688876
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Property Description
Welcome to LUX at Craftsman Ct, this groundbreaking blend of urban sophistication and modern living nestled in the heart of Downtown Scottsdale. This visionary mix-use development seamlessly integrates ground level retail and 6 residential spaces, offering a lifestyle that epitomizes convenience and luxury. Positioned within walking distance of all the premier amenities that make Scottsdale a thriving cultural hub, Lux was designed to elevate your daily experience. Immerse yourself in the vibrant energy of Downtown Scottsdale, where world-class dining, upscale boutiques, art galleries, and entertainment venues await just steps from your doorstep.The property is currently operating as a VRBO hotel and offers an investor the opportunity to capitalize on the high lucrative short term.
Details
Maps
Contract Info
Current Price: $6,495,000
List Price: $6,495,000
Status: Active
List Date: 2024-04-09
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 4238
Compass: N
Street Name: CRAFTSMAN
St Suffix: Court
City/Town Code: Scottsdale
State/Province: AZ
Zip Code: 85251
Zip4: 3202
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 10 CRAFTSMANS COURT MCR 006223
Subdivision: CRAFTSMANS COURT
Assessor's Map #: 50
Assessor's Parcel #: 9
Assessor Parcel Ltr: A
Add'l Parcels: No
Assessor Number: 173-50-009-A
Legal: LOT 10 CRAFTSMANS COURT MCR 006223
Census Tract: 217201
Tax Municipality: Scottsdale
Taxes: 7046
Tax Year: 2023
Marketing Name: CRAFTSMANS COURT
General Property Description
Lot Size Dimensions: 3,353 sqft
Year Built: 1973
Total # of Units: 6
# of Buildings: 1
Zoning: [C-2]
Elementary School District: Scottsdale Unified District
High School District: Scottsdale Unified District
Remarks & Misc
Cross Street: Scottsdale Rd and Indian School Rd
Directions: Head North on Scottsdale Rd and head west on N 3rd ave to your new place on N Craftsman Court.
Geo Lat: 33.49745
Geo Lon: -111.928039
Status Change Info
Status Change Date: 2024-04-09
Legal Info
Township: 2N
Range: 4E
Section: 22
Lot Number: 10
Income & Expenses
Owner Association: No
Operating Exp: 7046
Gross Annual Sch Inc: 306766.23
Other Income: 59501
Vacancy Allowance: 0.08
Adjusted Gross Inc: 336965.85
Net Operating Income: 29185803
Pmt & Rate Info
Cap Rate: 449.36
Equity: 6495000
Showing Notification Methods
Showing Service: Aligned Showings
Efficiency Units
# Efficiency Units: 1
Avg Rent: 6000
Avg SqFt: 1350
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 4
Avg Rent: 3500
Avg SqFt: 725
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 5500
Avg SqFt: 1750
Contact Info
List Agent Cell Phn2: 719-821-0292
Property Features
Project Type: 5 - 12 Units
Construction: Frame - Wood; Frame - Metal
Const - Finish: Painted; Stucco
Roofing: Foam
Floors: Other
Sale Includes: Personal Property; Laundry Equipment
Community Amenities: No Pool; See Remarks
Exterior Amenities: Other (See Remarks)
Interior Amenities: Furnished; Breakfast Bar
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Disposal; Washer/Dryer
Cooling: Electric
Water: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: None
Parking: Garage
Roads/Streets: Asphalt; Concrete
Owner Pays: Water; Electric; Cable TV; See Remarks
Tenant Pays: Other (See Remarks)
Source of Fincl Data: Provided by Owner
Lockbox Type: Other
Existing 1st Loan: Conventional
New Financing: Cash; VA; Conventional
Reports/Disclosures: Other (See Remarks)
Environmental: Other (See Remarks)
Supplements
short term rental market of Scottsdale or capture stability with long term residential leases. This place is a MUST SEE! Call today for more information.
Listing Office: eXp Realty
Last Updated: April - 11 - 2024
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
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