$1,860,000
Scottsdale, AZ 85251
MLS# 5855907
Status: Closed
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Property Description
INCREDIBLE LOCATION! Royal Palms is a 12-unit community in highly desirable Downtown Scottsdale (DTS). ~0.5 acre parcel with R-5 zoning in DT Overlay for FUTURE REDEVELOPMENT. NOTE: 8 of the 12 units are RENT RESTRICTED through LURA until MAY 2025. Neighbors have proven REDEV POTENTIAL. Each unit individually metered for electric and with separate HVAC. STEPS FROM W HOTEL AND ENTERTAINMENT DISTRICT. The property offers residents views of Camelback Mtn, Spacious Floor Plans, Lush Landscaping, and Beautiful Pool. VERY FEW MF OFFERINGS IN DOWNTOWN SCOTTSDALE.
Details
Maps
Contract Info
Current Price: $1,860,000
Sold Price: $1,860,000
Status: Closed
List Date: 2018-12-05
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: P37
House Number: 4525
Compass: N
Street Name: 74TH
St Suffix: Street
City/Town Code: Scottsdale
State/Province: AZ
Zip Code: 85251
Zip4: 1439
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 25 DARYL ESTATES 2 MCR 006148
Subdivision: DARYL ESTATES 2
Assessor's Map #: 38
Assessor's Parcel #: 47
Assessor Parcel Ltr: C
Add'l Parcels: Yes
Assessor Number: 173-38-047-C
Legal: LOT 25 DARYL ESTATES 2 MCR 006148
Census Tract: 217203
Tax Municipality: Scottsdale
Taxes: 4056
Tax Year: 2017
Marketing Name: DT Scottsdale MFPortfolio
General Property Description
Lot Size Dimensions: 20944
Year Built: 1956
Uncvrd Parking Spcs: 12
Total # of Units: 12
# of Buildings: 2
Zoning: R-5, DO
Elementary School District: Scottsdale Unified District
High School District: Scottsdale Unified District
Remarks & Misc
Cross Street: Scottsdale Road & Camelback Road
Geo Lat: 33.503225
Geo Lon: -111.921555
Status Change Info
Status Change Date: 2019-12-11
Off Market Date: 2019-10-02
Under Contract Date: 2019-03-07
Close of Escrow Date: 2019-12-10
Sold Price: $1,860,000
Legal Info
Township: 2N
Range: 4E
Section: 23
Lot Number: 25
Income & Expenses
Owner Association: No
Operating Exp: 4056
Pmt & Rate Info
Equity: 1860000
1 Bedroom Units
# 1 Bedroom Units: 8
Avg SqFt: 620
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg SqFt: 825
# Baths: 2
3 Bedrooms Units
# 3 Bedroom Units: 2
Avg SqFt: 975
# Baths: 2
Sold Info
Loan Type: Other
Loan Years: 5
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted; Stucco
Roofing: Comp Shingle
Floors: Wood; Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Amenities: Pool
Exterior Amenities: Landscape Wtr System
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Disposal
Cooling: Electric
Water: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: City Gas
Parking: Street Parking; 1 Space/Unit
Roads/Streets: Asphalt
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
Reports/Disclosures: None
Environmental: None
Listing Office: Orion Investment Real Estate
Last Updated: June - 03 - 2020
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