$1,833,333
Scottsdale, AZ 85251
MLS# 6429997
Status: Closed
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Property Description
Welcome to Four on Avalon. This a portfolio sale. 3 four unit complex's lined up together. 6622, 6628 and 6616 can purchase separately . 6616 and 6628 must close together. Currently for rented for 2400 or run your own short term rental. . All units are all two bedroom and have new plumbing, new paint, new flooring, fencing and gates, landscaping new bathrooms and kitchens with waterfall quartz counter new back splash new doors new floors new washer and dryers in all units. Updated electrical. New asphalt and storage for all units and gated and coded perfect to run a short term rental. Covered parking and street parking. Current tenant pays for all utilities and landscaping. Performing over a 5 cap on actuals. Each building has remodeling and repair costs 350k per building.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $1,833,333
Sold Price: $1,833,333
Status: Closed
List Date: 2022-07-07
Location, Tax & Legal
Assessor's Map #: 9
Legal Description (Abbrev): LOT 106 OASIS PLAZA MCR 009839
Assessor's Parcel #: 54
Add'l Parcels: No
Tax Municipality: Scottsdale
Census Tract: 217501
Taxes: 1692
Legal: LOT 106 OASIS PLAZA MCR 009839
Marketing Name: 6628 Avalon
Map Code/Grid: P37
House Number: 6622
Compass: E
Street Name: AVALON
St Suffix: Drive
City/Town Code: Scottsdale
State/Province: AZ
Zip Code: 85251
Zip4: 7147
County Code: Maricopa
Subdivision: OASIS PLAZA
Assessor Number: 130-09-054
Tax Year: 2021
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 4
Lot Size Dimensions: IRR
Total # of Units: 4
Elementary School District: Scottsdale Unified District
High School District: Scottsdale Unified District
Elementary School: Other
Jr. High School: Other
High School: Other
Year Built: 1962
Zoning: MULTI
Legal Info
Range: 4E
Section: 27
Township: 2N
Lot Number: 106
Project Type
Four Plex: 1
Other Type
Packaged Offering: 1
Other (See Remarks): 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 1600
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 2000
Annual Mgmt Exp: 4200
Annual Trash Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 9492
Other Income: 0
Vacancy Allowance: 0.03
Adjusted Gross Inc: 111744
Total Monthly Rental Income: 9600
Pmt & Rate Info
Cap Rate: 5.12
Down Payment: 0
Equity: 1999000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Natural Gas: 1
Cooling
Individual: 1
Tenant Pays
Gas: 1
Electricity: 1
Cable TV: 1
Appliances Included
Built-In Range: 1
Refrigerator: 1
Dishwasher: 1
Source of Fincl Data
Projected Proforma: 1
Other (See Remarks): 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
>1 Space Per Unit: 1
Electric
APS: 1
Gas
Individual Meter: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Conventional: 1
Special
Owner/Agent: 1
Existing 1st Loan
Conventional: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 2800
Avg SqFt: 900
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Other
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: 68TH & THOMAS
Geo Lat: 33.483099
Geo Lon: -111.938093
Status Change Info
Off Market Date: 2022-08-22
Under Contract Date: 2022-08-14
Close of Escrow Date: 2022-09-30
Sold Price: $1,833,333
Income Expenses
Gross Annual Sch Inc: 115200
Net Operating Income: 102252
Property Features
Project Type: Four Plex
Other Type: Packaged Offering; Other (See Remarks)
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool
Appliances Included: Built-In Range; Refrigerator; Dishwasher
Heating: Natural Gas
Cooling: Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: Individual Meter
Parking Features: >1 Space Per Unit
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity; Gas; Cable TV
Source of Fincl Data: Projected Proforma; Other (See Remarks)
Special: Owner/Agent
Lockbox Type: None
Existing 1st Loan: Conventional
Existing 2nd Loan: Treat as Free&Clear
Existing 3rd Loan: Treat as Free&Clear
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional
Environmental: None
Listing Office: Grace CRE
Last Updated: March - 25 - 2024
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