6915 E 3RD Street, Scottsdale, AZ 85251 (MLS# 5709817)

6915 E 3RD Street, Scottsdale, AZ 85251

$2,560,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $2,560,000 Last Modified: 6/12/2018

Overview

Description

Nestled in the perfect Old Towne Scottsdale to die for location. ** SELLER MAY CARRY OWC** Has been upgraded and cared for more than most condo’s which dominate the sub-market. ** THIS IS IT. ** Whether you are a condo conversion specialist, a savvy long term buy and hold investor; they just aren’t making any more dirt or quality buildings like these in Old Towne Scottsdale.**** ***LOCATION, LOCATION, LOCATION*** ***UNDER NO CIRCUMSTANCES WALK OR TALK TO ANY TENANTS OR ON-SITE PERSONNEL*** ***Granite throughout, upgraded cabinets, tile, light and plumbing fixtures. ***Just add condo map for immediate upside or sit back and bring rents up to market for long term gain. *** All 2 bedroom units, 8 with 2nd bath** Laundry in all units, covered parking and a gleaming pool make thi

Supplements: No deferred maintenance! Bring your fussiest buyers. 8 units were built in 2000 and major renovation was completed at this time in other building. Hard to tell the difference between buildings. Loan can be assumed, however seller may get additionally creative with a carry back. Let's make a deal! Again, above all; DO NOT WALK PROPERTY or SPEAK WIT ... (Read more)

Listing Details MLS# 5709817

Location, Tax & Legal

Map Code/Grid: P37
House Number: 6915
Compass: E
Street Name: 3RD
St Suffix: Street
City/Town Code: Scottsdale
State/Province: AZ
Zip Code: 85251
Zip4: 5533
Country: US
County Code: Maricopa
Subdivision: CHAVERN VILLA
Assessor Number: 130-10-018
Tax Year: 2017
Assessor's Map #: 10
Legal Description (Abbrev): LOT 16 CHAVERN VILLA MCR 007535
Assessor's Parcel #: 18
Add'l Parcels: Yes
Tax Municipality: Scottsdale
Census Tract: 217502
Taxes: 3604
Legal: LOT 16 CHAVERN VILLA MCR 007535
Marketing Name: Old Towne Trophy

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 17670
Year Built: 2000
Uncvrd Parking Spcs: 6
Total # of Units: 12
# of Buildings: 2
Zoning: M-H/R-5
Elementary School District: Scottsdale Unified District
High School District: Scottsdale Unified District

Remarks Misc

Cross Street: 2nd Street and Goldwater
Directions: From the intersection of E Ind Schl Rd and N Goldwater Blvd head south on Goldwater Blvd. Turn right on E 2nd St to N 69th St turn left on N 69th St. Turn left on E 3rd St. Property will be on Right.

Status Change Info

Off Market Date: 2018-04-29
Under Contract Date: 2018-04-13
Close of Escrow Date: 2018-06-08

Legal Info

Township: 2N
Range: 4E
Section: 27
Lot Number: 16

More Information

Income Expenses

Gross Annual Sch Inc: 196080
Net Operating Income: 150865.61

2 Bedroom Units

# 2 Bedroom Units: 12
Avg Rent: 1362
Avg SqFt: 1000
# Baths: 2

Contact Info

List Agent Home Phn: 602-265-6617

Sold Info

Loan Type: Conventional
Loan Years: 30
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

5 - 12 Units: Yes

Construction

Block: Yes
Wood Frame: Yes

Const - Finish

Painted: Yes
Brick Veneer: Yes
Stone: Yes
Siding: Yes

Roofing

Metal: Yes

Floors

Wood: Yes
Ceramic Tile: Yes
Carpet: Yes

Sale Includes

Land & Building: Yes
Personal Property: Yes
Laundry Equipment: Yes

Income & Expenses

Annual Elec Exp: 3281.3
Annual Gas Exp: 0
Annual Ins Exp: 4164
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 4860
Annual Mgmt Exp: 10800
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 9078.09
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 35787.39
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 186276

Pmt & Rate Info

Cap Rate: 5.08
Down Payment: 0
Equity: 2170000
1st Encumbrance: 800000
Down Payment %: 0
Monthly Payments: 0
1st Interest Rate: 4
1st Years Remaining: 4
1st Payment Freq: Monthly
Total Owed: 800000
Assessment Balance: 0

Community Features

Pool: Yes

Heating

Electric: Yes
Central: Yes

Cooling

Central Air: Yes
Electric: Yes

Exterior Amenities

Landscape Water System: Yes
Green Landscaping: Yes
Partially Fenced: Yes
Cable TV Available: Yes
Patio/Balcony: Yes
Security Light(s): Yes

Interior Features

Fire/Smoke Alarm(s): Yes
Fire Sprinklers: Yes

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

Dishwasher: Yes
Microwave: Yes
Refrigerator: Yes
Free-Standing Range: Yes
Washer/Dryer: Yes
W/D Hookup: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes
On Street: Yes
>1 Space Per Unit: Yes
Paved: Yes

Electric

SRP: Yes
Individual Meter: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes
Pool Maintenance: Yes

New Financing

Conventional: Yes
Wraparound: Yes
Other (See Remarks): Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Not Applicable: Yes

Existing 1st Loan Terms

Assume - Qualify: Yes
Balloon/Call Prvisn: Yes

Existing 2nd Loan

Treat as Free&Clear: Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Treat as Free&Clear: Yes

Existing 3rd Loan Type

Not Applicable: Yes

Reports/Disclosures

Seller Prop Disc Stm: Yes
Other (See Remarks): Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 5 - 12 Units Construction: Block; Wood Frame Const - Finish: Painted; Brick Veneer; Stone; Siding Roofing: Metal Floors: Wood; Ceramic Tile; Carpet Sale Includes: Land & Building; Personal Property; Laundry Equipment Community Features: Pool Exterior Amenities: Landscape Water System; Green Landscaping; Partially Fenced; Cable TV Available; Patio/Balcony; Security Light(s) Interior Features: Fire/Smoke Alarm(s); Fire Sprinklers Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer; W/D Hookup Heating: Central Cooling: Electric; Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: SRP; Individual Meter Gas: None Parking Features: Carport; On Street; >1 Space Per Unit; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping; Pool Maintenance Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Assume - Qualify; Balloon/Call Prvisn Existing 2nd Loan: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Conventional; Wraparound; Other (See Remarks) Environmental: None

Documents

Unbranded Flyer ›

Listing Office: Better Homes & Gardens Real Estate SJ Fowler

Last Updated: June - 12 - 2018