7325 E BELLEVIEW Street 1001, Scottsdale, AZ 85257

$3,035,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $3,035,000 Last Modified: 8/26/2016

Overview

Description

Fountain Villas is an attractive 20-unit townhome community located in an irreplaceable south Scottsdale location near SkySong. Built in 1969, the property is made of block construction with built-up foam roofs, and is individually-metered for electricity with roof-mounted HVAC units.

Supplements: Fountain Villas has a desirable unit mix consisting of studios, two and three-bedroom floor plans that average approximately 866 square feet and are extremely spacious and well designed. Many of the units have been renovated with washers and dryers, black appliances, porcelain tile flooring, granite countertops, dual pane windows, brushed nickel fi ...

Listing Details MLS# 5412991

Location, Tax & Legal

Map Code/Grid
Q37
House Number
7325
Compass
E
Street Name
BELLEVIEW
St Suffix
Street
City/Town Code
Scottsdale
State/Province
AZ
Zip Code
85257
Zip4
4024
Country
US
County Code
Maricopa
Subdivision
FOUNTAIN VILLAS CONDOMINIUM
Assessor Number
131-38-176
Tax Year
2015
Unit #
1001
Assessor's Map #
38
Legal Description (Abbrev)
FOUNTAIN VILLAS CONDOMINIUM MCR 808-39 UNIT 1001 (PLEASE NOTE: FOR LEGAL DESCRIPTION REFERENCES REGA
Assessor's Parcel #
176
Add'l Parcels
Yes
Tax Municipality
Maricopa - COUNTY
Census Tract
218200
Taxes
7264.06
Legal
FOUNTAIN VILLAS CONDOMINIUM MCR 808-39 UNIT 1001 (PLEASE NOTE: FOR LEGAL DESCRIPTION REFERENCES REGA
Marketing Name
Fountain Villas

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
26572
Year Built
1969
Total # of Units
20
# of Buildings
4
Zoning
R-5
Elementary School District
Scottsdale Unified District
High School District
Scottsdale Unified District
Uncvrd Parking Spcs
0

Status Change Info

Off Market Date
2016-05-04
Under Contract Date
2016-04-28
Close of Escrow Date
2016-08-23

Legal Info

Township
1N
Range
4E
Section
2
Lot Number
1001

More Information

Income Expenses

Gross Annual Sch Inc
276412
Net Operating Income
215953

Efficiency Units

# Efficiency Units
2
Avg Rent
700
Avg SqFt
500
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
16
Avg Rent
895
Avg SqFt
1250
# Baths
15

3 Bedrooms Units

# 3 Bedroom Units
2
Avg Rent
1375
Avg SqFt
1000
# Baths
15

Contact Info

List Agent Home Phn
602-735-5634

Sold Info

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

Project Type

13 - 24 Units
Yes

Construction

Block
Yes

Const - Finish

Painted
Yes
Stucco
Yes

Roofing

Built-Up
Yes
Foam
Yes

Floors

Ceramic Tile
Yes
Carpet
Yes

Sale Includes

Land & Building
Yes

Income & Expenses

Annual Elec Exp
0
Annual Gas Exp
0
Annual Ins Exp
0
Annual Land Lse Exp
0
Annual Landscape Exp
0
Annual Legal & Acctg
0
Annual Maint Exp
0
Annual Mgmt Exp
0
Annual Trash Exp
0
Annual Wtr/Swr Exp
0
Owner Association
No
Annual Ownr Asoc Fee
0
Annual PAD Fee
0
Annual Rplcmnt Rsrvs
0
Annual Other Expense
60459
Other Income
0
Vacancy Allowance
0.04
Adjusted Gross Inc
265355.52

Pmt & Rate Info

Cap Rate
6.47
Down Payment
0
Equity
3340000
Down Payment %
0
Monthly Payments
0
Total Owed
0
Assessment Balance
0

Community Features

Pool
Yes
Barbecue
Yes

Heating

Individual
Yes

Cooling

Individual
Yes

Exterior Amenities

Green Landscaping
Yes
Security Light(s)
Yes

Interior Features

Vertical Blinds
Yes

Tenant Pays

Electricity
Yes

Appliances Included

Microwave
Yes
Refrigerator
Yes
Free-Standing Range
Yes
Washer/Dryer
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Owner
Yes

Water Source

City Franchise
Yes
Individual Meter
Yes

Sewer

Sewer - Public
Yes

Parking Features

Carport
Yes

Electric

Individual Meter
Yes

Gas

None
Yes

Owner Pays

Water
Yes
Sewer
Yes

New Financing

Conventional
Yes

Existing 1st Loan

Conventional
Yes

Existing 1st Loan Type

Not Applicable
Yes

Existing 1st Loan Terms

Not Applicable
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

None
Yes

Existing 3rd Loan Terms

Not Applicable
Yes

Environmental

None
Yes

Existing Othr Ln Trm

Not Applicable
Yes

1 Bedroom Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: 13 - 24 Units Construction: Block Const - Finish: Painted; Stucco Roofing: Built-Up; Foam Floors: Ceramic Tile; Carpet Sale Includes: Land & Building Community Features: Pool; Barbecue Exterior Amenities: Green Landscaping; Security Light(s) Interior Features: Vertical Blinds Appliances Included: Free-Standing Range; Refrigerator; Microwave; Washer/Dryer Heating: Individual Cooling: Individual Water Source: City Franchise; Individual Meter Sewer: Sewer - Public Electric: Individual Meter Gas: None Parking Features: Carport Road Surface Type: Asphalt Owner Pays: Water Tenant Pays: Electricity Source of Fincl Data: Owner Existing 1st Loan: Conventional Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable 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 Environmental: None
IDX
Listing Office: CBRE, Inc
Last Updated: August - 26 - 2016
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