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7325 E BELLEVIEW Street 1001, Scottsdale, AZ 85257
Overview
Description
Supplements: ... (Read more) 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 fixtures and hardware, and new vanities and sinks. Additional unit amenities include built-in microwaves, dishwasher, garbage disposals, walk-in closets and private back yards. Situated on approximately half an acre, Fountain Villas has attractive, professionally designed landscaping with mature shade trees and lush turf. Community amenities include a large sparkling swimming pool with a shade screen, a picnic area, courtyard fountains, stacked stone accents, upgraded lighting and covered parking. Fountain Villas offers an investor the rare opportunity to acquire a highly desirable townhome community located in an exceptional south Scottsdale location. Over the last year, the average submarket rent has increased by 10%, significantly greater than the metropolitan Phoenix average. Additionally, the South Scottsdale submarket has one of the lowest vacancy rates with an average submarket vacancy of 4.75%. With the strong submarket fundamentals coupled with the Phoenix market's continual improvement and recovery, Fountain Villas is well positioned to achieve continual revenue increase.
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