$1,083,333
$1,150,000
5.8%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 02/01/2022
Key Details
Sold Price $1,083,333
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Holiday Park 2
MLS Listing ID 6302801
Sold Date 02/01/22
Maintenance Fees $2,000
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1958
Annual Tax Amount $1,101
Tax Year 2021
Lot Dimensions 8281 SF
Property Description
Welcome to Four on Cherry Lynn. This four plex is in the heart of Old Town Scottsdale in nice Cul-del-sac lot! This property is an amazing opportunity to do a full remodel! Property has been self managed with month to month tenants. Currently below market rents 500-600. Market rate once renovated 1500-1900. One 1 bedroom 1 bath and Three 2 bedroom 1 bath units. Once remodel proforma cap 5.5-6 cap. Could also make into a Air B&B for even a higher return. All facts and figures are approximate buyer verify MLS information. Drive by only tenants are unaware of sale.
Also available as part of a portfolio sale with same owners and unit mix and rent are 6616 E Avalon, 6622 E Avalon, and 6628 E Avalon also available for $1,150,000 each.
Location
State AZ
County Maricopa
Community Holiday Park 2
Zoning R-5 Residential
Direction Take 68th Street north from Thomas to Cheery Lynn. West on CHeery Lynn to property
Interior
Flooring Ceramic Tile
Appliance BI OvenRange
Exterior
Garage Street Parking
Community Features No Pool
Waterfront No
Roof Type Built-Up
Parking Type Street Parking
Total Parking Spaces 4
Building
Sewer Public Sewer
Water City Franchise
Schools
School District Scottsdale Unified District
Others
Senior Community No
Tax ID 130-47-078
Acceptable Financing Conventional
Listing Terms Conventional
Financing Conventional
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