7702 E Thomas Road, Scottsdale, AZ 85251

$21,300,000
List Price
$21,300,000
Status
ACTIVE
Price Change
▲ $1,569,000 1674293414
Days on Market
20
MLS#
6508073
City
Scottsdale
Lot Size
26
Year Built
1956

Property Description

We are pleased to present for sale a hand-curated residential real estate portfolio consisting of 26 newly-remodeled single family homes that are currently operating as short and long term rental properties in vibrant Phoenix Arizona. With over $3.6M in renovation and remodeling costs, this portfolio has an average dwelling size of 1,925 Sq Ft with all homes fully furnished and supplied. All of the homes were remodeled in 2022 and upon acquisition, the seller deployed the necessary capital to improve the homes, including kitchen and bath remodels, landscaping, pools (where applicable), new roofs, and other improvements as needed. Geographically, 14 homes are located within the City of Tempe, 3 are in Scottsdale, 7 are in the East Valley and 2 are in Glendale. This is a unique offering to purchase a stable portfolio of homes in the exceedingly strong and sought-after Greater Phoenix housing market and its most desired neighborhoods like Scottsdale, Tempe, Glendale and the East Valley, each property boasts close proximity to the most popular points of interest within each geographical location; This offering has immediate cash flow and revenue growth built in. With over 40% of households in Metropolitan Phoenix being renter-occupied, making this a perfect opportunity for short or long term rental models. The in place operations offer continued stability and favorable operational costs. In recent years, Phoenix and its core neighborhoods have benefited from transformational investment that has dramatically increased the residential population and generated a rich array of restaurants, retail, events and entertainment venues. The surrounding neighborhoods also offer an abundance of history dating back to the development of Metro Phoenix and feature historic landmarks, plentiful hiking trails, architecturally notable buildings, lush resorts and world renowned golf courses. This is a bulk sale the following parcel's are included - 133-24-020, 129-15-167, 301-47-308, 133-36-059, 132-11-010, 124-60-070, 124-77-077, 124-76-015, 123-47-021, 133-38-155, 133-39-273, 133-36-533, 124-74-123, 175-70-052, 167-08-062, 129-19-014 , 303-30-199, 304-88-551, 509-02-675, 509-94-657, 304-68-470, 314-02-485, 314-02-544, 148-19-231, 231-07-668

Additional Information

Gross Annual Sch Inc
1414860
Adjusted Gross Inc
1414860
Taxes
$1,152
Annual Other Exp
220000
Operating Exp
221152
Net Operating Income
$1,250,000
Units
26
Project Type
25 - 50 Units, Other (See Remarks)
Construction
Block, Frame - Wood, Other (See Remarks)
Roofing
Comp Shingle, Other (See Remarks), Tile
Parking
Carport, Garage, Other (See Remarks), Street Parking
Cooling
2 or More Units, See Remarks
Heating
Electric, See Remarks
Floors
Carpet, Other, Vinyl, Wood
Interior Amenities
Furnished
Exterior Amenities
Cable TV Available, Desert Landscaping, Green Landscaping, Other (See Remarks)
Zoning
Residential
Subdivision
Cavalier Vista 1
Community Amenities
Barbecue, Golf/Putting Green, No Pool, Other, Pool, Sport Court
Electric
APS, Other (See Remarks)
Gas
Other (See Remarks), SW Gas
Water
City Franchise
Sewer
Sewer - Public
Tenant Pays
None
New Financing
1031 Exchange, Conventional, Other (See Remarks)
Elementary School
Pima Elementary School
Middle School
Mohave Middle School
High School
Coronado High School
School District
Scottsdale Unified District

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of North & Co.

All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2023 Arizona Regional Multiple Listing Service, Inc. All rights reserved.