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    6616 E Avalon Drive

    Scottsdale, AZ 85251
    • $1,150,000
    • STATUS: Active Under Contract
    • ID#: 6302804
    Under Contract
    UPDATED: 27 min ago
    $1,150,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1962
    County:
    Area:

    School Information

    Elementary School:
    Middle School:
    High School:

    Description

    Welcome to Eight on Avalon. This four plex is part of a portfolio and is in the heart of Old Town Scottsdale. 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. Must purchase with 6622 E Avalon for additional $1,150,000 for a total of $2,300,000 8 units. All facts and figures are approximate buyer verify MLS information. Drive by only tenants are unware of sale.Also available as part of a portfolio sale with same owners and unit mix and rent are 6631 E Cherry Lynn, and 6628 E Avalon also available for $1,150,000 each

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    © 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Long Realty Company. Data last updated 2021-10-28T14:12:24.16.
    www.arizonahomesearch.com/homes/122085377
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    6616 E Avalon Drive Scottsdale, AZ 85251

    • Price: $1,150,000
    • Status: Active Under Contract
    • Updated: 27 min ago
    • ID#: 6302804
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1962
    Built
    Neighborhood:
    Oasis Plaza
    County:
    Maricopa
    Area:
    Scottsdale
    Elementary School:
    Other
    Middle School:
    Other
    High School:
    Other
    School District:
    048 - Scottsdale Unified District
    Property Description
    Welcome to Eight on Avalon. This four plex is part of a portfolio and is in the heart of Old Town Scottsdale. 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. Must purchase with 6622 E Avalon for additional $1,150,000 for a total of $2,300,000 8 units. All facts and figures are approximate buyer verify MLS information. Drive by only tenants are unware of sale.Also available as part of a portfolio sale with same owners and unit mix and rent are 6631 E Cherry Lynn, and 6628 E Avalon also available for $1,150,000 each
    Exterior Features

    Construction Block Construction Finish Painted Covered Parking Spaces 4.00 Exterior Amenities Cable Tv AvailableGreen LandscapingLandscape Wtr SystemSeparate Storage Lot Size Dimensions Irr Parking 1 Space/UnitCarportFreeStreet Parking Roads Asphalt Roofing Comp Shingle

    Interior Features

    1 Bedroom Unit Avg Sq Ft 734 1 Bedroom Unit Baths 1 2 Bedroom Unit Avg Sq Ft 915 2 Bedroom Units Baths 1 3 Bedroom Unit Avg Sq Ft 0 3 Bedroom Unit Baths 0 4 Bedroom Unit Avg Sq Ft 0 4 Bedroom Unit Baths 0 Appliances Included DishwasherF/S Oven/RangeRefrigerator Cooling ElectricIndividual Efficiency Unit Avg Sq Ft 0 Efficiency Unit Baths 0 Floors CarpetVinyl Heating IndividualNatural Gas Interior Amenities Fire/Smoke Alarm(S)Unfurnished

    Property Features

    1 Bedroom Unit Avg Rent 1500.00 1 Bedroom Units 1 2 Bedroom Unit Avg Rent 1850.00 2 Bedroom Units 3 3 Bedroom Unit Avg Rent 0.00 3 Bedroom Units 0 4 Bedroom Unit Avg Rent 0.00 4 Bedroom Units 0 Adjusted Gross Inc 80370.00 Annual Elec Exp 0.00 Annual Gas Exp 0.00 Annual Ins Exp 1600.00 Annual Land Lse Exp 0.00 Annual Landscape Exp 1200.00 Annual Legal And Acctg 0.00 Annual Maint Exp 2000.00 Annual Other Expense 0.00 Annual Ownr Asoc Fee 0.00 Annual Pad Fee 0.00 Annual Rplcmnt Rsrvs 0.00 Annual Trash Exp 1000.00 Annual Wtr Swr Exp 1500.00 Community Amenities No Pool Cross Street 64TH STREET & THOMAS RD Efficiency Unit Avg Rent 0.00 Efficiency Units 0 Electric Srp Gas Sw Gas Gross Annual Sch Inc 84600.00 Hoa YN No Net Operating Income 70969.00 New Financing Conventional Operating Exp 8989.00 Other Income 0.00 Owner Pays SewerTrash CollectionWater Project Type 13 - 24 Units5 - 12 UnitsFour Plex Sale Includes Land & Building Sewer Sewer - Public Source Of Financial Data Projected ProformaProvided By Owner Tax Municipality Scottsdale Taxes 1689.00 Tenant Pays ElectricGas Totl Mnth Rntal Inc 7050.00 UCB Ucb (Under Contract-Backups) Vacancy Allowance 0.05 Water City Franchise Zoning Multi

    Listing courtesy of Grace Cre.


    © 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Long Realty Company. Data last updated 2021-10-28T14:12:24.16.
     
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    Long Realty Company
    4051 E. Sunrise Dr, Suite 101
    Tucson AZ, 85718